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
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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
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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
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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.
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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.
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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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