MUSCAT: The Ministry of Commerce, Industry, and Investment Promotion (MoCIIP) has announced the delisting of expired commercial registers for 3,415 companies that have either ceased operations or failed to renew their licenses. The move, part of an effort to streamline registered data and ensure compliance with existing laws and regulations, was outlined in Announcement 8/2024 based on Commercial Register Law No. (3/74). The Ministry aims to identify active and compliant businesses as part of its broader market regulation efforts.
The Ministry emphasized that this initiative is part of its ongoing efforts to regulate the market and ensure that all active commercial records represent effective businesses. In a recent social media post on X, the Ministry urged businesses to scan the provided QR code to check if their commercial records are among those delisted.
Additionally, the Ministry has attached an objection form accessible through a scannable QR code, allowing companies to recover their delisted commercial registrations. Businesses are required to list their reasons for objection when filing the form and must attach a copy of their ID card along with supporting documents.
The Ministry's post sparked discussions among business owners, with one netizen questioning the process of delisting inactive records that are not expired. “We have commercial records that are not expired but inactive with no commercial activity, and now we want to cancel them. So why are we required to pay RO 300 to an audit firm? Why isn’t it treated like the previous system?” the commenter said, expressing frustration over the new requirements.
Speaking to the Observer, Mohammed al Hashmi, Director of the Supervision of Commercial Establishments Department, clarified that the recent announcement targets businesses that have ceased operations or whose licenses have expired. He stated that the objective is to regulate the market, ensuring that all active commercial registrations represent effective institutions and to provide accurate statistics for all active companies.
Al Hashmi highlighted that, prior to issuing this announcement, coordination took place with relevant authorities, including the Ministry of Labour, to ensure that no workers are registered with these companies, and with the Tax Authority to confirm that there are no financial obligations on them. Coordination was also conducted with entities affiliated with the Oman Business platform to ensure that there are no outstanding obligations.
“This decision was issued today, and there is a 30-day objection period for company owners should they have any objections, following the designated objection form. This is the first phase, and there will be several other phases in the coming years. Today’s announcement pertains to companies established between 1970 and 1999. Further phases will be announced in due course once coordination with the relevant authorities is completed,” Al Hashmi added.
Affected parties have 30 days to submit objections using the QR code provided in the announcement and must email them to soce@tejarah.gov.om.
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