ROYAL DECREE
NO. 102/94

ISSUING THE FOREING CAPITAL INVESTMENT LAW 

WE, QABOOS BIN SAID SULTAN OF OMAN,

Having taken cognizance of the Royal Decree No. 26/75 issuing the state Administrative Apparatus Law and amendments thereto;

And the Commercial Companies Law No.4/74 and amendments thereto;

And the Royal Decree No. 4/74 issuing the foreign Business and Investment Law and amendments thereto;

And the Royal Decree No. 26/77 issuing the Law of Commercial Agencies and amendments thereto;

And the Law for the Organization and Encouragement of the Industry issued by virtue of the Royal Decree No. 1/79 and amendments thereto;

And the Royal Decree No. 57/93 issuing the Regulations Organizing the GCC Investment.

And upon the exigencies of the public interest,

DECREE AS FOLLOWS:

Article (1) : The Foreign Capital Investment Law attached herewith shall be applicable.

Article (2) : The  Investment projects existing at the time of the issue of this Law shall continue up to the end of the licence period thereof during which time the percentage of foreign participation may by amended as per the articles of the Law attached herewith.

 The period of exemption from the income tax granted in accordance with the Foreign Business and Investment Law issued by the Royal Decree No. 4/74 referred to above shall be considered as part of the exemption period set out in this Law.

Article (3) : The Ministry of Commerce & Industry shall issue the regulations necessary to the enforcement of this Law.

Article (4) : Foreign Business and Investment Law issued by the Royal Decree No. 4/74 referred to above shall be hereby abrogated.

Article (5) : This Decree shall be published in the Official Gazette and shall come into force as of date of publication.

QABOOS BIN SAID,
 SULTAN OF OMAN

 Issued on :
                    11th Jumada 1, 1415 AH.
                     16th October, 1994 AD.