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OVER 3,000 BUSINESS ENTITIES AVAIL SERVICES OF INVEST EASY PORTAL.

The Ministry of Commerce and Industry has stated that the number of sole proprietorships and commercial companies that have renewed or cancelled their commercial registrations (CRs) through Invest Easy portal stood at 3,062 since starting submitting applications at the beginning of December.

Some 2,437 sole proprietorships renewed 940 CRs and cancelled 1,497 CRs while 625 commercial companies renewed 614 CRs and cancelled 11 Crs.

The ministry urged owners of sole proprietorships and commercial companies to cancel or renew their expired CRs till March 31, 2018 to ensure accuracy of their establishments' data. The renewal also helps in maintaining these CRs valid and ensure their compliance with the relevant laws and regulations.

The ministry also processed 37,430 CRs which have expired during the period from January 1 to July 12, 2017. The number of expired CRs as on December 31, 2016 stood at 117,038 including 75,864 sole proprietorships and 41,174 commercial companies.

The ministry affirmed that as per the provision of article No 15 of the Commercial Registration Law No 3/74 the sole proprietorships whose CRs are expired will be cancelled if their owners failed to submit an application for renewal or cancelling.

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Publication:Muscat Daily (Muscat, Oman)
Date:Dec 24, 2017
Words:235
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