Muscat: In the context of addressing the phenomenon of multiple commercial registries, the Ministry of Commerce, Industry and Investment Promotion (MoCIIP) urges the commercial companies in all their legal forms, which would like to liquidate their commercial registries, to speed up the liquidation process before 31, December 2022.
By this urging for the commercial companies, MoCIIP aims at facilitating for the concerned commercial establishments to correct their status, as well as to encourage owners and holders of the multiple commercial registries to liquidate their commercial establishments.
The ministry further clarified that the number of companies that utilised the facilities package that was declared by the ministry and started providing it on June 15th, 2021, reached 4,794 companies, till the end of October, 2022, including liquidation of 1,357 companies and cancellation of 3,437 companies.
The ministry also emphasised that, liquidating or merging commercial registries, contributes to tackling the phenomenon of multiple commercial registries, correcting market status, improving the business environment and its competitiveness, supporting the development of small and medium enterprise plans, and facilitating entrepreneurs to cancel old inactive registries through a package of facilities and fee waivers to help them to get rid of previous burdens.
