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Business Setup Process in Oman

business-setup-process-in-oman

Starting a Business in Oman, like other GCC countries involves certain steps that need to be cleared appropriately. Let’s start by taking a look at the basic requirements before turning on to the specific processes.

Requirements to Register a Company in Oman

  • A minimum capital requirement of OMR 150,000
  • At least 2 Shareholders
  • A registered office address
  • One or more Directors of any nationality

Company Registration Process in Oman

The business ensemble is given a physical platform by the company formation process. The company Formation process involves certain steps which are to be followed for the incorporation and the post-incorporation process to set up a business entity in Oman.

INCORPORATION PROCESS

  • Documentation

The first and foremost step where all the documents necessary are submitted for the initiation of business. The necessary documents necessary are listed below

  • Shareholders identity card
  • Shareholders visa and passport
  • Articles and memorandum for Association
  • Tax Registration Certificate
  • Certificates from Chamber of Commerce and Industry Affiliation
  • Field company Registration form
  • Initial deposit certificate
  • Opening a Capital Account

After submitting the required documents, a capital account is opened to deposit the initial incorporation fee

  • Incorporation

Incorporation involves the submission of the following essentials

  • Approval from municipality
  • Legalized opening forms
  • Certificate of share capital

POST-INCORPORATION PROCESS

The post-incorporation process involves the following steps

  • Application for Visa

After the incorporation process, it is mandatory to apply for visa services for all the employees. Visa consultants can assist you in availing visa at a swift pace.

  • Registration of Employees

It is necessary to acknowledge the employees as part of your organization and hence you need to register the employees under the company name.

  • Bank Account Conversion

In order to ease business transactions, you will have to convert your capital account to the current account.

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