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1. |
The new activity must be an encouraged activity |
2. |
no planning, environmental or health impediment should exist |
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Second: required documents |
1. |
a copy of the license for the first activity |
2. |
a copy of the business name |
3. |
a valid ownership certificate or rental contract |
4. |
application to the administration |
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Third: the procedures |
1. |
payment of the application fees |
2. |
the application is transferred to the specialized sector for analysis |
3. |
after the consent is issued a new business name should be registered for the new activity at the Delegate Commercial Registrars department. |
4. |
the license of the new activity is issued after payment of required legal fees |
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Addition of a production line to an existing project |
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First: the conditions |
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1. |
the main line must be readily executed and is working in an acceptable manner |
2. |
the availability of a suitable area for the new line |
3. |
the new should not oppose the old line in any technical or planning manner |
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Second: required documents |
1. |
a copy of the license granted to the first line |
2. |
a copy of the business name |
3. |
an ownership certificate or rental contract |
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Third: procedures |
1. |
payment of the application fees |
2. |
obtain approval from the concerned technical party |
3. |
transfer the application to the concerned sector for examination, issue consent and then transfer the consent to the Commercial Registrar to add a new line to the original business name |
4. |
Issue a license or decision after payment of the required fees |
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Transfer of ownership |
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First: the conditions |
1. |
execution of the project to a reasonable extent not less than 60% of the required structures |
2. |
it is not possible to transfer empty land granted in accordance with the investment encouragement act |
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Second: required documents |
1. |
submit a valid ownership certificate of the transferred project |
2. |
a copy of the projects license |
3. |
a copy of the business registration |
4. |
a primary concession contract from a recognized legal body |
5. |
an application to the ministry for acceptance of the concession |
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Third: procedures |
1. |
payment of application fees |
2. |
transfer of the application to the specialized sector for examination |
3. |
a field visit to the project by the monitoring department and preparation of a report explaining the execution of the project |
4. |
the application will be transferred to the ministry's legal consultant to ascertain the legality of the proceeding |
5. |
consideration of the application in agreement or disagreement; incase of agreement the project is registered with the Delegate Commercial Registrar in the ministry |
6. |
issue a final license to the owner and a new business name |
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Forming or ending a partnership |
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As long as the purpose of involving a new partner is fully executing the project then agreement to this will be issued after the following documents are submitted: |
1. |
a copy of the business registration |
2. |
a copy of the license |
3. |
a valid ownership certificate |
4. |
a partnership contract ratified by a legal body |
5. |
an application to the administration requiring the transaction |
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Mortgaging the project for finance |
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First: the conditions |
1. |
the project must be executed to an extent allowing the mortgage of the buildings not the granted land |
2. |
a letter from a bank clarifying the purpose of finance which must be for the operation or execution of the project |
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Second: required documents |
1. |
a copy of the license |
2. |
a copy of the business registration |
3. |
a valid ownership certificate |
4. |
a banks letter of finance |
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Third: procedures |
1. |
payment of application fees |
2. |
transfer the application to the concerned sector |
3. |
a field visit is executed by the monitoring department and a report is prepared showing the extent of execution |
4. |
the documents are revised by the ministry's legal counsel |
5. |
consideration of the application and making the decision concerned |
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General rules |
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First: cars and other transport means are not allowed except after the capital equipment is imported |
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Second: the project is not granted a tax exemption for more than 10 years except after the project is proven a strategic one with a capital of 10 million dollars and a budget audited by a legal auditor |
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Third: capital equipment has become an automatic concession with 0 customs and does not need any exemption |
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Fourth: rehabilitating the industrial projects now enjoys a constant percentage for business profits which is 10% instead of 30% |
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