BUSINESS REPORTER
The Public Authority for Special Economic Zones and Free Zones (OPAZ) has approved a sizable reduction in the commercial registration fees for small and medium enterprises (SMEs) operating within the Special Economic Zone at Duqm (SEZAD).
Accordingly, SMEs setting up a company in SEZAD now pay a revised registration fee ranging from RO 30–40, as opposed to the original fee of RO 1000. The fee for opening a branch of a local company in the SEZ has been slashed to RO 12.
Dr Said bin Khalifa al Turashi (pictured), In-Charge of Managing Operation of Commercial Registration & Business Services Department of OPAZ, said the new package of facilities approved by OPAZ’s Board of Directors includes other benefits aimed at encouraging SMEs to operate in the Duqm SEZ.
Notable is a 50 per cent reduction in fees for all services provided by OPAZ, aimed at wooing small businesses to provide support services to the megaprojects, among other investments, taking shape in Duqm.
Following the issuance of Royal Decree 105/2020, OPAZ has been working to improve the appeal of SEZs and free zones to investors through the rollout of a number of initiatives, such as one-stop channels designed to fast track the processing applications, enhance efficiency and introduce new incentives and benefits for investors.
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