We, Qaboos bin Said, the Sultan of Oman
after perusal of articles 1 and 3 of the Foreign Business and Financial Investments Law issued in 1973,
and based on the matters presented to Us by the Minister of Commerce and Industry,
have decreed as follows
Article 1
As an exception to the requirement set out in article 3(b) of the Foreign Business and Financial Investments Law, the Minister of Commerce and Industry may grant the licence required under article 2 of the mentioned law to companies composed of Omani nationals and non-Omani nationals whose capital is less than 25,000 Rial Omani and which are listed in the attached statement containing the names and owners of 76 companies in which non-Omani shareholders previously engaged in business in the Sultanate before 1970.
Article 2
The term of the licence granted under the provisions of this decree is hereby three years, renewable for a similar period or periods by a decision from the minister.
Article 3
The Minister of Commerce and Industry shall implement the provisions of this decree.
Article 4
This decree must be published in the Official Gazette, and comes into force on the date of its issuance.
Issued on: 12 Sha’ban 1395
Corresponding to: 20 August 1975
Qaboos bin Said
Sultan of Oman
Published in Official Gazette 86 issued on 1 September 1975.