Process of Setting up of LLC Company in Oman

In Oman, an Omani LLC is the most frequently used business entity for foreigners who wish to do business in Oman for trading and manufacturing various business activities. To start a business in Oman, you should go through the setup process by the Omani authorities. The Oman company registration process are stated as follows:

The Reservation of Name

The Ministry of Commerce and Industry (MCI) must first approve the name of your company. Under the Omani law, a new company should not have the same name as the existing company. The MCI do require a higher starting share capital for the companies with certain words, such as “Oman”, in their name.

MCI Application

MCI application involves preparing and submitting the following documents as stated below:

The Foreign Shareholder Documents

Each shareholder having a corporate entity must substantially provide their constitutional documents, board resolution, certificate of incorporation, and power of attorney

Omani Shareholder Documents

Every shareholder must provide certificate of registration for the company, an MCI computer printout, authorized signatory form, Oman Chamber of Commerce and Industry (OCCI) certificate and shareholders’ resolution.

A constitutive contract along with an authorized signatory form, frames a part of the constitutional documents of an LLC.

Bank Certificate

The bank certificate is obtained from a bank in Oman and it uses as evidence of compliance with the LLC’s capital requirements

The OCCI Registration

The essential step of the registration process is mainly obtained immediately after the MCI completes the registration examination of your registered company and thereby approve the certificate.

Other types of Approvals

Approvals depending on the LLC’s intends on business activities, and further governmental approvals may be required accordingly.

Post-Registration

Once the LLC registration gets approved and you get all the necessary Certificates from the Ministry, you need to organize and obtain the below documents as follows :

• A municipality license for the registration.
• Tax registration of the company.
• Registration with the Ministry of Manpower for applying for visas and labour clearances.
• The Registration of business with the Royal Oman Police.
• Import or export license that depends on the nature of the business
• Industrial, Environmental, other essential permits and licenses, depending on the nature of the business are required.

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Originally posted 2021-09-29 04:46:52.