UAE is a popular haven for free zones. One can find numerous free zones in Dubai. The Free Zone in Dubai is a magnet for the investors with a visionary appeal given its excellent infrastructure and elite standard of living.
A Free zone in Dubai allows a foreign investor to retain 100% ownership of the company that is set up. They are also exempted from commercial taxes, export and import duties, building and property license fee, and land tax.
These free zones are vouched as the best environment for any business activity given that it provides a secure and regulated business environment. Free zones promote growth, foreign investment and hence help the economy.
Nevertheless, before you want to set up a start-up in a Dubai Free Zone, it is important to check a few pointers. For example, defining your business activity accurately is crucial for your business set up. This step of defining your company is the foundation of the setup process. This may turn nasty if you do not hire local legal guidance necessary for adhering the registration and incorporation protocols for your business.
Hiring professional help regarding setting up of your business in Dubai free zone is an effective method to execute the paperwork and documentation process smoothly. Leaving the paperwork hassles to the professionals also makes you free to attend to your business introduction and development schemes in Dubai.
Our services help you streamline the business set up process in the following free zones in Dubai.
DAFZA
Dubai Airport Free Zone(DAFZA), is a business destination offering lucrative opportunities for a variety of sectors. It is hence the fastest growing free zone.DMCC
Dubai Multi Commodities Centre(DMCC) was earlier called as Dubai Metals and Commodities Centre. It is reputed to be the best base for a business in the UAE and Dubai.Dubai Silicon Oasis
Dubai Silicon Oasis Authority is completely government-owned free-zone. It is known for promoting and facilitating cutting edge industry setups. Dubai South Dubai South free zone was earlier called as Dubai World Central. It is an excellent gateway to the African, Middle East and the South Asian markets.JAFZA
JAFZA is currently the fastest growing free zones in Dubai. Its world-class infrastructure attracts investors from far and wide making it a popular business set up destination. Black Swan Business Setup Services LLC can help you in setting up of Free Zone Company in Dubai. Get Free Consultation Today Visit blackswanbss.com
What is the requirement to sponsor parents in the UAE? When we don't meet the salary requirements, how to request on humanitarian grounds, as my parents live alone in India?
When residing in the emirate of Dubai, the individual earns a monthly salary of Dh 20,000 to sponsor his parents in the United Arab Emirates accompanied with a two-bedroom apartment.
When your salary is Dh 20,000, you can sponsor the visa for your parents and get one from the General Directorate of Residency and Foreigners Affairs (the GDRFA). You or your wife must individually earn a monthly salary of Dh 20,000. The combined salary is not considered.
When your monthly salary is less than Dh 20,000 and no one takes care of your parents in the home country, you can apply to the GDRFA to sponsor your parents in the UAE. You have to provide evidence and documents confirming you are the sole bread-winner for your parents and they are dependent on you.
Cloud kitchen is also said as the virtual restaurant, dark kitchen or ghost kitchen. It has a delivery-only restaurant format that doesn’t provide a dine-in facility. Cloud Kitchen models accept orders through online platforms like mobile apps, websites, third-party platforms, or hotline numbers.
Delivery-only restaurant format relies on online food aggregators like DoorDash, UberEats, Deliveroo to accept large online orders. Hence, partnering with third-party platforms seems necessary. The delivery-only restaurant has a low investment, low risk and high-profit model. To set up a cloud kitchen might seem cheaper when compared to a traditional restaurant.
The cloud kitchen allows restaurateurs to experiment with different formats and concepts. This gives rise to varied food delivery business models like aggregator-managed cloud kitchen, multi-brand kitchen model and co-working spaces.
The Cloud Kitchen Business in the UAE
The ease of replicating, low set-up costs and scaling operations makes cloud kitchen the most profitable food business formats. They do not require a storefront at a prime location or the front-of-house staff to serve customers. This takes only one-third of the resources to establish a cloud kitchen business.The detailed checklist for the cloud kitchen business in UAE
Acquire the Trading licenses and Food
You have to acquire your food and trading licenses from authorities. You must approach the Department of Food and Safety for the food license, where the trade license is obtained from the Department of Economic Development (DED), costing AED of 10,000 to AED 12,000 along with the Department of Tourism and Commerce Marketing (DTCM).Choosing a location
You have to choose the best location in Dubai. You can decide either to go to the mainland area or operate within the free zones. Get approval from the DED authorities, to open a restaurant in the mainland area.Draft the business plan
The professional restaurant business plan needs all the necessary factors like target marketing, SWOT analysis, market survey, preparing a financial plan, preparing a contingency plan for uncertainties, research, break-even analysis, your cash flow projections and so on. Each single factor contributes to the growth of your business.Expenditure and estimating cost
A proper financial plan is needed to start your restaurant. Have a track on how much you need to spend. How much would the type of restaurant cost? What would be the cost of staffing and pieces of equipment? How much could the license cost? To estimate the expenditure and investment might be a daunting task in a restaurant business.Documents Needed For Starting A Restaurant in Dubai
Few documents are needed to submit to the authorities before you begin a cafeteria business or a new restaurant in Dubai.- The trading license.
- The food and safety license.
- Get a Non-Objection Certificate (NOC) from the local municipality of Dubai.
- The Ramadan permit.
- The Liquor permit.
- The Pork permit.
- The Delivery permit.
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Do you intend to start a business in Dubai? If so, the first step is to research the free zones of the emirate thoroughly. Thorough research will make you realize the range of benefits they offer for the companies working within them.
The most prominent advantage is being in a highly strategic global location, with the benefits of doing business in the UAE, also with 0% tax on both personal and corporate income.
You will be interested on: Dubai Freezone Company Formation
There are still more features like 100% exemption on import duty, nil currency restrictions, a wide range of business support services, etc.
One must be fully informed about the local business set up practices if intending to form a company in Dubai. The stepwise guide to set up a company in Dubai is as follows.
Understand the free zones
Free zones allow exemption of duty and taxes on the handling, manufacture, and trade of goods and services. These economic areas also permit storage. There are many free zones across Dubai like Jebel Ali free zone, Dubai South, World Trade Centre, Dubai Science Park. Still, most free zones are found at the proximity of airports, and seaports. The proximity to these makes export/import businesses feasible to conduct international trade.How to form a Dubai free zone company
Setting up a free zone company involves five steps.Choose your activity
The first step is to mention the kind of business you intend to perform. There are many options from all sectors provided by the Dubai Department of Economic Development (DED). You must be clear in mentioning every single step that you intend to carry out while making your application. Instead of going through the variable options, it is advisable to seek the help of a company set up to assist you in this step.Choose your company name
The next step before moving on is to select an appropriate name for your company complying with the UAE’s naming criteria. If you wish to include your name in the company name it should be done in full, not just surname or initials. The company name should not contain any profane language or any offensive references. It is better to check beforehand if the selected company name is already registered.License application
This is the most important step in your company registration process. It is advisable to take help from a company formation expert who will help avoid costly delays. Application for free zone license is made directly to the managing authority of the chosen free zone. While making your application, you will have to provide the complete business plan with a completed application form and your passport copy.Visa application
You can make your visa application at the same time as your license application. You can take help from the company formation expert for this process too as part of the business incorporation process. The better part is that you can also sponsor your parents, partners, and children for their UAE visas.Open a corporate bank account
Before trading in Dubai, it is mandatory to open a corporate bank account. Dubai homes different banking institutions, both local and international ones. However, opening bank accounts is a complex process, and you won’t want to waste your time applying to a bank that does not suit your need. It is better if this process is handed over to an expert.Cost of free zone company formation
This is much difficult as the final cost is made of several components. You will have to consider the costs of premises, visa costs (if applicable) along with the cost of free zone license itself. There are also Dubai free zone packages which include trade license, workspace, and one or more visa for you and employees. Here too, you can seek the help of a company formation expert who understands your needs, and budget before finding a package that fits your budget.Starting a free zone company in Dubai
The process of setting a company in Dubai free zone is easy. At the same time, it does take some in-depth knowledge of the customs and regulations prevalent in the UAE. Hence, the better option is to rely on a business set up company. This company can advise you on the process and also help you procure the most suitable license for the type of your business fitting into your budget. Using a business set up service puts you at ease as your license, and visa applications are free of errors, both of which may result in delays or rejection. With a company formation expert, all you need to provide is some basic documentation and little information about your business. The experts will take care of your license and visa applications by timely communication with all relevant departments and authorities. It is that simple when you seek the help of a company formation expert.Setup your Business Today!
Steps to open up a Bank Account in Oman
There are to be followed some stringent rules and regulations to open up a corporate bank account within the domain of Oman, including submission of lots of paperwork. Business consultants mostly are hired by Expats, those who have set up their companies here in the Sultanate to help with the opening procedure of a corporate bank account easily, quickly and hassle-free. Some essential documents to be submitted:
- Two passport sized photographs
- ID Card
- Tenancy agreement to authenticate residential address
- Work-Permit/Residency copies
- Original trade license
- Valid passport including valid resident card and visa
- Expat bank of origin country providing Reference Letter
- Omani employer certified No Objection copy stating expected monthly salary to be deposited into respective accounts.
- Salalah Free Zone Oman
- Oman Special Economic Zone of Duqm
- Oman Mainland Company Formation
- Company Formation in Oman
- Business Setup Service in Oman
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The cabinet of UAE released a resolution under cabinet resolution No. 16 by March 2020 which determines a Positive List of the economic sectors and economic activities. A total of 122 categories are given full ownership in the UAE mainland under the law FDI – Foreign Direct Investment. This positive list of activities and economic sectors would permit almost all Foreign Direct Investment and they can own 100%, a full ownership.
Foregoing 2018, foreign investments can own up to 49% only in UAE Mainland under Law no. 19 of Federal decree law. This fell under the structure foreign investors can hold up to 100% shares but provided a big negative list of activities. So that, taking full ownership was a complete impossibility.
Moving towards the year 2019, the UAE has passed a law in which foreign investors can hold 100% ownership in the positive list of sectors in mainland entities outside free zones. This law by committee FDI persisted some unsatisfied criteria too. Manufacturing, agriculture, hospitality, transport & storage, food services, science and technology, information and communications, education, construction, healthcare and arts are the positive list covered areas in 2019.
With reference to UAE cabinet resolution No. 16, taken recently in 2020 gives 100% ownership to foreign companies which come under three main sectors
- Service sector | 52 activities
- Agriculture | 19 activities
- Manufacturing | 51 activities
These sectors have taken place in the positive list and are fully eligible to hold complete ownership with some conditions. This resolution has set some requirements and conditions for these companies to meet. They are contributions to research and technology, modern technologies, employee headcounts and other activities for the approval of license.
Some interesting activities in the new positive list are manufacturing sports goods, toys, consulting services, electrical equipment, photography, building constructions, education, health care, music bands and advertising agency.
UAE's new cabinet resolutions provide more flexibility, more choices in share hold dealings and greater texture for ownership. FDI committee requires every emirate based firm to streamline licensing and its implementation structures.
Raju Menon, the chairman of Kreston Menon noted that, Even though manufacturing makes the backbone of any country, it didn’t take front row due to legal ownership restrictions and capital intensive project’s nature. Setting up a manufacturing unit and operating it is quite a difficult process. He also added, running up a unit in free zones can permit us 100% ownership but operating costs in free zones are expensive.
Managing partner of Chartered House Tax Consultancy – Mr. Anurag Chaturvedi commented, this full ownership system creates positive effects in job creation, productivity enhancement which results in less importation as goods are being produced in domestic economies. He also added, FDI will do compensation in Covid- 19 decrease in domestic investments and helps in kick starting the economy upliftments.
Due to the present economic effects by covid-19, the release of resolution no.16 of 2020 emerges as an initial welcome move for existing as well new investors and makes the UAE – A investment hub.
Agriculture sector
| ISIC4 | Business activity | Minimum Capital | Conditions and controls for foreign direct investment | |
| 1 | 01111 | Grain cultivation (wheat, corn, barley, etc.) | - use of modern technology- achievement of high added value- contribution in the research and development field- satisfaction of the requirements of the licensing entities in the state | |
| 2 | 01112 | Cultivation of bean crops | ||
| 3 | 0113 | Cultivation of vegetables, melons, roots and tubers | ||
| 4 | 0114 | Cultivation of sugar cane | ||
| 5 | 0116 | Cultivation of fiber crops | ||
| 6 | 0119001 | Flowers and Flower Buds Cultivation | ||
| 7 | 0121 | Growing of grapes | ||
| 8 | 0123001 | Fruits and Citrus Cultivation | ||
| 9 | 0124 | Growing of pome fruits and stone fruits | ||
| 10 | 0125 | Growing of other tree and bush fruits and nuts | ||
| 11 | 0126 | Growing of oleaginous fruits | ||
| 12 | 0127 | Growing of beverage crops | ||
| 13 | 01289 | Growing of aromatic, drug and pharmaceutical crops | ||
| 14 | 0161 | Support activities for crop production | 10 | |
| 15 | 0162 | Support activities for animal production | ||
| 16 | 0163 | Post-harvest crop activities | ||
| 17 | 0164 | Seed processing for propagation | ||
| 18 | 0210 | Silviculture and other forestry activities | ||
| 19 | 0240 | Support services to forestry |
Manufacturing sector
| ISIC4 | Business activity | Minimum Capital | Conditions and controls for foreign direct investment | |
| 20 | 10 | Manufacture of food products (except):1071- Manufacture of bakery products105 - Manufacture of diary products108 - Manufacture of prepared animal feeds | 15 | - use of modern technology- achievement of high added value- contribution in the research and development field- satisfaction of the requirements of the licensing entities in the state |
| 21 | 10 | Manufacture of beverages (except):1101 -Distilling, rectifying and blending of spirits1102 -Manufacture of wines1103- Manufacture of malt liquors and malt | 15 | |
| 22 | 14 | Manufacture of wearing apparel (except):14109 - Tailoring and Sewing of Wearing Apparel1410122 - Military Garments Manufacturing | 15 | |
| 23 | 15 | Manufacture of leather and related products | 15 | |
| 24 | 16 | Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials | 15 | |
| 25 | 2012002 | Straight or Complex Fertilizers Manufacturing | 15 | |
| 26 | 2013 | Manufacture of plastics and synthetic rubber in primary forms | 15 | |
| 27 | 2021 | Manufacture of pesticides and other agrochemical products | 15 | |
| 28 | 2022 | Manufacture of paints, varnishes and similar coatings, printing ink and mastics | 15 | |
| 29 | 2023 | Manufacture of soap and detergents, cleaning and polishing preparations, perfumes and toilet preparations | 15 | |
| 30 | 2029006 | Glues and Prepared Adhesives Manufacturing | 15 | |
| 31 | 2029008 | Manufacture of dyestuffs and pigments | 15 | |
| 32 | 2029009 | Textiles and Leather Finishing Used Chemical Materials Manufacturing | 15 | |
| 33 | 2029013 | Manufacture of photographic plates, films | 15 | |
| 34 | 2029019 | Gelatine and Its Derivatives Manufacturing | 15 | - use of modern technology- achievement of high added value- contribution in the research and development field- satisfaction of the requirements of the licensing entities in the state |
| 35 | 2029021 | Essential Oils Manufacturing (Essence) | 15 | |
| 36 | 2029022 | Extracted Natural Aromatic Products Manufacturing | 15 | |
| 37 | 2029023 | Aromatic Distilled Waters Manufacturing | 15 | |
| 38 | 2029024 | Matches Manufacturing | 15 | |
| 39 | 2029025 | Welding Powders and Pastes Manufacturing | 15 | |
| 40 | 2030 | Manufacture of man-made fibres | 15 | |
| 41 | 2100 | Manufacture of pharmaceuticals, medicinal chemical and botanical products | 15 | |
| 42 | 22 | Manufacture of rubber and plastics products | 15 | |
| 43 | 23 | Manufacture of other non-metallic mineral products | 15 | |
| 44 | 24 | Manufacture of basic metals (except):242 Manufacture of basic precious and other non-ferrous metals2432 Casting of non-ferrous metals | 20 | |
| 45 | 25 | Manufacture of fabricated metal products, except machinery and equipment (except)2529 Manufacture of weapons and ammunition | 15 | |
| 46 | 26 | Manufacture of computer, electronic and optical products | 15 | |
| 47 | 27 | Manufacture of electrical equipment | 20 | |
| 48 | 28 | Manufacture of machinery and equipment n.e.c. (except)28259 Tobacco Processing Machinery Manufacturing | 100 | |
| 49 | 29 | Manufacture of motor vehicles, trailers and semi-trailers | 100 | |
| 50 | 3011101 | Building of Commercial Vessels | 100 | |
| 51 | 3011103 | Ships and Floating Structures Sections Manufacturing | 100 | |
| 52 | 3011905 | Construction of Drilling Platforms, Floating or Submersible | 100 | |
| 53 | 3011906 | Construction of Floating Structures | 100 | |
| 54 | 3011907 | Building of Hovercraft | 100 | |
| 55 | 3012 | Building of pleasure and sporting boats | 15 | |
| 56 | 3020 | Manufacture of railway locomotives and rolling stock | 20 | |
| 57 | 3030 | Manufacture of air and spacecraft and related machinery (except):3030006 Military Ballistic and Guided Missiles Manufacturing | 100 | |
| 58 | 3090 | Manufacture of transport equipment n.e.c. | 20 | |
| 59 | 31 | Manufacture of furniture | 15 | |
| 60 | 3220 | Manufacture of musical instruments | 2 | |
| 61 | 3230 | Manufacture of sports goods | 3 | |
| 62 | 3240 | Manufacture of games and toys | 3 | |
| 63 | 3250 | Manufacture of medical and dental instruments and supplies | 20 | |
| 64 | 3290 | Other manufacturing n.e.c. | 3 | |
| 65 | 3312001 | Repair and maintenance of train engines | 15 | |
| 66 | 3312002 | Repair and maintenance of engines ship | 15 | |
| 67 | 3315001 | Repair and maintenance of ships | 15 | |
| 68 | 3315004 | Repair and maintenance of trains and railway equipment | 15 | |
| 69 | 3315005 | Maintenance and Repair of Aircrafts Engines | 15 | |
| 70 | 3315006 | Repair and maintenance of aircraft | 15 |
Service sector
| ISIC4 | Business activity | Minimum Capital | Conditions and controls for foreign direct investment | |
| 71 | 6910002 | Legal Consultancy Offices | As per the applicable regulations | - Not to advocate before the UAE courts.- Not to carry out any judicial procedure before courts, arbitral tribunals, and judicial and administrative committees.- Not to carry out attestation activities- To obtain the approval of the relevant entities in charge of licensing such activities in the State- To be a natural or legal person known for its excellence in this field |
| 72 | 692 | Accounting, bookkeeping and auditing activities; tax consultancy | As per the applicable regulations | Only permissible for tax planning for businesses and consultancies, preparing and reviewing taxes on businesses |
| 73 | 711 | Architectural and engineering activities and related technical consultancy | As per the applicable regulations | To be a natural or legal person known for its excellence in this field |
| 74 | 862 | Medical and dental practice activities | ||
| 75 | 75 | Veterinary activities | ||
| 76 | 620 | Computer programming, consultancy and related activities | As per the applicable regulations | To provide a technical team of no less than 5 specialized programmers by the end of the first year of the company |
| 77 | 72 | Scientific research and development | As per the applicable regulations | As per the applicable regulations |
| 78 | 7730-77300 | Renting and leasing of other machinery, equipment and tangible goods | ||
| 79 | 471 | Retail l sale in non-specialized stores (except Cooperative Societies 4711001) | ||
| 80 | 731 | Advertising | ||
| 81 | 732 | Market research and public opinion polling | ||
| 82 | 702 | Management consultancy activities | ||
| 83 | 712 | Technical testing and analysis | ||
| 84 | 331 | Repair of fabricated metal products, machinery and equipment (except ships or aircrafts and other transport equipment) | ||
| 85 | 8121-81210 | General cleaning of buildings | ||
| 86 | 742 | Photographic activities | ||
| 87 | 8292-82920 | Packaging activities | ||
| 88 | 823 | Organization of conventions and trade shows | ||
| 89 | 741 | Specialized design activities | ||
| 90 | 7490005 | Legal Translation Services | ||
| 91 | 7490006 | Translation services, movies and television programs | ||
| 92 | 7490012 | Translation Publications Services | ||
| 93 | 8299002 | Translation Services | ||
| 94 | 41 | Construction of buildings | As per the applicable regulations | Only permissible for large-scale infrastructure projects such as airports, highway roads, sport facilities and projects whose value exceed AED 450,000,000 |
| 95 | 42 | Civil engineering | ||
| 96 | 432 | Electrical, plumbing and other construction installation activities | ||
| 97 | 433 | Building completion and finishing | ||
| 98 | 431 | Demolition and site preparation | ||
| 99 | 439 | Other specialized construction activities | ||
| 100 | 7730009 | Construction and Building or Demolition Machines and Equipment Renting | ||
| 101 | 851 | Pre-primary and primary education | As per the applicable regulations | Public education excluded.To obtain the approval from the entities in charge of education to license such activities and to comply with such standards and controls as may be determined by them.To comply with the conditions and standards of school facilities and to ensure a high level of education quality |
| 102 | 852 | Secondary education | ||
| 103 | 853 | Higher education | ||
| 104 | 854 | Other education | ||
| 105 | 370 | Sewerage | As per the applicable regulations | As per the applicable regulations in this regard |
| 106 | 382 | Waste treatment and disposal | ||
| 107 | 3900001 | Pollution Consequences Treatment and Environment Protection | ||
| 108 | 861 | Hospital activities | 100 | Subject to the approval of the relevant authorities in light of the economic need taking into account the number of hospitals, medical and health centers in a specific area.Dubai Healthcare City is excluded from the above condition. |
| 109 | 869 | Other human health activities | 70 | As per the applicable regulations |
| 110 | 8211001 | Hotel Management | As per the applicable regulations | |
| 111 | 8211004 | Restaurants Management | ||
| 112 | 90009 | Creative activities and presentation of arts drama (theater) | Permissible only for theater activities and live bandsAs per the applicable regulations | |
| 113 | 9000104 | Music Band | ||
| 114 | 9000110 | Circus | ||
| 115 | 8130002 | landscape and gardening services | ||
| 116 | 9103-91030 | Botanical and zoological gardens and nature reserves activities | Permissible only for public garden services and specialized garden services. | |
| 117 | 5012-50120 | Sea and coastal freight water transport | As per the applicable regulations | |
| 118 | 5022001 | Internal Water Transportation of Goods | ||
| 119 | 7730016 | Commercial Ships Rental | ||
| 120 | 5222002 | Ship Piloting and Towing | ||
| 121 | 5222007 | Marine towing of boats and jet sk | ||
| 122 | New | Activities of holding companies in intellectual property |
As everyone hopes this will be a better investment structure.
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Setup Business in Oman with 100% foreign ownership: Under Foreign Capital Investment Law that has been introduced recently on 7th January, 2020, Oman companies can now enjoy 100% foreign ownership, except few services and trades in the Sultanate. There are about 37 commercial activities that have been prohibited for 100% foreign ownership. It includes transportation, photocopying & translation services, laundry, tailoring, automotive and vehicle repairs, selling of drinking water, recruitment & manpower services, salon & hairdressing services, fishing, taxi operation, rehab homes for orphans, disabled and the elderly. This blacklisted area only share a small part of the Omani Sultanate economy. A legal expert based in Muscat is of the opinion that the new law introduced by the Royal Decree 50/2019 (FCIL), new sectors are promised for 100% foreign investments.
Addleshaw Goddard Oman, Corporate Law specialists and Head of Corporate Oliver Stevens (Pictured) said, “Significant steps have been taken by the MOCI (Commerce & Industry Ministry) to modernize the new FCIL, so as to facilitate smooth, investment friendly regulatory authority in Oman. We are informed that the law allows all companies that are established in Oman with 100% foreign ownership, besides those practicing activities mentioned within the recently circulated ‘blacklist’.
He further added, “The blacklist specifies 37 activities not including segments which previously were stringent in Oman ownership requirements like restaurants, gas, oil and defence.
Emphasizing upon the significance of the new statute towards fulfilling Oman’s ambitions to boost foreign investment inflow, he noted that Oman market on introduction of the FCIL will only be placed in a much stronger position. Now, foreign investors are welcomed openly and there is a robust regulatory framework to conduct business.” He also pointed out that minimum share capital is not stipulated by the FCIL. “In what is believed to be a significant impact upon Oman’s foreign investment landscape, previous practices needing companies having 1+ foreign shareholders to own RO 150,000 (approx. $390,000) minimum starting share capital has been relaxed. It is essential to note that registration fees for such companies are higher at the Ministry than what they were previously and begins at RO 3,000 (approx. $7,800), subjected to increase, which again depends upon the new company’s proposed share capital.
Stevens further added, “As Executive Regulations get issued later this year, further clarity can be had pertaining to the specific provisions made in the new law.”
You will also be interested on:
- Salalah Free Zone Oman
- Oman Special Economic Zone of Duqm
- Oman Mainland Company Formation
- Company Formation in Oman
- Business Setup Service in Oman
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Reasons to Start Business in Oman: Are you looking for some country in the middle east to start your own business? You should consider Oman as your destination country. The sultanate of Oman is beautiful and welcoming culture. Traditionally Oman has been dependent on oil, and the government has been encouraging investments and establishing new businesses in the country. There are some benefits given by the government in the case of foreign investors. With a widely and recently diversifying economy, Oman offers to be the next big business destination to start a new business.
Location
Opening your business in a favourable location is essential. The same holds when selecting the country for establishing your new business as well. Oman is the gateway to the Arabian countries. Additionally, it serves as a bridge between Asia and the Arab countries, making it uniquely placed for profitable business opportunities.Ending Oil Monopoly
The Sultanate of Oman saw a significant development trend when oil was discovered. Oman became synonymous with oil and related markets. Now, the country is at the point of slowly moving away from the oil market and focusing on expanding and diversifying into various other business opportunities.Economic growth in Oman
The government has launched programs targeting economic growth consistently. Currently, at the end of the ninth five-year development plan, Oman has already announced Oman vision 2040, with plans to create business opportunities in infrastructure, hospitality, technology, manufacturing, tourism and more. There are many on-going and future projects aimed at building Oman as a link between Asia and Africa.Infrastructure and Human Resources
Investments have been made to set up global standard airports and ports. Roadways have also been developed extensively to facilitate travel. Substantial investments are being made to expand the railway network to comprehensively cover all areas of the country.Foreign investment benefits and Favourable Tax Environment
Oman charges a flat rate for corporate tax. There are no taxes for foreign exchange, and there are tax-free business opportunities to consider as well. An investor-friendly business environment has been created in Oman with no limits of capital and repatriation of profits. It is economically stable, provides a safe and vibrant environment for starting new businesses. Oman is considered in the top 20 destinations worldwide for establishing a business. You can register as an LLC, typically with 70% ownership or open a branch of your business in Oman. You can also operate in the free zone. You will also be interested on:- Salalah Free Zone Oman
- Oman Special Economic Zone of Duqm
- Oman Mainland Company Formation
- Company Formation in Oman
- Business Setup Service in Oman
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