Oman launches fast track service to serve investor residence in special economic zones

Muscat: The Public Authority for Special Economic Zones and Free Zones (OPAZ) launched the fast track service to serve the residence of an investor in the special economic zones and free zones to become available through the one-stop shop system and with an easy procedural path to process requests quickly upon registration in the authority’s commercial registry and obtaining the investment license on the same day, through direct coordination Between the authority and the Royal Oman Police.

On the other hand, during the last period, the authority, in cooperation with the relevant authorities, granted long-term residence visas in the special economic zones and free zones for a period of between 5 to 10 years for foreign investors who own value-added investments, which contribute at a distinguished level to support the efforts made towards employment Job seekers and the development of small and medium enterprises

Dr. Saeed bin Khalifa Al-Turashi, who is in charge of running the business services sector at the Public Authority for Special Economic Zones and Free Zones, explained: The new service enables investors registered in the special economic zones and free zones to apply for a residence visa for different periods of time immediately upon registration in the authority’s commercial registry and to obtain an investment license through the one-stop shop system.

He added that the Public Authority for Special Economic Zones and Free Zones, in cooperation with the Royal Oman Police, the Ministry of Commerce and Industry and Investment Promotion and the Ministry of Labor, worked earlier to provide the best services related to the areas of long-term residency that allow investors who meet the requirements to obtain residency visas that enable them to work in the areas affiliated with the authority according to a well-studied plan that enhances the investment environment.

He explained that this program comes in order to promote qualitative investments that contribute to the growth of the domestic product, create job opportunities and support the national economy in line with the capabilities, pillars and objectives of the “Oman Vision 2040” and to promote sectors of economic diversification.

It is noteworthy that, since the issuance of the Royal Decree No. 105/2020, the authority has worked to enhance its role in the field of business services by providing fast and efficient services through the authority’s one-stop shop, whose electronic services extend to all special economic zones and free zones, and the authority has also completed a number of studies directed Towards developing the investment business environment, the most prominent of which was reviewing and re-engineering procedures, reviewing fees for services provided in its affiliated areas and land use prices. This is part of the government’s efforts to diversify economic stimulus and provide attractive advantages and incentives to investors.