Company Registration In Oman

100% Ownership in LLC company

The Sultanate of Oman or Oman is located with growing business centres. The growing GCC nations have established homes to foreign expats with many business opportunities.

The government of Oman proceeds with their nation’s development and initiates steps to comfort foreign expats and grab foreign investors. If you have thoughts on diversifying business at the International level, Oman is your best location to count on.

Here comes the overview of why to choose Oman as your investment location. You can incorporate different business structures to start a company in Oman.

Oman is said to be an official Sultanate of Oman. It is located within the Arabian Peninsula. According to geographic aspects, the country shares borders with Saudi Arabia, UAE, and Yemen.

Economic diversification and progress are factors which shows the country is developing faster.

The investor who’ll be going for an Oman’s company registration can carry out the incorporation process without being physically present. These processes are carried out within the limited time duration.

A company appoints an agent to incorporate in Oman. Several sectors have allowed foreign direct investment. Government liberalises more foreign investments in Oman.

In many sectors, complete foreign investments are allowed. It is beneficial for various forms of investors. It has no requirements to appoint a resident of Oman or a nominee shareholder to incorporate a company.

Based on cultural differences, you must appoint a local nominee shareholder. You don’t have the minimum share capital requirement for a company formation in Oman.

Different kinds of business structures are utilized by an investor. The LLC in Oman can include one director and one shareholder. So there is a flexibility to carry out the business through a foreign shareholder. Foreign investors in Oman can benefit from different forms of subsidies and interest free loans. Plus, there are tax exemptions in foreign companies.

Oman enters into different free trade agreements with various countries. The USA comes under one such free trade agreement. It is highly beneficial for US investors, because of the vast market availability. Plus, there is no form of tariff on the trade between Oman and the USA.

Protocol for Oman’s Company incorporation

Foreign investors in Oman can incorporate a Limited Liability Company. The following protocol must be adhered by the applicant for Oman’s company registration.

• Articles Of Association
• Memorandum Of Association
• Tax Registration Certificate
• Shareholders Visas and Information
• ID of Shareholders
• Initial Deposit Certificate
• Chamber Of Commerce & Industry Affiliation Certificate
• Filed Company Registration Form

Oman has the phenomenal transformation of Oman’s economic and social structure. It has vast revenues on oil production that fuels the economy.

Diversification has been the government priority on tourism for bringing more revenues. Besides these, Oman has various free zones to increase the country’s international business and diversify the economy apart from their oil industry.

Free trade zones are located in Sohar, Al Mazunah, Salalah and Duqm SEZ. Industries operate in free trade zones that have import and export, manufacturing, assembling and manufacturing and warehousing and storage.

Oman’s location is well-suited for business structures like:

• Setup Sole Proprietorship Company in Oman

The one-person company or sole proprietorship opens with a sole director and no minimum of paid-up requirements of share capital. A one-person company becomes the commonly used entity to foreigners to do Oman’s business through a simple corporate structure.

• Setup Joint Stock Company in Oman

The joint-stock company is formed with a minimum of three shareholders. JSCs trade their share in public called as Public JSC, who don’t share in public called as Private JSCs. Companies opened by businesses have the raising capital and a large investment of funds.

• Setup Limited Liability Company in Oman

LLC can have – USA or GCC shareholders for an Omani. The Omani LLC is used as an entity for foreigners to do business in Oman.

• Setup Joint Venture Company in Oman

The joint venture or an internal agreement with two or more parties, where one party does business in their name and profits or losses can be shared. The Joint Venture can’t be a legal entity and don’t require a registration form or have protection from local authorities.

• Setup Holding Company Company in Oman

The holding company has the entity owning 51% of shares in joint-stock or limited liability companies. You can register the holding companies for projects to make large investments of funds or to raise their capital.

It’s a good opportunity to do business in Oman for foreign expats. As its ground has the following benefits:

• Strategic business location
• Fast developing economy
• Natural resources availability
• No personal tax
• Government supports new businesses
• Emerging business in non-oil sector

Like other GCC countries, the company registration process in Oman needs the involvement of some steps that have to be cleared. Let’s look at basic requirements to move for the concrete process.

Oman’s company registration is a process where business entities can be given a physical platform. There are some steps to follow before starting the process. Below are the mentioned steps for the incorporation process to open a company in Oman.

Trade Name

A trade name can be unique and it must relate to the business. Fix a name and submit it to the application of the Ministry of Commerce and Industry.

Incorporation Document Submission

The initial stage is where needed documents are submitted to start the incorporation process. Essential documents are:

• Tax Registration Certificate
• Memorandum and Articles of Association
• Shareholders’ Visas and Passports
• Identity Card of Shareholders
• Filed Company Registration Form
• Certificate of Initial Deposit
• Chamber of Commerce and Industry Affiliation Certificate

Opening Of Capital Account

If the documents are submitted, capital accounts have to be opened for depositing the initial incorporation fee.

Registration With The Chamber Of Commerce

Registration for Oman Chamber of Commerce and Industry (OCCI) for incorporating commercial regulations and rules in Oman.

Company Registration Essentials

It involves the submissions of essentials like:

• Municipality Approval
• Legalised Opening Forms
• Share Capital Certificate
• Post-Incorporation Process in Oman

Visa Application

Apply for visa services for employees after the incorporation process. Talk with visa consultants to get visa services much faster.

Registration Of Employee

Employees should be acknowledged as the business entity and registering the employee with their company name is crucial.

Bank Account Conversion

The business capital account can be converted into a current account to ease successful business transactions.