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

Originally posted 2021-11-29 04:44:29.