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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

New service to change ownership of commercial registration

MOCI
MOCI

Muscat:  The Ministry of Commerce and Industry (MoCI) has allowed the investors to complete transferring of the commercial registry ownership through service delivery offices (Sanad, legal and Auditing offices) starting from May 4.


This move will enable investors to complete their initial procedures.


Through this service, the investor can transfer the ownership of the commercial registry, amend the legal form of the company, and amend the capital and tax data in the same application. Service delivery offices receive the application for transferring the commercial registry ownership electronically through the InvestEasy Portal.


The required documents should be attached along with the payment of the administrative charges. The application will be transferred electronically to the Ministry’s employee to review the application.


When the application is completed, the seller and buyer are required to visit the offices of the Ministry in the Knowledge Muscat Oasis, Building 4, or the directorates and departments affiliated to the ministry in the governorates to document the contract only as a final procedure.


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