Sole Proprietorship Company Registration in Oman

Oman is an Arabian country located in the south eastern Arabian Peninsula. It’s been on the priority list of business owners and international investors. For expansion or to start the new business setup at Oman, the location needs flexibility for investors to choose any one of them.

Besides partnership firms, the location allows individuals to initiate with low capital, also called as a sole proprietorship. If you want to invest in Oman for a low capital, then choose a sole proprietorship firm.

Sole Proprietorship Firm

One of corporate structures is the sole proprietorship that gets initiated by the individual serving as the sole owner.

The individual can trade on his account and gets a trade license on his name. Owner bears the rights of liabilities and assets.

Features Of Oman’s Sole Proprietorship

• Single person owned
• No restrictions to close or start
• Owner has the complete control
• Low cost of compliance and formation
• Unlimited liability for the owner
• Losses and profits borne by the owner
• No special legislation

Documents Needed To Set Up The Oman’s Sole Proprietorship

• Public Key Infrastructure enabled with ID card
• Public Key Infrastructure enabled with Resident Card
• Authorized Signatories Form
• Individuals Identity Card

Registration Process Of A Sole Proprietorship In Oman

Minimum Capital

The individual must register their business entity for the minimum capital of 3000 OMR for initiating the sole proprietorship firm.

Liaise with Ministry of Commerce & Industry

The mentioned documents have to be presented at MOCI for initiating the registration process.

Register with Royal Oman Police

It is mandatory for the individual to register the business entity with ROP and get a good standing certificate.

Few government approvals are needed to complete the registration process. Trade licenses are issued by the Ministry of Commerce and Industry. Then the core business practices are commenced to make the partnership firm.

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

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Originally posted 2021-12-02 08:02:49.