September 21, 2020      
عربي
Last Data Update:20/09/2020

Service Declaration

This service is currently available only to Omani shareholders and non-Omani shareholders, whose identity is validated by electronic authentication.

Those not covered by this service must download an investor registration form and read their terms and conditions. The documents mentioned in the application form will be attached to the application.

Open User Manual

Service Channels

  • MCD Website.
  • Sanad Offices.

Required Documents

The following documents should be attached with the application form:

Section 1: Tax Return Form :


  • The tax return form must be downloaded, completed and signed. (download Individual Tax Residency)
  • An electronic copy must be attached with the remaining documents required during filling of the electronic application. No application will be accepted without attaching the tax return form.
  • To find out more, or to answer any questions, please contact the Capital Market Authority and Secretariat General for Taxation.

Section 2: Identity Documents:

A) Individuals (Omani Shareholders):

  • Adults: Copy of ID card or Passport
  • Minors (Under 18 years old):
    - Copy of passport or birth certificate (issued by the Civil Status).
    - Copy of the guardians’ Identity.

B) Individuals (Non-Omani Shareholders):

  • 1) Adults:
    • Residents of the Sultanate of Oman:
      - Copy of resident card.
      - Copy of passport.
    • Non-Residents in Oman:
      - Copy of passport.
      - Ratification of the form and attachments by the competent authorities.
  • 2) Minors (Under 18 years old):
    • Residents of the Sultanate of Oman:
      - Copy of resident card.
      - Copy of passport or birth certificate.
      - A copy of the resident's ID card or passport.
    • Non-Residents in Oman:
      - Copy of passport or birth certificate.
      - Copy of the guardian's identity.
      - Ratification of the form and attachments by the competent authorities.

Section 3: A copy of the proof of the bank account.

Procedures

  • Entering the service and overviewing the conditions and requirements.
  • Download the tax declaration form, fill it out and sign it, and then save it as an electronic copy.
  • Login using the electronic authentication feature (PKI).
  • Complete the details.
  • Upload the attachments with the electronic copy of the tax declaration form.
  • Accept the terms and conditions.
  • Confirm by clicking Send.
  • A text message will be sent to the investor with the application number for the purpose of follow-up.
  • The relevant department of the company will check the request and then (approves / rejects it).
  • A text message with the new investor’s number (in the event of approval) - a text message due to rejection (in the event of an application being rejected).

General instructions and provisions

A) Cases of application rejection:

  • The application is rejected in the following cases:
    • The data in the form is incorrect or incomplete.
    • In case the form is not signed or sealed, or not ratified by the competent authorities.
    • Non-compliance with any requirement or provision provided in this regard.

B) General Provisions:

  • The investor in the IPO (initial public offering) must submit the application with the required documents at least one week prior to the closing date of the subscription.
  • Muscat Clearing and Depository (MCD) may freeze accounts with no balance, and not use for up to two years. Or in cases of necessity according to the procedures followed or issued by the competent authorities.
  • Muscat Clearing and Depository (MCD) may reserve or freeze property or accounts at the request of the judicial or regulatory authorities concerned with the Sultanate.

Undertaking

  • I (the Omani shareholder / non-Omani shareholder), after reviewing the registration conditions, have confirmed that all the data entered in this electronic application and all the attached documents are true and accurate. I also acknowledge my knowledge if it is proven incorrect - all or some of it - or if it is not completed that this request becomes null and void. I also pledge to bear all responsibility and all legal consequences for that. I also promise to fully comply with the Capital Market Law and its implementing regulations, the Anti-Money Laundering and the Financing of Terrorism Law, and any other relevant laws and regulations in force in the Sultanate of Oman. Moreover, I acknowledge that the Muscat Clearing and Depository Company does not bear any responsibility for any behavior that indicates non-compliance with the above.
  • We also acknowledge as (custodians and Managers of Clients Accounts) to provide the judicial or supervisory authorities concerned in the Sultanate with the data of the real beneficiaries dealing under this account, upon request or in cases that require that. We also acknowledge to assume all legal responsibility and its consequences in the event of non-compliance with the provision of correct and accurate data in accordance with the laws in force.

Muscat Clearing & Depository Company (SAOC) does not bear any responsibility in case of non-compliance with the above.

Fees

No Fees.

Required Time

One working day after receiving the request.

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