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Representative Office Setup Oman
Categories Business, Business Setup, company, Oman

Representative Office Setup in Oman

Oman has flourishing business platforms located in the Middle-East region. It opens the gateway of business owners to set up a business from scratch or expand the established entities.

One such form of established business expands themselves or enters the market by incorporating the representative office. This gives a clear idea on ways to incorporate the representative office in Oman for accelerating the business growth globally.

Representative Office

The representative office is the business structures formed by companies to carry non-transactional operations in new markets.

As per Omani Law, the representative office can be 100% foreign-owned, controlled and restricted for making direct sales in Oman. They're governed by the Representative Office Regulatory Law formed by the Ministerial decision number 22/2000. Their activities are limited to:

  • Market research
  • Parent company's promotion

It is mandatory for the Oman Representative Office to have one individual to be a resident of Oman.

Organizing the documents in a sequential manner makes the incorporation process easier. The necessary documents needed are:

  • Certificate of Articles and Memorandum of Association from parent company.
  • Commercial Registration Certificate
  • Authorization letter for manager of representative office
  • Undertaking letter for liabilities of the parent company.
  • Certificate proving the existence of a parent company
  • ID copies with authorized sign
  • Specimen sign of directors

Then you have to carry with the core establishment process of the representative office in Oman.

How To Set Up A Representative Office In Oman

Initial Capital Deposit

The initial capital must be deposited in the local bank after the company name registration.

License And Permit

Businesses have diverse activities for special permits. Get business permits and license to kick-start the organizational activities.

Tax Department's Application

After the permit, you have to apply in the tax department of the Finance Ministry.

Get Municipality License

You have to obtain the Municipality license.

Enrolling with Royal Oman Police

The business entity must be registered with the Royal Oman Police and are mandated for foreign companies.

Registration with the Ministry of Manpower

You have to register with a Ministry of Manpower to get local resources. It keeps the count of foreign and local employees and gives the clarity if more resources have to be hired or not.

Social Protection

The final step to end your registration at the representative office of Oman. You have to register the company for social protection and it ends with the Public Authority.

Looking for a Business Setup company in Oman? Call us today on +971 4240 6939 / +968 7819 8097

Tags: Company Formation in Oman, Business Setup Service in Oman, Oman Mainland Company Formation, Company Registration in Oman, Oman Special Economic Zone of Duqm, Oman Free Zone Company Formation, Sole Proprietorship Company Registration in Oman, Opening a Branch Office in Oman, Oman Joint Stock Company Formation, Salalah Free Zone Oman, Al-Mazunah Free Zone Oman, Sohar Free Zone Oman

 

Sole Proprietorship Company Registration in Oman
Categories Business, Business Setup, company, Oman

Sole Proprietorship Company Registration in Oman

Oman is an Arabian country located in the south eastern Arabian Peninsula. It's been on the priority list of business owners and international investors. For expansion or to start the new business setup at Oman, the location needs flexibility for investors to choose any one of them. Besides partnership firms, the location allows individuals to initiate with low capital, also called as a sole proprietorship. If you want to invest in Oman for a low capital, then choose a sole proprietorship firm.

Sole Proprietorship Firm

One of corporate structures is the sole proprietorship that gets initiated by the individual serving as the sole owner. The individual can trade on his account and gets a trade license on his name. Owner bears the rights of liabilities and assets.

Features Of Oman's Sole Proprietorship

  • Single person owned
  • No restrictions to close or start
  • Owner has the complete control
  • Low cost of compliance and formation
  • Unlimited liability for the owner
  • Losses and profits borne by the owner
  • No special legislation

Documents Needed To Set Up The Oman's Sole Proprietorship

  • Public Key Infrastructure enabled with ID card
  • Public Key Infrastructure enabled with Resident Card
  • Authorized Signatories Form
  • Individuals Identity Card

Registration Process Of A Sole Proprietorship In Oman

Minimum Capital
The individual must register their business entity for the minimum capital of 3000 OMR for initiating the sole proprietorship firm.
Liaise with Ministry of Commerce & Industry
The mentioned documents have to be presented at MOCI for initiating the registration process.
Register with Royal Oman Police
It is mandatory for the individual to register the business entity with ROP and get a good standing certificate. Few government approvals are needed to complete the registration process. Trade licenses are issued by the Ministry of Commerce and Industry. Then the core business practices are commenced to make the partnership firm. Tags: Company Formation in Oman, Business Setup Service in Oman, Oman Mainland Company Formation, Company Registration in Oman, Oman Special Economic Zone of Duqm, Oman Free Zone Company Formation
Oman's Joint Stock Company Formation
Categories Business, company, company formation, Oman

Oman Joint Stock Company Formation

Oman business and legal framework has a flexible way so any corporate structure can fit in their business arena. Investors everywhere from the world find Oman as a platform for the business establishment. The location is in demand for the present times. If you're an owner or business investor, looking to set up a business in Oman, you can choose to incorporate the Joint Stock Company.

Joint Stock Company

The Joint Stock Company has business structures where shareholders can sell or buy shares of the company. Joint Stock Company has a capital divided into shares that will be shared at an open market.

Oman Joint Stock Company

Oman has the platform for owners and business investors to initiate a Joint Stock Company. The companies which trade the shares publicly are called Public Joint Stock Companies. Omani rules for some essentials are
  • Minimum share capital must be 150,000 OMR
  • The minimum of two shareholders
  • 30% of shares held by an Omani shareholder
  • Get approval from Ministry of Commerce & Industry
Documentation is the essential role in the company’s incorporation process. Here are the important documents needed to set up the Joint Stock Company in Oman:
  • Oman legal guardian consent
  • Memorandum & Articles Of Association
  • Company’s Feasibility Study
  • Company’s proposed by-laws
  • Bank Certificate With The Deposit Of Initial Capital
  • Sponsor's Non-Objection Letter For Oman residents
  • Passport copy for foreigners
  • Certificate of Criminal record clearance for the foreigners
  • Financial stability proof
  • Certificate of Company Registration
  • Oman Company's Minutes Of Meeting

Process To Set Up The Joint Stock Company (Oman)

  • Name reservation for business entities
  • Applying to Director General Of Commerce (DGC) with aforementioned documents
  • Payment has to be made
  • DGC can respond within 30 days related to the confirmation of company's formation
  • Constitutive General Meeting needs to align with the registration process
  • Election of auditors and board members
  • Duly filed commercial registration form in Arabic, also signed in Registrar Office
If approved, the Company Registration certificate has to be collected.

Benefits To Form The Oman Joint Stock Company

  • 100% ownership
  • No personal or corporate tax
  • Strategic Location - open gates to Middle-East countries
  • Fast economy development
  • Friendly Government initiative
  • Natural resources
  • World class infrastructure
Tags: Company Formation in Oman, Business Setup Service in Oman, Oman Mainland Company Formation, Company Registration in Oman, Oman Special Economic Zone of Duqm, Oman Free Zone Company Formation
Ways & How to Start a Business in Oman
Categories Business, Business Setup, Oman

Ways & How to Start a Business in Oman

Like GCC countries, Oman company registration needs the involvement of some steps. Here comes the basic requirements that must be considered.

Oman Company Registration Process

Oman's company registration is the process where the business entities are given a physical platform. There are few steps for starting the process. They are for incorporation and post-incorporation process to follow for opening a company in Oman.

Oman's Incorporation Process

Trade Name
The trade name must relate to business and must be unique. Choose a name and submit its application to the Ministry of Commerce & Industry.
Submission Of Incorporation Documents
It is the initial stage where needed documents are submitted for initiating the incorporation process. Essential documents are:
  • Memorandum and Articles Of Association.
  • Shareholders' Passports And Visas.
  • Certificate of Tax Registration.
  • Shareholders ID card.
  • Filed Company Registration Form.
  • Certificate for Chamber of Commerce & Industry Affiliation.
Opening The Capital Account
When the documents are submitted, the capital account must be opened to deposit the fees of initial incorporation.
Registration With Chamber Of Commerce
You can register with Oman's Chamber of Commerce & Industry for compliance with commercial regulation and rules needed for the corporate in Oman.
Register Your Business
It involves the submission of essentials like:
  • Legalized Opening Forms.
  • Share Capital Certificate.
  • Municipality Approval.

Oman's Post-Incorporation Process

Visa Application
Apply for visa services for your employees, after the incorporation process. You can talk with visa consultants to get the visa services at a faster pace.
Employee Registration
Employees have to be acknowledged for the part of the business entity and the employee's registration must be mandatory under a company name.
Conversion Of Bank Account
Business capital account must be converted to a current account to ease the business transactions. Tags: Company Formation in Oman, Business Setup Service in Oman, Oman Mainland Company Formation, Company Registration in Oman, Oman Special Economic Zone of Duqm, Oman Free Zone Company Formation
Benefits of Company Registration in Oman
Categories company, Oman

Benefits of Company Registration in Oman

A company registration in Oman gives benefits to expats like free trade zones, tax exemptions and government special land allocation with incentives to prominent investors. According to the World Economic Forum, Oman has proved themselves in the international playground and their Oman has investment opportunities and tremendous commercial connectivity. The Ministry of Commerce and Industries look for innovative ways to support entrepreneurs and businesses to excel and succeed. macroeconomic environment is highly ranked in the top 20 countries of the world. Oman is the best place for settling as an expat family. Their government makes it easy to settle, offers freehold properties options along with property rights giving high security, accompanied with a safe environment. New regulations have been set for properties usufructing the mortgage system that permits foreigners to have long term properties for 99 years and to boost the real estate sector. Art infrastructure in the country makes them easier to commute and transport to Oman. They have many airports in certain regions to facilitate transport and connect between cities. Oman provides various trade licenses. On the basis of Omani law, investors benefit from an LLC set up, free zone set up, Open Joint Stock Company and Closed Joint Stock Company. These kinds of facilities permit investors to select the projects and activities of their choice. LLC is the popular Trade License that is used in Oman.

Oman Tax Environment

Oman has an investor-friendly tax environment for businesses. Oman doesn't include tax for business owners, and for personal income. Oman gives an exchange of taxes across the countries. The LLC Company of Oman has the corporate tax of 15% flat. Oman introduced the VAT system with just 5% in April 2021. Free zone companies can benefit from a complete tax exemption for 50 years. Goods and trading across the GCC moves for custom free.

Cost Of Oman's Trade License

Starting price for a trade license in Oman is 3,200 OMR. There are three different kinds of free zones today, and each differs from the other. For instance, the general trading license cost can be as follows:
  • Registration cost for Salah or Sohar Free Zone-3000 OMR annually.
  • Registration cost for KOM-2200 OMR Annual.
  • Registration cost for SEZD-1200 OMR Annual.
All license costs have to factor with consultant fees for setting up a company in Oman.
Reasons to Setup a business in Oman Mainland
Categories Business, Business Setup, Oman

Reasons to Setup a Business in Oman Mainland

When registering a company in Oman, Mainland makes benefits to foreign investors like free trade zones, tax exemptions and government special land allotment for prominent International investors and entrepreneurs. Oman has the global playground and macroeconomic environment positioned in 20 main nations of the world based on the World Economic Forum. Oman has venture openings and gigantic business availability. The Ministry of Commerce and Industries search for creative approaches to help business visionaries and businesses to succeed. Oman has an incredible spot to settle as an immigrant family. Public authority makes it simple to settle, offers freehold properties alternatives along with property rights and a protected climate. New guidelines for properties usufruct the mortgage system that permits foreign investors and International entrepreneurs to appreciate long haul properties for supporting the real estate sector. Best in class infrastructure makes it simpler to drive and move to Oman. Oman has a few air terminals to support transport between urban communities.

Process Of Oman's Company Registration

The company registration in Oman has a cycle where the business entity has the actual stage. There are few steps to be followed in this process. Below mentioned are the means identified by the incorporation just like the post-incorporation process to follow when you chose to set up a business in Oman.

Oman Mainland Incorporation Process

Documentation for Oman Mainland Incorporation
Essential documents must be submitted for starting the incorporation process. They are:
  • Certificate of Initial Deposit
  • Identity Card of Shareholders
  • Tax Registration Certificate
  • Filed Company Registration Form
  • Shareholders' Visas and Passport
  • Memorandum and Articles of Association
  • Chamber of Commerce and Industry Affiliation Certificate
Capital Account Opening
As the documents are submitted, the capital account must be opened to deposit the initial incorporation fee.
Incorporation
This step has the submission of essentials like:
  • Municipality Approval
  • Share Capital Certificate
  • Legalized Opening Forms
Professional License in Oman for Healthcare Service
Categories License, Oman

Professional License in Oman for Healthcare Service

When you're a healthcare professional, who targets the job in the Gulf Cooperation Council (GCC) region, especially in Oman, learn about a few things. Regulators of the GCC region cannot practice without certifying that you're competent and the documents are real. The regulator that oversees equivalency certification in Oman is the Oman Medical Specialty Board. They need qualified foreign healthcare professionals to take the Prometric exam and obtain documents verification from DataFlow.

Oman's Medical Specialty Board

Oman's Medical Specialty Board has a self-governing regulator that has a vision that uses the word LIFE. They have to develop leaders to monitor the Impact of leaders' initiatives. For advancing the medical professions, they'll evaluate healthcare professionals' fitness for practice. Then foster the environment for education. Oman's Medical Specialty Board administers and oversees exams locally and internationally. Besides local exams, the contracted Prometric can dispense medical exams. This supervises the evaluation of the professional licenses issued from other countries. Prior to validating the documents, ensure its authenticity through the DataFlow issue and PSV Report on it.

Prometric

Prometric exam is most asked while getting an Oman Healthcare Professional license. Some think they need to get the DataFlow exam first before taking the Prometric exams. It's up to you to take either the Prometric exam first or the DataFlow test first. Here is the step by step guide of websites on the provider and regulator. People are apprehensive while taking exams. They need to know the questions asked. The questions cannot be provided prior to the test. At Oman's Medical Specialty Board website, you can find the coverage of exams. Nurses can have the exam coverage of 2.5 hours with 100 multiple choice questions. Visit Oman's Medical Specialty Board website to know more.

DataFlow

Oman's Medical Specialty Board needs your documents to get verified as authentic through The DataFlow Group. Sign up with TrueProfile.io to get this done ahead of time. You aren't tied up with one regulator of GCC. Transfer your PSV Report from TrueProfile.io to your preferred regulator, if you like to change your Oman's application. After choosing your employer, Oman's Medical Specialty Board will evaluate your documents. If your qualification gets awarded equivalency from Oman's Medical Specialty Board, you'll get a license issued to work. Contact experts at Black Swan for Business Setup service in Oman.
Legal-Corporate-Structure---in-Oman-for-Business-Setup
Categories Business, Business Setup, Oman, Startup

Legal Corporate Structure in Oman for Business Setup

Various company structures have been offered in Oman. You must understand the difference of structure types and models of Oman and make informed decisions based on ownership conditions, needs and requirements. Helpline Group can guide you in this process and you can choose the best company structure for Oman Company Formation. Oman's Company Formation is based on the Laws of Foreign Business and Investment of 1974, Commercial Companies Code and the Commercial Register Law of 1974.
  • Commercial Agencies
  • Limited Liability Company
  • Branch Office
  • Offices of Representative Trade
  • Company of Limited Partnership
  • Holding Company
  • Joint Venture
  • Joint Stock Company / Shareholding Company

Oman's Limited Liability Company Formation (WLL)

WLL or a Limited Liability Company can be the basic form of Oman's business formation. It is used for the small businesses of the country if fixed capital gets divided into equal shares and is registered with the Ministry of Commerce and Industry of a Commercial Register.

Below conditions can be followed for Oman's LLC

  • The minimum of 2 shareholders and maximum of 40 shareholders
  • Liability can be limited for investments
  • Non-specified minimum share capital
  • GCC citizenship is granted for foreign investors and can have the complete ownership of Oman's LLC
  • A minimum of 30% ownership can be mandatory for local partners
  • 100% tax exemptions are allowed for free zone companies
  • LLC's are more suited for Oman's small businesses
  • Minimum of 20000 OMR capital requirements are needed for US, Oman or GCC owned companies
  • Foreign investment companies can hold 150000 OMR

Oman Company's General Partnership

All conditions of LLC are applicable in the general partnership. But partners in a general partnership can have an unlimited business liability that extends partners' wealth which seems risky for the business structure in Oman. It can be easy to register under the Commercial Register, but the general partnership company includes a written agreement of partnership detailing the partner's responsibilities and activities in business. Besides these:
  • Company name should have the name of a partner or partners.
  • General partnership ends if a new partner is added or an existing partner comes out from it.
  • General partnership company concludes if the partnership period gets over.

Oman Company's Limited Share Partnership

Another form of LLC is the Limited Share Partnership in Oman. Besides LLC's conditions and norms, LSPs have few provisions and limitations.
  • There are no limitations to add maximum partners.
  • Limited Share Partnership are registered through the commercial registrar.
  • A minimum of one general partner and one limited partner is needed.
  • General partners can have unlimited liability and responsibility to manage the business.
  • Limited liability is provided for limited partners for their capital contribution and are prohibited to engage in managerial responsibilities and activities.

Oman's Holding Company Formation

Oman's holding company manages and owns other businesses of Oman. This company can own any kind of company in Oman that have limited liability companies and joint-stock companies. The holding companies have 50% ownership or more in companies. The company name should have "Holding Company" at the end name. You must have 2 Million OMR or more in capital for your holding company in Oman. Get in touch with the Helpline Group for information on the set-up of a holding company in Oman.

Joint Stock Company or Shareholding Company in Oman

The shareholding company or joint-stock company in Oman has a system where the fixed amount of capital is distributed from the number of shares of public subscription. Oman's Joint Stock Company needs at least OMR five hundred thousand for capital investment for not intending on offering public subscription of shares. Moreover, if the public subscription gets involved, the capital needs exceed up to 2 million OMR. Shareholders get preemptive rights and they have different needs for companies to follow while setting a joint-stock company in Oman. Their requirements are mandatory like:
  • At least 3 shareholders
  • Maximum 12 and minimum 3 Board of directors
  • Register for Commercial Registrar
  • Get approval from Oman's Ministry of Commerce and Industry
  • Adhere and follow the Muscat Securities Market Law

Oman's Joint Venture Formation

Joint ventures can be formed between businesses of Oman that comprises foreign entrepreneurs and businesses. Though it is legally recognized as a contract form, it won't have legal recognition as their entity. The responsibilities and roles of a joint venture are good as the agreement or contract also their Memorandum of Association. Their beginning and end activities depend on the agreement of involved parties or the Memorandum of Association that have duties and obligations. Contact Helpline Group for getting information on setting up an Oman's Joint Venture.

Oman's Representative Trade Offices

Foreign investors and companies can open representative trade offices in Oman for carrying out their company activities. But such offices are not permitted for the activities of profit-making. The local person must represent their company in Oman. These businesses are suited for business support and customer relationships. You have to present a copy of the Article of Association and the undertaking letter to set up a representative trade office in Oman. The Helpline Group manages these requirements and can set up the representative trade office in Oman.

Oman's Commercial Agents

Commercial agencies represent the parent company in Oman. It is mandatory to have a commercial agent for such businesses. Any foreign business can appoint a local agent to distribute goods and engage with local customers. Local commercial agents must have an Omani company or can be Omani citizens. The commercial agent business needs to get registered with the Ministry of Commerce and Industry and the member of Oman Chamber of Commerce and Industry. Helpline Group assists you to set up a commercial agency in Oman to carry out the business activities.

Oman's Branch Offices

Oman must have their entire owned branches of foreign companies if there is a contract with a government entity in Oman. It is one way to have 100% ownership in Oman that is not suited for government-controlled entities, although branch offices don't need sponsors, local partners or share capital. The branch office setup is valid until the registration period of the contract and permitted to set up the branch office in Oman from the Ministry of Commerce and Industry. You will also be interested on:
process-of-company-setup-in-oman-muscat
Categories Business, company, Oman

Process of Company Setup in Oman

Oman foreign investors always incorporate a Limited Liability Company (LLC). Here are the procedures for company registration in Oman that incorporate an LLC. Their procedure can be followed by the applicant's company registration process in Oman.

Activities Carried Out In Businesses

Applicants can choose activities that are carried out by LLC. If insurance and banking activities have to be carried out, the applicant can take the consent of the Ministry of Commerce and Investment.

Company Registration

Applicants must apply at the Ministry of Commerce and Investment if registering the company for a trade license. Their permits can be secured by the applicant.

Document Submission

It takes time for the Ministry of Commerce and Investment to get back to applicants. At this time, the applicant can check whether their documentation of Oman's company registration is in order. Essential documents must have the memorandum of association along with articles of association for the company.

Name Reservation

Applicants can choose a suitable name for LLC. The name can reflect the objectives and goals of the business. It is provided in Arabic and has a legal meaning for it.

Incorporation Certificate

Above mentioned steps can be carried out to receive a certificate of incorporation. Documents required are:
  • Articles of Association
  • Memorandum of Association
  • Certificate of Tax Registration
  • Shareholders Visas and Information
  • Initial Deposit of Certificate
  • Shareholder's Identity Card
  • Company Registration Form Filed
  • Certificate of the Chamber of Commerce and Industry Affiliation
You will also be interested on:
oman-mainland-company-formation
Categories Business, Business Setup, Oman

Oman Mainland- Company Formation Services

Oman consists of a small population that requires emigrants to grow and develop. Government authority activities are to draw the businesses and foreign investors to call Oman a second home. Government authority's trade agreements and effective global relations in giving a protected climate to draw in the foreign investment incentives. With new adjustments of guidelines and standards, we observe more company formation in Oman. Activities fuel for little to medium companies and new businesses in Oman. The professional business consultants of the Blackswan Business Setup team help the stressful process go with ease.

Why Setting up A Business in Oman Mainland?

To register a company in Oman Mainland serves beneficial to foreign investors with free trade zones, tax exemptions, and government special land allotment having increment for prominent investors and international entrepreneurs. Oman has a global playground of macro-economic environment that positions the main 20 nations of the world based on the World Economic Forum. Oman provides venture openings and gigantic business availability. The Ministry of Commerce and Industries has been searching for creative approaches to help business visionaries and businesses to succeed. Oman has been an incredible spot to settle as an immigrant family. Public authority makes it simple to settle, giving freehold properties alternatives to the property rights along with a protected climate and high security. New guidelines have been set for the properties of a mortgage system to permit foreign investors and international entrepreneurs to appreciate long haul properties and to support the real estate sector. Having the best in class infrastructure, the nation makes it simpler to drive and move to Oman. They have fabricated a few air terminals from locales to interface for the transport of urban communities.

Registration Process of Oman Company

Company registration of Oman is where the business entity is given an actual stage. There are few steps to follow.

The Incorporation Process

Documenting

The first step for every essential document to be submitted is by starting the incorporation process. The essential documents needed are:
  • The Identity Card of Shareholders.
  • Initial Deposit Certificate.
  • Company Registration Form Filed.
  • Certificate of Tax Registration.
  • Articles of Association and Memorandum.
  • Shareholders’ Visas and Passports.
  • The Chamber of Commerce and Industry Affiliation Certificate.

To open the Capital Account

When documents are submitted, a capital account must be opened to deposit the initial incorporation fee.

Incorporating

This step needs the submission of essentials:
  • Approval from Municipality.
  • Forms of Legalized Opening.
  • Certificate of Share Capital.

The Process of Post-Incorporation

Visa application

After the incorporation process, you have to apply for visa administrations for every employee. Have a word with visa experts to benefit the visa administration quicker.

Registration of Employee

Employees are recognized as a part of the business entity and for the registration of employees under their company name.

Bank Account Conversion

Business capital accounts must be changed to the current record to facilitate effective business transactions. Setup you company in Oman with 100% foreign ownership. Call us today and get free consultation You will also be interested on:
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