Muscat: More than 30,000 registration transactions were cancelled through the Invest Easy system between January 2018 until end of February 2019, the Ministry of Commerce and Industry has announced. The Ministry held a meeting with the owners of the Sanad Services Centres to discuss the remarks coming from the investors regarding the services provided by them through ‘Invest Easy’ system.
During the meeting, challenges being faced by these centres which provide services to the government organisations were discussed. In addition to violations by Sanad Centres regarding commercial names. The ministry stressed the role of such centres in helping investors choose their names to serve their commercial activities.
There was also an emphasis on the verification of the accuracy of the documents entered into the Invest Easy system, and how documents such as bank statements or certificates should be checked and verified by the competent authorities. The ministry said that the number of transactions done through the “Invest Easy” system from the beginning of January 2018 till the end of February 2019 reached 230,332.
During that period there were 33 transactions for cancellation of commercial agencies, 30,943 for cancellation of registrations and 22 for the guide for payment of the capital. Additionally, there were 12,978 transactions for the liquidation of companies, 1,568 transactions for new commercial agencies, 43,073 for new registrations, 1,998 for the renewal of commercial agencies, 10,648 for transfer of ownership, 210 transactions for commercial data and 128,859 transactions to update details of registrations.
The Ministry of Commerce and Industry said that of these 141,316 transactions there were those which were done through Sanad Services Centres.
The number of Sanad services centres which provide services through Invest Easy system reached to 639. These centres are situated in different governorates.
Ishaq bin Abdullah Al Ismaeli, the owner of Al Imtenan Al Wataniyah Office, said: The system[ Invest Easy] has helped in reducing the time and efforts made by the investors. Some of the permits or licenses were given swiftly and transactions are completed at the earliest possible time contrary to the past.