Oman

Official Name: Oman

Capital: Muscat

Languages: Arabic

Currency: Omani Rial

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Geography:Oman, located on the southeastern coast of the Arabian Peninsula, is a country of diverse landscapes. The country boasts stunning coastlines along the Arabian Sea and the Gulf of Oman, with pristine beaches and coral reefs. Inland, the rugged Al Hajar Mountains rise majestically, providing a striking contrast to the vast desert expanses. Oman’s geographical diversity is a treasure trove for adventure seekers and nature enthusiasts.

History:Oman has a storied history that dates back thousands of years. It was a major center of trade and maritime activity, with Omani sailors navigating vast distances in traditional sailing vessels called dhows. The country’s strategic location led to the rise of ancient civilizations, including the Sumerians, Persians, and the Parthians.

The Omani Empire reached its zenith in the 19th century when its influence stretched across East Africa, including Zanzibar and parts of present-day Kenya. In the late 20th century, Sultan Qaboos bin Said Al Said embarked on a modernization campaign, transforming Oman into a progressive and peaceful nation.

Culture:Oman’s culture is deeply rooted in its Islamic heritage, and the Omani people take great pride in their traditions and values. Hospitality is a hallmark of Omani culture, with guests often receiving a warm and generous welcome. The country’s traditional music, dance, and cuisine reflect the rich tapestry of its history and the influence of its maritime heritage.

Oman also cherishes its ancient crafts and practices, such as shipbuilding, pottery, and silver jewelry making, which are preserved and celebrated as part of the national identity.

Economic:Oman’s economy has historically relied on trade, fishing, and agriculture. In recent decades, the country has diversified its economy, reducing its dependence on oil and gas. The government has invested in infrastructure, education, and healthcare to support economic diversification.

Tourism is a growing sector in Oman, drawing visitors with its natural beauty, historical sites, and cultural attractions. Additionally, Oman is strategically positioned as a logistics and transportation hub, connecting Asia, Africa, and Europe.

Politics:Oman’s political system is an absolute monarchy, with the Sultan serving as the head of state and government. Sultan Qaboos bin Said Al Said ruled Oman from 1970 until his passing in 2020, earning admiration for his progressive policies, diplomacy, and efforts towards modernization.

After Sultan Qaboos’s passing, Sultan Haitham bin Tariq Al Said assumed the throne, continuing the country’s trajectory of development and political stability. Oman’s government emphasizes consultation and public participation, with citizens having the opportunity to express r views through the Consultative Council.

Challenges and Prospetheicts:Oman faces various challenges, including the need to diversify its economy further and address youth unemployment. The country is taking steps to enhance vocational training and promote private sector growth to create more job opportunities.

Oman is also mindful of maintaining its cultural heritage and environmental sustainability while embracing modernization. Balancing tradition and progress is a delicate task, and Oman’s leadership aims to preserve the nation’s unique identity while embracing innovation and development.

The country’s strategic location and diplomatic efforts position Oman as a mediator in regional conflicts and an advocate for peaceful resolutions. Oman’s neutral stance has earned it respect and credibility on the global stage.

In conclusion, Oman is a captivating destination that embraces its rich history, cultural heritage, and natural splendor while progressing towards a brighter future. The country’s commitment to inclusive development, diplomacy, and sustainability demonstrates its aspirations to be a model of harmony and progress in the Arabian Peninsula and beyond.

Types of company registration

Limited Liability Company (LLC):An LLC is one of the most common types of company structures in Oman.

Requires a minimum of two shareholders and can have up to 40 shareholders.

The liability of shareholders is limited to their share capital.

At least 30% of the share capital must be held by Omani nationals or wholly owned Omani companies.

Management and operations are overseen by a manager or a board of managers.

Suitable for small to medium-sized businesses.

Joint Stock Company (SAOC):A joint stock company is suitable for larger businesses with multiple shareholders.

The company’s capital is divided into shares, and shareholders’ liability is limited to their share capital.

Requires a minimum of three shareholders and no maximum limit.

Shares can be transferred more easily than in an LLC.

Suitable for larger enterprises with more complex structures.

Simple Commandite Company (SCC):A type of partnership where there are two types of partners: active partners (Omani nationals) and sleeping partners (limited liability partners).

Active partners manage the business, while sleeping partners provide capital.

Sleeping partners have limited liability, while active partners have unlimited liability.

Closed Joint Stock Company (SAO Closed):Similar to a regular joint stock company (SAOC), but the shares of a SAO Closed cannot be publicly traded.

Suitable for businesses that want the structure of a joint stock company but without public share trading.

Branch of a Foreign Company:Allows a foreign company to establish a branch or representative office in Oman to conduct specific activities.

The foreign company remains liable for the obligations of the Omani branch.

Representative Office:Allows a foreign company to establish a presence in Oman for non-commercial activities such as market research, promotion, and liaison.

Single Person Company (SPC):Introduced to encourage small and micro-businesses.

Allows a single natural or juridical person to establish a limited liability company with limited share capital.

Advantages of company registration in Oman

Access to the Gulf Market: Oman’s strategic location on the southeastern tip of the Arabian Peninsula provides businesses with proximity and access to the larger Gulf Cooperation Council (GCC) market, which includes countries like the United Arab Emirates, Saudi Arabia, Qatar, Bahrain, and Kuwait. This can be advantageous for companies seeking to tap into the broader regional market.

Political Stability: Oman has a stable political environment with a history of peaceful transitions of power. This stability can provide a secure and reliable foundation for businesses to operate within the country.

Business-Friendly Regulations: Oman has taken steps to improve its business environment, including simplifying registration processes and reducing bureaucracy. The government has also made efforts to enhance foreign investment and ease of doing business.

Tax Benefits: Oman has a favorable tax regime, with no personal income tax and low corporate tax rates. The corporate tax rate is generally 15%, but it may be lower or have exemptions in certain cases.

Free Zones: Oman has established free trade zones and industrial estates that offer various incentives to businesses, such as exemptions from customs duties, full foreign ownership, and streamlined administrative processes. Some notable free zones include the Salalah Free Zone, Sohar Port and Freezone, and Al Mazyunah Free Zone.

Skilled Workforce: Oman has invested in education and workforce development, resulting in a growing pool of skilled labor, which can be beneficial for businesses requiring skilled or specialized employees.

Infrastructure Development: Oman has made significant investments in infrastructure, including transportation, logistics, and telecommunications, to support economic growth and connectivity. This infrastructure development can facilitate business operations and trade.

Access to Natural Resources: Oman is rich in natural resources, including oil, natural gas, and minerals. Companies operating in industries related to these resources can benefit from access to local reserves and potential partnerships with Omani entities.

Tourism Opportunities: Oman’s growing tourism industry provides opportunities for businesses related to hospitality, travel, and related services. The country’s natural beauty and historical sites make it an attractive destination for tourists.

Cultural and Historical Heritage: Oman’s rich cultural and historical heritage can be leveraged by businesses involved in cultural tourism, handicrafts, and heritage-related products and services.

Investment Incentives: The government of Oman has introduced various investment incentives and initiatives to attract foreign investment. These incentives may include tax breaks, grants, and other support for specific industries or projects.

Common Questions

What are the steps involved in setting up a company in Oman?

The steps include obtaining initial approvals, drafting articles of association, notarizing documents, opening a bank account, obtaining a trade license, and registering with relevant authorities.

Can a foreign company wholly own a business in Oman?

Depending on the sector, foreign ownership may be limited. In some cases, Omani ownership or participation is required.

What are the benefits of setting up a business in an Omani free zone?

Benefits include 100% foreign ownership, tax incentives, and simplified customs procedures.

What documents are required for initial approvals?

Documents usually include a business plan, proposed company name, shareholders’ details, and passport copies.

Is an office space required before obtaining a trade license?

Yes, a registered office address is typically required before obtaining a trade license.

Can a foreign investor be the sole shareholder of an Omani company?

In certain cases, yes. However, some sectors may require Omani ownership participation.

How long is the trade license valid in Oman?

Trade licenses are typically valid for one year and need to be renewed annually.

Can a foreign employee work for an Omani company?

Yes, foreign employees can work for Omani companies once appropriate work permits are obtained.

Is it possible to change the business activity after registration?

Yes, but changes to the business activity may require approvals from relevant authorities.

How can foreign capital be repatriated from Oman?

Repatriation of funds usually requires documentation and approval from the Central Bank of Oman.

What is the role of the Public Authority for Investment Promotion and Export Development (Ithraa) in company registration?

Ithraa assists in promoting foreign investments and facilitates the process of obtaining approvals.

Are there any specific requirements for hiring Omani employees?

Employers are generally required to prioritize hiring Omani nationals for certain positions.

How is intellectual property protected in Oman?

Intellectual property rights can be protected through registration and legal measures.

Can a foreign company conduct business outside of Oman through an Omani branch?

An Omani branch can engage in activities within Oman, but separate approvals may be needed for international business.

What are the main sectors open to foreign investment in Oman?

Sectors like tourism, logistics, manufacturing, and technology have been promoted for foreign investment.

Is it possible to register a company with multiple business activities?

Yes, a company can engage in multiple activities, subject to approval for each activity.

How is the social security system managed in Oman?

Employers contribute to the Public Authority for Social Insurance (PASI) for employees’ social security.

What are the requirements for importing and exporting goods in Oman?

Import/export requirements include customs documentation and compliance with regulations.

Can a foreign company open a bank account in Oman?

Yes, foreign companies can open bank accounts, often required for capital deposit.

What is the significance of the Ministry of Commerce, Industry, and Investment Promotion in the registration process?

The Ministry oversees company registration and issuance of trade licenses.

Are there any incentives for setting up manufacturing businesses in Oman?

Yes, incentives such as reduced customs duties and tax exemptions may apply.

Can a foreign investor hold real estate property in Oman for business purposes?

Foreign investors can own real estate in specific areas or under certain conditions for business purposes.

Are there specific requirements for environmental permits in Oman?

Depending on the nature of the business, environmental permits may be required.

How is the minimum wage determined for Omani employees?

The minimum wage is set by the government and may vary based on factors such as location and sector.

Can an Omani company sponsor foreign employees for work permits?

Yes, Omani companies can sponsor foreign employees for appropriate work permits.

What are the penalties for non-compliance with company registration regulations?

Penalties may include fines, suspension of activities, or even company dissolution.

Can a company change its legal structure after registration?

Changing the legal structure may require legal procedures and regulatory approvals.

What role does the Oman Chamber of Commerce and Industry play in company registration?

The Chamber promotes commercial activities and provides business support.

Are there any specific regulations for the healthcare sector in Oman?

Yes, healthcare businesses may require additional licenses and approvals.

How is the process for obtaining an investor visa in Oman?

Investor visas require fulfilling certain investment and business criteria.

Can a company lease or own real estate property for its business operations?

Yes, companies can lease or own property, subject to legal requirements.

How is the process for transferring ownership of a company in Oman?

Ownership transfer involves legal procedures, approvals, and documentation.

Can a company operate under a different trade name than its legal name?

Generally, a company should operate under its registered trade name.

Are there specific regulations for setting up an e-commerce business in Oman?

E-commerce businesses may require additional licenses and compliance with digital regulations.

What is the role of the Oman Development Bank in supporting businesses?

The bank provides financial support and resources to promote business development.

Are there any specific regulations for setting up a restaurant or food business in Oman?

Yes, food businesses require compliance with health and safety regulations.

How is value-added tax (VAT) applied to businesses in Oman?

As of my last update, Oman had not implemented VAT, but tax policies may change.

Can a foreign investor transfer profits and dividends out of Oman?

Yes, profits can be repatriated with proper documentation and approvals.

What are the requirements for setting up a trading business in Oman?

Trading businesses require appropriate licenses, permits, and compliance with customs regulations.

Can a company apply for government tenders and contracts in Oman?

Yes, companies can bid for government tenders by fulfilling eligibility and submission requirements.

Are there any regulations for employing expatriates in Omani companies?

Expatriate employment requires obtaining work permits and adhering to immigration laws.

How is the process for liquidating or closing down a company in Oman?

Company liquidation involves legal procedures, clearance of liabilities, and notifying authorities.

Can a company engage in online business activities without a physical presence in Oman?

E-commerce businesses may operate online, but specific legal requirements apply.

What are the regulations for setting up a technology startup in Oman?

Technology startups may receive support and incentives through innovation-focused programs.

Can an Omani company have multiple branches within the country?

Yes, companies can have branches in different locations, subject to approvals.

Are there specific regulations for foreign consultancy or service businesses in Oman?

Consultancy or service businesses may need appropriate licenses and approvals.

What are the requirements for setting up a financial services company in Oman?

Financial services businesses require special licenses and compliance with financial regulations.

Can an Omani company enter into joint ventures with foreign entities?

Yes, joint ventures with foreign entities are possible and subject to legal agreements.

What is the role of the Capital Market Authority (CMA) in business activities?

CMA regulates and supervises the capital market and securities-related activities.

Are there any incentives for companies engaged in research and development (R&D)?

Incentives may be available for R&D-focused companies, subject to criteria.

Can an Omani company raise capital through public offerings on the Muscat Securities Market (MSM)?

Yes, companies can offer shares to the public through the MSM, subject to regulatory approvals.

What is the process for registering a trademark or copyright in Oman?

Trademarks and copyrights can be registered through the Ministry of Commerce and Industry.

Can a company engage in import and distribution of goods in Oman?

Import and distribution require appropriate licenses and compliance with customs rules.

Are there specific regulations for setting up an education or training institution in Oman?

Yes, education and training institutions need approvals from relevant authorities.

How is company data privacy and protection regulated in Oman?

Data privacy and protection regulations may apply, especially for technology and online businesses.

Can a company lease or rent vehicles for its business operations?

Yes, companies can lease or rent vehicles, subject to relevant licenses.

Are there specific regulations for setting up a construction or engineering company in Oman?

Construction and engineering companies require compliance with industry regulations and licensing.

How is dispute resolution and arbitration managed for companies in Oman?

Companies may resolve disputes through the Omani legal system or arbitration.

Can a company engage in foreign investments or acquisitions from Oman?

Yes, companies can engage in foreign investments or acquisitions, subject to approvals.

What is the role of the Ministry of Manpower in labor-related matters for companies?

The Ministry oversees labor-related regulations, work permits, and employment conditions.

Documents required to register a company

Memorandum of Association (MOA) and Articles of Association (AOA): These are fundamental documents that outline the company’s name, objectives, capital, and organizational structure. The MOA and AOA should be drafted in compliance with Omani law and signed by all shareholders.

Company Name Reservation: You’ll need to choose a unique company name and apply for its reservation with the Ministry of Commerce, Industry, and Investment Promotion. The name reservation process typically involves submitting a name reservation application.

Shareholders’ Identification and Passport Copies: Provide copies of the identification documents (such as passports) of all shareholders and directors involved in the company. Omani nationals may also be required to provide additional documents, such as a family book or ID card.

Foreign Investors’ Approvals: If your company includes foreign shareholders or investors, you may need to obtain approval from the Foreign Capital Investment Committee, which falls under the Ministry of Commerce, Industry, and Investment Promotion.

Capital Deposit Certificate: You will need to provide evidence of the deposit of the company’s share capital in a bank account in Oman. This is usually in the form of a bank certificate or statement.

Lease Agreement: If you plan to operate from a specific location, you’ll need to provide a lease agreement for the premises where your business will be headquartered.

Board of Directors’ Resolution: A resolution from the board of directors authorizing the establishment of the company, the selection of its directors, and any other relevant decisions should be included.

Government Approvals and Licenses: Depending on your business activities and industry, you may need specific approvals or licenses from relevant government authorities. These can include sector-specific permits, health and safety approvals, and environmental licenses.

Notarization and Authentication: Some documents may need to be notarized and authenticated. This involves getting official stamps and endorsements to validate the documents.

Local Sponsor Agreement (for LLCs): In the case of a Limited Liability Company (LLC) in Oman, if foreign shareholders are involved, a local sponsor is typically required. You will need an agreement with the local sponsor, outlining their role and compensation.

Additional Documentation: Depending on the nature of your business, you may be required to submit specific documents, such as business plans, feasibility studies, or technical reports, as required by the relevant authorities.

Major Banks in Oman

Bank Muscat:
- Website: Bank Muscat
National Bank of Oman (NBO):
- Website: National Bank of Oman
HSBC Bank Oman:
- Website: HSBC Bank Oman
Bank Dhofar:
- Website: Bank Dhofar
Ahli Bank:
- Website: Ahli Bank
Oman Arab Bank (OAB):
- Website: Oman Arab Bank
Ahli United Bank:
- Website: Ahli United Bank
Bank Sohar:
- Website: Bank Sohar
Alizz Islamic Bank:
- Website: Alizz Islamic Bank
Majan International Bank:
- Website: Majan International Bank

The top universities in Oman

Sultan Qaboos University (SQU)

Location: Al Khoudh, Muscat

Website: https://www.squ.edu.om/

Major Courses: Medicine, Engineering, Business Administration, Computer Science, Education

University of Nizwa

Location: Nizwa

Website: https://www.unizwa.edu.om/

Major Courses: Engineering, Computer Science, Business, Law, Education

Sohar University

Location: Sohar

Website: https://www.soharuni.edu.om/

Major Courses: Business Administration, Engineering, Computer Science, Applied Health Sciences

Majan University College

Location: Muscat

Website: https://www.majancollege.edu.om/

Major Courses: Business, Computer Science, Information Technology, English Language and Literature

Gulf College

Location: Muscat

Website: https://www.gulfcollege.edu.om/

Major Courses: Business Administration, Information Technology, Engineering

Caledonian College of Engineering

Location: Muscat

Website: https://www.cce.edu.om/

Major Courses: Engineering (Civil, Mechanical, Electrical, etc.)

Middle East College

Location: Muscat

Website: https://www.mec.edu.om/

Major Courses: Engineering, Business, Computer Science, English Language Studies

German University of Technology in Oman (GUtech)

Location: Muscat

Website: https://www.gutech.edu.om/

Major Courses: Engineering, Applied Geosciences, Urban Planning

Oman Tourism College

Location: Muscat

Website: https://www.otc.edu.om/

Major Courses: Tourism Management, Event Management, Hospitality

Modern College of Business and Science

Location: Muscat

Website: https://www.mcbs.edu.om/

Major Courses: Business Administration, Computer Science, Information Systems

Strange or unusual to visitors in

Traditional Dress: Omani men often wear the dishdasha, a long white robe, and a kuma (embroidered cap), while women wear abayas and headscarves. This traditional attire might stand out for visitors from more Westernized cultures.

Frankincense Burning: The use of frankincense is deeply ingrained in Omani culture, and visitors might encounter the distinct and pleasant smell of frankincense being burned in various places, including homes, markets, and mosques.

Friday Market Closures: Many businesses and markets close on Friday mornings due to the Friday prayers. This practice might be unusual for visitors accustomed to continuous shopping hours.

Public Prayer Calls: The call to prayer (adhan) is broadcast over loudspeakers from mosques multiple times a day. This auditory reminder of prayer times might be unexpected for visitors.

Muttrah Souq Customs: At traditional markets like Muttrah Souq in Muscat, bargaining is common. Visitors might find the haggling process unique if they are not accustomed to it.

Diverse Landscapes: Oman boasts a diverse range of landscapes, from deserts to mountains to coastal areas. The stark contrasts in scenery within relatively short distances might be surprising to visitors.

Desert Hospitality: Visitors might be invited into the homes of locals for tea or dates, exemplifying the traditional Omani hospitality, even in the midst of the desert.

Friday Family Picnics: Many Omani families gather at parks or scenic spots on Fridays for picnics, a leisurely practice that might seem unusual in some cultures.

Date Fruits: Dates are a staple of Omani cuisine and are often offered to guests as a gesture of hospitality. The wide variety of dates available might be surprising to visitors.

Wadi Swimming: Wadis (dry riverbeds) are popular spots for swimming and picnicking. The sight of lush oases amidst arid surroundings might be unexpected.

Camel Racing: Camel racing is a traditional sport in Oman, and visitors might find it intriguing to watch these majestic animals race across the desert tracks.

Traditional Fishing Methods: In coastal towns, visitors might witness traditional fishing practices such as using dhows (traditional boats) and nets, which can offer a glimpse into the local way of life.

Laws and Regulations: Oman has strict laws and regulations related to public behavior, dress codes, and respect for local customs. Visitors may need to adjust their behavior to adhere to these cultural norms.

“Tips for Newcomers: Adjusting to Life in Oman”

Embrace the Culture: Take the time to learn about Omani culture, traditions, and customs. This will help you understand and connect with the local community.

Learn Basic Arabic Phrases: While many people in Oman speak English, learning some basic Arabic phrases can enhance your interactions and show your respect for the local language.

Respect Local Customs: Oman is a conservative society with strong Islamic traditions. Dress modestly, especially in public places and religious sites, and be mindful of local norms.

Connect with Locals: Engage with Omani locals and expatriates alike. Join social groups, attend community events, and make an effort to build relationships.

Understand the Work Week: The Omani workweek usually starts on Sunday and ends on Thursday. Be aware of this schedule for work and business interactions.

Experience the Cuisine: Sample traditional Omani dishes and flavors. Enjoy local specialties like shuwa (slow-cooked lamb) and dates, and explore the diverse culinary scene.

Explore the Landscape: Oman offers breathtaking landscapes, from deserts to mountains to coastal areas. Take the opportunity to explore and appreciate its natural beauty.

Adapt to the Climate: The climate can be hot and arid, especially during the summer. Stay hydrated, wear appropriate clothing, and plan outdoor activities accordingly.

Respect Prayer Times: The call to prayer (adhan) occurs multiple times a day. Be respectful during these times and avoid loud activities near mosques.

Travel Safely: If you plan to explore the country, be sure to follow travel advisories, inform someone of your plans, and take necessary precautions.

Healthcare: Familiarize yourself with healthcare facilities and services available in your area. Have proper medical insurance and emergency contacts.

Driving and Traffic Rules: If you plan to drive, understand Omani traffic rules and road conditions. Make sure you have the necessary documents for driving.

Cultural Sensitivity: Be sensitive to cultural differences, especially regarding topics like religion, politics, and social norms.

Stay Informed: Keep up with local news and updates to stay aware of any developments that might affect your daily life.

Maintain Flexibility: Adjusting to a new culture takes time. Be patient with yourself and embrace the opportunity to learn and grow.

Build a Support Network: Connect with other expats, join online forums, and seek support from your embassy or consulate if needed.

Understand Banking and Finance: Familiarize yourself with local banking practices, currency, and ATMs to manage your finances smoothly.

Cultural Etiquette: Learn about Omani social etiquette, including greetings, gift-giving, and dining customs.

Preserve the Environment: Oman places a strong emphasis on environmental conservation. Respect nature and follow eco-friendly practices.

Have an Open Mind: Approach your new life in Oman with curiosity and an open mind. Embrace the differences, enjoy the journey, and create meaningful memories.

Top recruitment agencies in Oman

Bahwan CyberTek (BCT)

Website: https://www.bahwancybertek.com/

ManpowerGroup Oman

Website: https://www.manpowergroup.om/

Awasr Manpower

Website: http://www.awasrmanpower.com/

DOPET-Oman

Website: http://www.dopetoman.com/

Al Nahdha Group

Website: https://www.alnahdhagroup.com/

Carillion Alawi LLC

Website: https://carillionalawi.com/

Manav Corporate Consultants

Website: http://www.manavconsultants.com/

Resource Management Group Plus (RMG+)

Website: https://www.rmgoman.com/

Talent Management Consultancy

Website: http://talentmgt.net/

Times HR

Website: https://timeshr.com/

Necessary phone numbers in Oman

Emergency Services:

Royal Oman Police (ROP) Emergency: 9999

Ambulance and Medical Emergencies: 999

Fire and Civil Defense Emergency: 999

Coast Guard Emergency: 8007 2222

Tourist Police: 8007 4000 (for assistance with tourist-related issues and inquiries)

Electricity and Water Emergency: 1444

Oman Road Assistance (Tow Truck Service): 8007 2222

Lost and Found Services (Royal Oman Police): 8007 7777

Oman Airports Emergency Services: The emergency number may vary by airport, so check with the specific airport authorities.

Directory Assistance/Enquiries: 1313

Weather Information (Oman Meteorology Department): 24/7 Weather Information Service: 9811

Hospitals and Healthcare Facilities: The contact information for hospitals and healthcare facilities may vary by location, so it’s advisable to have the specific contact details for the healthcare facility you need.