Why setting up your Company in Oman Free Zones

There has been a favorite spot to start a business in Oman by international investors, due to their availability of Free zones. If you like to expand your businesses in Oman, you can choose Oman’s free zones.

Here’s the guide to give you a complete overview of company formation in Oman’s free zones.

Companies that are under special economic zones and Free zones of Oman can benefit the tax exemptions and commercial incentives like 100% foreign ownership.

Recently, Oman has had free zones like Sohar Free Zone, Salalah Free Zone and Al Mazunah Free Zone and special economic zones like Knowledge Oasis Muscat and Duqm Special Muscat with the intention to attract several businesses of Oman. Every zone has their own incentives.

Salalah Free Zone

They’re located in the south of Oman. It attracts investors of logistics, industrial estate and mixed-use developments.

Salalah Free Zone has 100% foreign company ownership and the Omanisation rate of 20%. They have zero custom duties and the 30-year tax holiday.

Investors don’t have to meet the minimum share capital to incorporate there.

Sohar Free Zones And Port

It is near the Sohar Industrial Estate and Port of Sohar. They support investors in logistics, steel and metal also in food sectors.

Investors can incorporate companies like trade activities for setting up their business. Companies under the Sohar Free Zone have exemptions of custom duties like imports and a minimum share capital requirement.

Share capital is declared for Sohar Free Zone in investors’ application has to be deposited in the company’s bank statement.

Omanisation gets reduced upto 15% for the 10 years from the incorporation date and Sohar Free Zone companies can have a 25-year tax holiday.

Al Mazunah Free Zone

They’re in the South of Oman near Yemen. It encourages investors in the food processing, warehousing and industrial sectors.

Sohar Free Zones’ companies are incorporated in Al Mazunah Free Zone that are exempted from custom duties of imports or the minimal capital requirements.

Investors can have a 30-year tax holiday and relaxing Omanisation rates of nearly 20%. Yemeni nationals can work in the Free Zone without the work visa or permit.

Duqm Special Economic Zone

Duqm has an internationally renowned key hub and gateway of South Asia, Middle East, East and North Africa. They have a dry dock, fishing port, industrial estates, fisheries industries, tourism, logistics and mixed-use developments.

Investors get a relaxing Omanisation rate of 25%. Plus, no custom duties, minimum share capital and 30-year income tax exemption. Investors have competitive land lease rates at Duqm Special Economic Zones.

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Knowledge Oasis Muscat Economic Zone

Economic Zones can attract investors to incorporate IT service companies of Oman. These investors have reduced Omanisation rates like 25%, rather than Special and Free Economic Zones of Oman.

Originally posted 2022-02-01 05:30:41.