Oman Business launches commercial registry transfer

Salalah – The Ministry of Commerce, Industry and Investment Promotion (MoCIIP) has introduced the pilot version of the Commercial Registration Ownership Transfer Service, a new digital solution designed to streamline business procedures in the Sultanate of Oman. The service uses Public Key Infrastructure (PKI) and One-Time Password (OTP) authentication, and in its initial phase applies to sole proprietorships and single-person companies.

The service aims to simplify procedures, cut down processing time and effort, and ensure greater accuracy, speed, and security. Speaking at the “Sustainable Business Environment” event in the Wilayat of Salalah, MoCIIP explained that the seller can initiate the request via the Oman Business Platform, signing electronically through PKI. The request is then passed to the buyer for approval and e-signature, before being returned to the seller for fee payment. The process concludes with verification by a Ministry notary officer, after which the commercial registration is officially issued in the buyer’s name.

MoCIIP emphasised that this initiative forms part of its wider programmes to advance the goals of Vision Oman 2040, by creating a more integrated business environment, stimulating economic growth, and empowering entrepreneurs and investors.