The meeting also highlighted the procedures followed by the customs clearance offices, the significance of implementing specifications and standards of the handling companies, and the free zone’s security system project. It is worthwhile to mention that, general incentives are offered to investors in the free zone, including customs’ exemptions, 100 per cent foreign ownership, no minimum capital requirements, Omanisation rate stands at 10 per cent and simplification of procedures for non-GCC investors to obtain residency in Oman.
Source Link: timesofoman.com