Company Formation Service in Oman
Plaining to setup company in Oman ? You will be having questions in your mind like How do I set up a company in Oman? How much does it cost to establish a company in Oman? Can foreigners register a company in Oman? How do I form an LLC in Oman? What will be the cost for company formation in Muscat Oman ? We have answer to all your questions. Oman known officially as the Sultanate of Oman, is located on the mouth of the Persian Gulf, sharing borders with the UAE, Saudi Arabia and Yemen. Oman is classified as a high-income economy by the World Bank. The country is a member of the United Nations and the Gulf Cooperation Council.
Although Oman has fairly decent oil reserves, a substantial fraction of its economy is driven by tourism, trade and agriculture. Since a dip in oil prices in late 20th century, Oman has been swiftly diversifying its economy and looking to develop other sectors of industry, especially real estate and infrastructure.
To start a company in Oman, one may choose from the following legal entity types:
Doing business in Oman has the following advantages,
BENEFITS OF COMPANY FORMATION IN OMAN
Company Formation Consultants at Blackswan Can Help you in Company Formation Service in Muscat Oman
- At the mouth of the Persian Gulf, Oman occupies a geographically strategic position. Its 1700 km long coastline has made it an important marine country, acting as a gateway to the Arabian Gulf.
- Oman has been diversifying its economy rapidly since 1970, with particular focus on infrastructural development and tourism. Amenities like road transport, educational institutions and hospitals have been springing at a remarkable pace.
- Oil has been the bedrock of Oman’s economy for quite some time as the country is rich in oil deposits. Nevertheless, Oman has been, since the last few decades, increasingly reducing its dependence on oil exports by welcoming foreign investment.
- The Omani government offers incentives like easy-to-obtain loans, tax exemptions and benefits of special economic zones, to encourage the proliferation of local and foreign businesses.
WHY BLACK SWAN BSS ?
Black Swan Business Set Up Services L.L.C helps entrepreneurs and investors establish their company in Oman through incorporation, registration and legal consulting services. Our advisers take care of the entire Banking, Visa, Legal, and Licensing formalities, in accordance with the regional law. We guide you through your company formation, with your business objectives at the centre of our operations.
Company formation in Oman : Our commitment to professionalism, business-oriented experience across various domains, proactive learning in the ever-changing global environment, and the ability to conceive innovative strategies and provide comprehensive support in executing such strategies distinguish Company Formation, and provide you the competitive edge to scale your company. If you are wondering how to start a business in Oman, do reach out to us; we’ll be glad to assist![/tm-heading]
Frequently Asked Questions
- How are the investment incentives offered in Oman?
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Investment incentives consist of providing plots for the charges of nominal lease in particular areas and reduces utility charges and tax exemptions as well.
- List down the prerequisites needed to start an LLC company in Oman?
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You need two shareholders.
- Can a foreign company open a representative and a branch office in Oman?
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Companies that conduct business with agreements or special contracts can open a branch in Oman.
- Do they restrict repatriation?
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Oman has a free economy and will not restrict the debt, remittance abroad of equity, interest, capital, profits, dividends, and personal savings.
- Mention the criteria to get a residential and investors' visa?
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Investor visas are provided for a foreigner who invests their money in Oman as per the certification from the authority concerned.
- The corporate tax rate in Oman?
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The 12% tax rate is applied for companies regardless of their size and nationality and the profit of 30,000 OMR is exempted from tax.
- Is it a must to have a director for a business setup in Oman or a resident shareholder?
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No, not necessary. A director or resident shareholder is not required to open a company in Oman. But many companies need at least one GCC or Omani citizen or corporation that holds 35% of company shares.
- What is the duration to form a company in Oman?
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If all prerequisites and documents are in order, Oman's company formation takes only 8 to 10 days.
- When is the Value Added Tax applicable in Oman?
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VAT or Value Added Tax is introduced in 2019 in Oman.
- Free Zones in Oman?
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- Main regulatory authority for company registration in Oman?
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The main regulatory authority for company registration / formation / incorporation in Oman is the MOCI.
- Foreign investment law in Oman?
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Foreign Capital and Investment Law (Royal Decree No 50/2019) is the law that regulates foreign investment in Oman
- Business Structures for Company Registration in Oman
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- General Partnership
- Limited Partnership
- Limited Liability Company (LLC)
- Joint Venture
- Joint Stock Companies
- Holding Company
- Branch Office
- Representative Office
- Procedure for Company Registration in Oman
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- Choosing the activities carried out in the business
- Registering the Company
- Submit Documents
- Reserve Name
- Certificate of Incorporation
