The Sultanate of Oman has banned expats from owning agricultural land and real estate in many areas, according to a royal decree by Sultan Qaboos bin Said.
The decision to reduce service fee for patents, utility models and industrial designs for students, research centres and…437 Views | the publication reaches you by | Oman News
Expats in Oman are also prohibited from owning land in islands, sites near palaces and security and military authorities, and archaeological and ancient houses.
The transfer should take place within two years from the date of the nationality loss, but may be extended for a year following approval by the Minister of Housing.
If the owner fails to do so, the ministry will reclaim the land with compensation of the land plot.
If the land boasts existing property on undergoing construction, the state will retain the right to sell the land and related works should the owner fail to transfer the land. The sale price, however, would return to the owner of the land.
The law also states that a jail term of between three months to one year, and a fine of between $2,600 (OMR1,000) to $7,800 (OMR3,000) shall be imposed on those who deliberately enter into an illegal ownership contract.
Those who use methods of fraud will also be jailed for between six months to two years, and fined between $5,000 (OMR2,000) to $13,000 (OMR5,000).
The UK and Oman will open a new joint training base in the sultanate early next year. The…1528 Views | the publication reaches you by | Oman News
Do you have information you want to reach our readers?