If a party fails to pay a sum due under an arbitral award within ninety days from the date the award was issued, such award can be lodged with the Commercial Court for registration. An enforcement application may follow thereafter and the Commercial Court will direct the relevant party to deposit the award sum within seven days. Failure to pay amounts due may result in the Court’s enforcement department arranging physical seizure of assets.
The Civil Association Law promulgated by Sultani Decree 14 of 2000 governs the conduct of communal and charitable work and the operation of not-for-profit associations established for socio-cultural or developmental purposes. An association shall acquire its legal personality from the date of publication of its registration in the Official Gazette.
The recently implemented Sultani Decree 11 of 2017 has sought to re-define the responsibilities of the Ministry of Commerce and Industry (MOCI) by transferring certain MOCI functions to other departments. For example, in relation to consumer protection matters, the responsibility for protecting consumers and spreading awareness of consumer issues has been re-allocated to the Public Authority for Consumer Protection, where MOCI will remain the authority in relation to products and commodities.
There are many advantages to establishing an entity in a free zone, for example 100% foreign ownership is permitted and no minimum capital requirements or custom duties apply. In addition, there is a one-stop shop for filing applications, licenses and permits which aim to facilitate the ease in which an entity in a free zone is established. To establish an entity in onshore Oman requires additional steps, such that there must be a bank deposit of the required capital prior to any application for registration at MOCI.
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