Business Setup Services in Oman
Oman's Investeasy initiative has made it simpler to get approvals for businesses. The scheme covers nearly 1,500 businesses and 88% of the economy. This initiative simplifies the process for obtaining business licenses or approvals by issuing a single document with all the required approvals. Since April 2021 when the initiative was initiated, more than six hundred people have received approvals.
These reforms resulted in improved economic indicators. This increased the country’s popularity in the international arena. It was also noted at the Third World Trade Organization Trade Policy Review in Geneva. In this review, Oman was praised due to its low tax burdens and minimal nontariff trade barriers. S&P Global Ratings reaffirmed its B+/B long-term foreign currency sovereign rating and changed the outlook for Oman from stable to positive. Moody's Investor Service updated the outlook for the country to stable and removed negative.