A Company Registration in Oman is an intelligent investment plan if you are looking to explore new business opportunities.
Incorporate your business hassle-free with us. Note our mainland Company Registration in Oman Cost and an Oman Free Zone License Cost package inclusion: a) Free Consultation, b) End-to-End Services & c) 24*7 Assistance.
An investor seeking Company Registration in Oman can complete the incorporation process without their physical presence. For this, a company incorporation agent will be appointed in the Sultanate of Oman.
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Advantages of a Company Registration in Oman
A Company Registration in Oman comes with the following benefits:
1. Foreign Direct Investment
Since the year 2000, Oman has had a liberalized international direct investment. Foreign investment is accepted in certain industries.
The government of Oman has liberalized international investment, in contrast to several other Gulf nations. The majority of industries accept 100% foreign investment. For different types of investors, this is advantageous.
To incorporate a corporation here, you are not required to name a nominee shareholder or an Omanite.
2. Free Trade Accords
Oman has signed numerous free trade agreements with various nations with success. The US-Oman accord is one such free trade pact to bring up.
Since a sizable market is available to US citizens, this is quite advantageous for investors from the US. Additionally, there are no trade barriers between Oman and the USA.
3. No Resident Shareholder Is Necessary
The selection of an Omani resident shareholder is not required. The appointment of a foreign stakeholder increases a company’s compliance burden in Oman.
Therefore, an investor would not need to fulfill the aforementioned condition. An investor should proceed with a Company Registration in Oman because of all the benefits mentioned above.
Jurisdictions for an Oman Company Formation
You can choose from the following jurisdictions and pay the Oman Company Registration Fee to start your business in the country:
- Mainland
- Free Zone.
An Oman Company Registration Costs around OMR 3,750* (starting price) for the mainland. An Oman Free Zone Company Setup Cost would also be easy on your pockets.
*The cost may vary depending on your customized requirements. Kindly get in touch with us to confirm the same.
Business Structures That Can Be Used for a Business Setup in Oman
The following business structures can be used for a Business Setup in Oman:
1. LLC: Limited Liability Company
There are two to fifty people working for this type of Company. This type of entity’s liability is constrained to a specific sum.
If the regulatory body’s consent is necessary for this Company in any way, it must be obtained.
2. Joint enterprise
A joint venture business in Oman is not required to have any minimum capital. If it is for a specific duration or project, an applicant seeking business registration in Oman may use the aforementioned structure.
3. Joint Stock Businesses
These businesses are established with the bare minimum of funding. Shares of Joint Stock Companies may be made available to the general public.
4. Holding Company
A Holding Company would exercise some kind of substantial control over its sister companies and its subsidiaries. Over the subsidiary companies, there would be more than 51% control.
5. Branch Office
A branch office is only an overseas parent company’s extension. These businesses are capable of producing money.
6. Representative Office
A representative office is merely an addition to the overseas parent firm, much like a branch office is. The representative office is not allowed to engage in any profitable endeavors.
The representative office is limited to performing tasks that advance the marketing and foreign parent firm.
Note the Necessities for a Business Setup in Oman
A person seeking a Business Setup in Oman must complete the steps below:
1. Appoint the Directors and Choose the Shareholders
For a firm, a minimum number of shareholders must be chosen, and it must have at least one director appointed.
2. Reservation of Name
The MOCI must hold the name in reserve. The name must accurately describe the kind of activities it engages in.
The name must adhere to the MOCI’s guidelines. The name must not mislead the public and shareholders.
3. Decide on the Business Activity
First and foremost, the applicant must decide what tasks the Company will perform. The applicant would need permission from the Ministry of Commerce and Investment to conduct banking and insurance activities.
4. Present the Documents for a Company Formation in Oman
The following are the necessary Oman Company Registration Documents:
- Visas and Shareholder Information
- Tax Registration Document
- Shareholders’ Identity Card
- Initial Certificate of Deposit
- Certificate of Chamber of Commerce and Industry Membership.
5. Obtaining a Business Licence
A business license from the MOCI (Ministry of Commerce and Industry) is required before a company can operate. Different types of licenses are offered by the MOCI for conducting business in Oman.
However, the specific license must be obtained depending on the applicant’s requirements.
6. Acquire Your Incorporation Certificate
After completing the aforementioned stages, the applicant will get a certificate of incorporation.
Click here to read more about business setup in Oman.
Compliances Needed for Setting Up a Business in Oman
The following requirements are mandatory for Setting Up a Business in Oman:
1. Company Taxes
For the purpose of submitting corporate taxes, all businesses must register with the Ministry of Finance.
2. Tax on Small Businesses
If a company’s approved share capital does not exceed OMR 50,000, it is only necessary for SMEs and other types of companies to pay a 3% corporation tax.
3. LLC Conformity
Any modifications to the LLC must be reported to the Ministry of Commerce and Investment.
4. Annual Meeting of the Whole
Every year, an annual general meeting must be convened.
Consult with our experts today at Gryffin Capitalist for more information regarding your Company Registration in Oman.
