JD Supra Oman

Publisher:
JD Supra
Publication date:
2019-04-29

Publisher

Latest documents

  • المستقبل؟ الحاجة إلى خارطة طريق تنظيمية الهيدروجين األخضر في عمان - العودة إلى

    أوائل مارس ي ف ٢٠٢٢ ،أصدر جاللة السلطان هيثم بن طارق المعظم حفظه هللا ورعاه ٥ أوامر سامية ي سلطنة عمان تطوير قطاع الهيدروج ي ف ي قدما ف ضي للم . الجديد عىل الهيا ك ت ر باإلضافة إىل الت كل دنتونز نرحب بشكل خاص بتوج ي الحكومية والتعليمات الخاصة بالدراسات وجمع المعلومات ، فإننا ف يه ، ي صاحب الجاللة بوضع السياسة واإلطار القانون ر واللوائح األكت ، ً تعترت ض تفصيال ورية ل رت ي ال دعم نمو ي عمان األخ ضف الهيدروج ي . يرجى الاطلاع على المنشور الكامل أدناه لمزيد من المعلومات.

  • Oman issues a list of activities prohibited from foreign ownership under the FCIL

    Further to our February 2020 client alert on Oman's new Foreign Capital Investment Law (FCIL), Ministerial Decision 209/2020 has recently been issued listing 70 activities that must not be undertaken by a company that is subject to the FCIL (New MD).

  • Oman publishes medium-term fiscal plan for 2020-2024

    The medium-term fiscal plan (MTFP) is upfront about the impact of continuing low oil prices and the COVID-19 pandemic on the Oman government's finances. The MTFP has been developed with the stated aim of "achieving fiscal balance in the medium term" and is to be implemented along with a number of new measures aimed at improving the business environment, stimulating investment in Oman and launching a "social safety net that will reduce the impacts of the fiscal measures on selected groups of society".

  • Central Bank of Oman's Second Economic Stimulus Package Released

    In an effort to respond to the on-going challenges faced by businesses and individuals as a consequence of the coronavirus pandemic and economic downturn, the Central Bank of Oman (CBO) has issued a raft of policy measures aimed at providing additional liquidity to local banks and finance companies, thereby facilitating continued support to affected customers (with specific focus on first time home owners). The relief provided to impacted businesses and individuals is, in turn, expected to contribute to the recovery of the Oman economy.

  • New fund to support Omani terminated employees and job seekers

    Royal Decree No.82 of 2020 (RD) creates the new job security fund (Fund) and comes into force on 1 November 2020. The Fund is a step towards greater social protection for Omani employees whose services have been terminated and job seekers (the Insured).

  • 28 new Royal Decrees issued in Oman

    Oman is undergoing a constitutional shake-up in what has been hailed as the most sweeping reforms introduced yet by His Majesty, Sultan Haitham bin Tarek. A remarkable 28 new Omani Royal Decrees were announced on 18 August 2020 which signals a step in reducing the number of ministries (from 26 to 19) and the overall size of the government, and decentralising power by devolving authority from His Majesty to a number of these ministries. The most notable focus seems to be on the economy, with the new post of Minister of Finance.

  • Expatriate employees will not require NOC in Oman but T&Cs apply

    On 31 May 2020, Lieutenant General Hassan Mohsin Al Shuraiqi, the Inspector-General of Police and Customs, announced a decision of the Royal Oman Police 157/2020 (Decision), which permits the transfer of an expatriate employee to another employer in Oman, in cases where the employment contract with the existing employer has ended. This Decision shall be published in the Official Gazette and will be implemented from 1 January 2021.

  • Supermajors, dividends and the energy transition

    I am sitting in my garden at home on a sunny afternoon with a glass of white wine – and yes I had booked this day off as leave. I check my phone and see that all hell is breaking out on the news feeds. No, it’s not that we have passed the milestone of 200,000 COVID-19 deaths globally or that WTI has gone negative for the first time in history. There is another huge story (connected to these) that is taking off.

  • New Oman Capital Market Authority administrative decision on SAOG articles

    Pursuant to Administrative Decision no. 17/2020 dated 20 February 2020 (Decision), the Oman Capital Market Authority (CMA) has instructed public joint stock companies (SAOGs) to replace their current articles of association with the new template form of articles of association for SAOGs set out in the Decision (Model Articles). The Decision has been issued at a time when most SAOGs are busy preparing for their AGMs, but the importance of the Decision should not be overlooked.

  • New ban on hiring expatriates in Oman

    The Ministry of Manpower has issued Ministerial Decision 47/2020 (the MD). The MD adds "sales representative/sales promoter" and "purchase representative" to the categories of jobs from which expatriates are banned (although an expatriate currently working in a position which is subject to the MD can continue in his/her job until his/her current visa expires). 

Featured documents

  • The Oman Update - The Official Gazette 1102

    Sultani Decrees - Sultani Decree 20/2015 - Promulgating the GCC Common Law of Anti-dumping, Countervailing Measures & Safeguards. Sultani Decree 21/2015 - Granting Omani nationality to 288 named individuals....

  • The Oman Update - Official Gazette 1137

    Royal Orders Awarding Honours Diwan of Royal Court Sultani Decrees Order conferring the Al Numan Award (First Class) to HE Paola Amadi, Ambassador of the Italian Republic to the Sultanate, at the end of her tenure. Issued on 17 February 2016....

  • Focus on Oman: Diplomacy and Dividends

    The crucial role of Oman, a sultanate located at the southeastern tip of the Arabian Peninsula, is becoming apparent as the dust settles on the recent Iranian nuclear deal. Oman is adept at balancing relationships in a notoriously fractious region and remains a friend to Iran, Gulf Arab neighbours, ...

  • The Oman Update - Official Gazette 1165

    Ministerial Decisions - Ministry of Health - Ministerial Decision No. 199/2016 - Determining the working hours of people in medical and medical support jobs at state medical institutions (civil and military). Issued on 29 September 2016. Effective the day after the date of its...

  • Oman's New Tax Law

    Oman's latest Royal Decree introduces sweeping amendments to the Income Tax Law of 2009 and was formally published on 26 February 2017....

  • The Oman Update - Official Gazette 1206

    Ministerial Decisions - Ministry of Finance - Ministerial Decision No. 148/2017 - Amending the Classification Guide for the General Budget of State (Annex 1) attached to the Executive Regulations of the Finance Law (Ministerial Decision 118/2008). Issued on 25 July 2017. Effective from...

  • The Oman Update - Official Gazette 1248

    Decisions - Ministry of Justice - Ministerial Decision No. 96/2018 dated on 7/06/2018 - To give the status of judicial police to some employees of the Telecommunications Regulatory Authority (TRA)...

  • The Oman Update - Official Gazette 1265

    Royal Decrees - Royal Decree No. 22/2018 amending the Law of Protection of Competition and Prevention of Monopoly....

  • The Oman Update - Official Gazette 1277

    Royal Decrees - Royal Decree no. 5/2019 approving the Sultanate of Oman’s association with the 2001 United Nations Convention on Control of Harmful Anti-Fouling Systems on Ships....

  • Ban on hiring expats in the Omani private sector

    On 7 May 2019 the Ministry of Manpower (the Ministry) issued Ministerial Decision 221/2019 (the MD), implementing a ban on both issuing and renewing work permits for non-Omani individuals in nine job roles in the private sector. The MD came into force on 13 May 2019. This ban follows a number of...

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