Oman

Omani

Official Name:   Oman

               Muscat

        Arabic

          Omani Rial

Omani globe

 

OUR SERVICES;                      

  • Consultation (in person, online, phone)
  • Helping to prepare your documents
  • Start to finish your company registration process
  • Immigration services

Oman

Oman, officially the Sultanate of Oman and the capital of Muscat, is a country located in the east of the Arabian Peninsula. The country has a blue border with the Oman Sea to the north and the Arabian Sea to the east. It also has a land border with Saudi Arabia and the United Arab Emirates to the west and Yemen to the south. Oman also has a water border with Iran. In terms of religion, the vast majority of the people of this country are Muslims and their currency is the Omani rial.

Oman, like other Arab countries in the Persian Gulf, is its main source of income from oil, but it also has a source of income from agriculture and fishing. Oman’s exports mostly include oil, metals, fish, and textiles, and its imports, mostly include machinery and equipment, industrial oils, foodstuffs, and so on.

Oman has 9 provinces, the interior of Oman has a hot and dry climate and the climate on its shores is sultry. Oman is one of the suitable areas for rock climbing.

It should be noted that among the GCC countries, Oman has one of the most stable economies and also this country due to low inflation and excess budget, as well as new policies to attract domestic and foreign investment in the non-oil sector. Has adopted a suitable country for investment and residency.

 

GENERAL QUESTION

Is it possible to obtain a residence permit in Oman by registering a company?

By registering a company in Oman, you can receive a temporary residence in this country; But it is not possible to obtain permanent residence and citizenship in Oman.

 

Do I need a language certificate to register a company in Oman?

No; Registration of a company in Oman will not require a language certificate.

 

How much capital is needed to register a company in Oman?

Determining the exact amount required to register a company depends on the type of company and its activity; But on average, a capital of about 50,000 Rials Oman to 150,000 Rials Oman is needed.

Can multiple shareholders be used to register a company in Oman?

In some types of companies, such as limited liability companies and special joint-stock companies, 2 or 3 shareholders can be benefited.

 

Types of companies in Oman

Ltd (LLC)

A company in which the liability of each shareholder is limited to one share of the total capital of the company. An LLC in Oman must have at least 2 shareholders (one of whom must be a citizen of Oman or a member of the Gulf Cooperation Council (GCC) or a citizen of the United States of America and must have more than 30% of the company shares in his name. 1 Executive Director) The minimum capital required to set up an LLC in Oman or 150,000 Omani Rials (approximately $ 390,000). It is worth mentioning that the limited liability company in Oman is the most common type of company that foreign investors register to start a business in Oman.

 

Company LLP

Is a company whose capital is distributed as shares. The shares of a public joint-stock company in Oman can be bought and sold and exchanged through the stock exchange. The minimum capital required to set up this type of company in Oman is 150,000 Omani Rials (about $ 390,000). It should be noted that a joint-stock company cannot be registered without the approval of the Ministry of Trade and Industry of Oman and the issuance of a license as proof.

 

Private joint-stock company

It is a company whose shares are not available for public trading and is a private joint-stock company. To register a private joint-stock company in Oman, at least 3 shareholders are required. (One of them must be an Omani citizen who owns at least 30% of the total shares) and the minimum capital required to set it up is 50,000 Omani Rials (about 130,000 US dollars).

 

Limited participation

A limited partnership in Oman can be created by 2 or more members. You will need at least 1 public partner and 1 limited partner to register. The public partner must be a citizen of Oman and is liable for the debts and obligations of the partner without limitation of liability. The limited partner has limited liability and the liability of the debts and liabilities of the company is only to the extent of its share of capital in the company.

 

Trading Agency

A commercial or trading agency in Oman is a company that has a mission to promote or distribute the products or services of a foreign entity in the Kingdom of Oman. The main task of such a company is to export goods and services to Oman by a major foreign trader. In a commercial agency in Oman, the role of a business representative can only be assigned to an Omani national registered with the Oman Chamber of Commerce or a local entity with at least 51% local shares.

 

Branch office

An Oman branch can be set up by a foreign company seeking to open an institution in the country. To establish a branch, a local agent is needed to support Oman visas and permits. The branch is also required to obtain approval from the Oman Ministry of Commerce and Industry (MOCI). Because a branch is not a separate legal entity from its parent company, it is responsible for its activities and obligations.

 

Representative office

The representation can only be started for market research or advertising purposes. Doing business or doing business in Oman is not allowed under the Oman representative office. The representative office in Oman must have at least one appointee residing in Oman.

 

THE BENEFITS OF COMPANY REGISTRATION

  • Encourage the Omani government to focus on diversification, industrialization, and privatization
  • Oman’s strategic and geographical location
  • Extensive economic and social reforms
  • Existence of tourism development infrastructure
  • The formation and growth of Oman’s economy in order to be independent of oil
  • Granting banking and tax facilities and exemptions
  • Ability to attract cheap labor for business development
  • High economic stability
  • The high monetary value of Oman
  • Possibility of free trade
  • Enjoy low employee income tax
  • Having the facilities of special economic zones

COMPANY REGISTRATION PROCESS 

Book a name for the company

For this purpose, you must submit and submit your application form to the Oman Office of Industry and Commerce (MCI) to select and register a unique name (in accordance with the norms and rules of naming companies in Oman).

 

Send company documents

After reserving and confirming the name of the company, you must prepare the documents of the shareholders and the articles of association of the company along with the signature license form and bank certificate and send them all to the Department of Industry and Trade (MCI) or so-called Submit.

 

Company Registration in Oman Chamber of Commerce and Industry (OCCI)

After registering a company in MCI, you must also register a company in OCCI in order to comply with the business rules and regulations required to register a company in Oman.

 

Obtaining the necessary approvals and approvals from the government departments of Oman

Depending on the nature, size, and size of your business activities, you may need to obtain approvals from Oman offices. This can include registering and doing the following:

  • Registrating with the tax office
  • Registration with the Royal Police of Oman
  • Register with the Ministry of Labor or Energy to attract labor or hire foreigners and have the relevant licenses to issue a visa or be a sponsor
  • Obtaining a local municipal license
  • Obtaining export/import license (if required)
  • Obtaining environmental, industrial, and other permits

Company seal design

Design a stamp or badge for contracts and sales or other required transactions.

Documents required to register a company in Oman are:

  • Company registration form
  • Copy equal to the original identity card or passport of the authorized shareholders and signatories of the company
  • An authorized signatory approval formو including the signatures and names of the authorized signatories of the company
  • Statute
  • Affiliate license with Oman Chamber of Commerce and Industry
  • Certificate of the initial deposit of the company’s capital in a valid bank
  • Business plan (business plan)

Company registration in Oman Free Zones

Registration of a company in the free zones can include 100% foreign ownership and there is no need for the Omani side. The important point about registering a company in the free zones is to present a strong proposal to the decision-making board of those zones, which will be registered if they are approved.

 

The special feature of company registration in Oman free zones

A noteworthy point in Oman’s international trade is that the country imports the largest volume of its imports per year, most of which include machinery and equipment for transportation, food, and livestock per year from the United States, Germany, and Japan. , Which shows the negligence of capitalists and producers of other countries from this important and thriving market.

Both types of company registration in Oman will be licensed for 5 years.