Tuesday, June 16, 2015

MOCI's New Procedure on Company Formation

The Ministry of Commerce and Industry (MOCI) signed an Agreement on 7 December 2013 with Nortal Gulf Company from Estonia to develop the One Stop Shop (OSS). The venture known as the “Business and Technology Transformation Project” is implemented by the MOCI to take a further step in the development of the e-Government and to support the e-Transformation plan.

The project is expected to improve business processes by providing over 66 e-Services through mobile applications or the website.

The OSS is a highly useful service offered by the MOCI, which will enable investors to set up companies in Oman while minimising paperwork, saving costs and time. The Information Technology Authority (ITA) has worked with the MOCI to align this service with the overall e-Government framework in an integrated manner from a single-access point. The Commercial Registration Database is a shared database within the e-Government architecture whereby other government entities and ministries can access, reference, complete and update the company’s data electronically via the Government Nervous System. The commercial registration number becomes a national identifier for businesses.

All applications and governmental processes involved in company registration and approval requests will become possible online through the designated portal. Such portal will become a single-entry access point for OSS services for authorised entities. The OSS will improve services rendered to new and existing businesses by minimising the number of visits to the MOCI needed to complete the registration process. In the near future it will be possible to make payment for such services online through other electronic channels.