MUSCAT, July 18 - Commercial agencies have been asked to renew permits on or before August 3 in order to avoid penalties.
“We have given these agencies time till August 3 to renew permits and through this decision, the ministry aims to urge commercial agencies to renew their permits in order,” the Ministry of Commerce and Industry (MoCI) said in a statement.
Article 15 of the Commercial Agencies Law (OCAL) issued by Royal Decree 26/77 stipulates that non-renewal of the permit will lead to the cancellation of the registration of commercial agencies.
The ministry said measures are in place to ease renewal of agency licences and registrations for investors.
“Agents of these agencies must renew their permits and modify data electronically through Invest Easy portal or through Sanad centres,” said the statement.
Article 1 of OCAL defines a commercial agency as “any agreement whereby a manufacturer or supplier outside Oman assigns one or more merchants or commercial companies in Oman to sell, promote or distribute goods and products or supply services, whether in
his capacity as an agent, representative or intermediary for the product of the original supplier who has no legal presence in Oman, against a profit or commission.”
According to MoCI statistics, the number of registered commercial agencies in the country was 6,651 up to July 15, 2018, a marginal increase compared with the previous year.
The number of applications for commercial agencies registered in 2017 reached 744.
In the first four months of this year, the ministry received 206 applications from commercial agencies.
KABEER YOUSUF
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