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Over 3000 CRs for Sole Proprietorship and Commercial Companies through Invest Easy.

Muscat, Dec.23 (ONA) ---- The Ministry of Commerce and Industry pointed out that the number of sole proprietorship and commercial companies that have renewed or cancelled their expired Commercial Registrations (CRs) through Invest Easy Portal stood at 3062 since starting submitting the application at the beginning of December 2017.

2437 sole proprietorships renewed 940 CR and cancelled 1497 CRs. 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 as till March 31st, 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 37430 CRs which have expired during the period from January 1st to July 12th, 2017. The number of expired CRs as on December 31st, 2016 stood at 117,038 including 75864 sole proprietorships and 41174 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.

--- Ends/MS/AH/FS

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Publication:Oman News Agency
Date:Dec 23, 2017
Words:220
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