Penalties under new Foreign Investment Law defined

Muscat: The Ministry of Commerce and Industry (MOCI) had stipulated penalties for violators of the New Foreign Investment Law in Oman.

Any foreign investor in who violates provisions of the new Foreign Investment Law shall be liable to a fine of not less than RO20,000 and RO150, 000.

  1. Any investor who prevents competent authorities in Oman from performing their duties shall be liable to a minimum fine RO1,000 and not exceeding RO5,000.

The Foreign Investment Law stipulates that any Omani, who participates with a foreigner in a project that violates the provisions of the law, shall be liable to same penalty.