Plaining to setup company in Oman ? You will be having questions in your mind like How do I set up a company in Oman? How much does it cost to establish a company in Oman? Can foreigners register a company in Oman? How do I form an LLC in Oman? What will be the cost for company formation in Muscat Oman ? We have answer to all your questions. Oman known officially as the Sultanate of Oman, is located on the mouth of the Persian Gulf, sharing borders with the UAE, Saudi Arabia and Yemen. Oman is classified as a high-income economy by the World Bank. The country is a member of the United Nations and the Gulf Cooperation Council.
Although Oman has fairly decent oil reserves, a substantial fraction of its economy is driven by tourism, trade and agriculture. Since a dip in oil prices in late 20th century, Oman has been swiftly diversifying its economy and looking to develop other sectors of industry, especially real estate and infrastructure.
Frequently asked question (FAQ)
How are the investment incentives offered in Oman?
Investment incentives consist of providing plots for the charges of nominal lease in particular areas and reduces utility charges and tax exemptions as well.
How can a foreigner own majority shares in an Omani company?
The Sultanate of Oman motivates foreign capital to increase the country’s overall development.
List down the prerequisites needed to start an LLC company in Oman?
You need two shareholders, the minimum share capital at least 150,000 OR and a director.
Can a foreign company open a representative and a branch office in Oman?
Companies that conduct business with agreements or special contracts can open a branch in Oman.
Do they restrict repatriation?
Oman has a free economy and will not restrict the debt, remittance abroad of equity, interest, capital, profits, dividends, and personal savings.
Mention the criteria to get a residential and investors' visa?
Investor visas are provided for a foreigner who invests their money in Oman as per the certification from the authority concerned.
The corporate tax rate in Oman?
The 12% tax rate is applied for companies regardless of their size and nationality and the profit of 30,000 OMR is exempted from tax.
Is it a must to have a director for a business setup in Oman or a resident shareholder?
No, not necessary. A director or resident shareholder is not required to open a company in Oman. But many companies need at least one GCC or Omani citizen or corporation that holds 35% of company shares.
What is the duration to form a company in Oman?
If all prerequisites and documents are in order, Oman’s company formation takes only 8 to 10 days.
When is the Value Added Tax applicable in Oman?
VAT or Value Added Tax is introduced in 2019 in Oman.
Free Zones in Oman?
Main regulatory authority for company registration in Oman?
The main regulatory authority for company registration / formation / incorporation in Oman is the MOCI.
Foreign investment law in Oman?
Foreign Capital and Investment Law (Royal Decree No 50/2019) is the law that regulates foreign investment in Oman
Business Structures for Company Registration in Oman
- General Partnership
- Limited Partnership
- Limited Liability Company (LLC)
- Joint Venture
- Joint Stock Companies
- Holding Company
- Branch Office
- Representative Office
Procedure for Company Registration in Oman
- Choosing the activities carried out in the business
- Registering the Company
- Submit Documents
- Reserve Name
- Certificate of Incorporation
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