A New Market Awaits: Business Set Up in Oman
Setting up an Oman business provides directors with a stable and developing environment. CBD’s strategic positioning allows us to support investors with company formation in Oman across various industries.
Oman has strong connections with other countries around the world, opening the door to more opportunities for business growth.
Oman is part of the GCC and offers fantastic opportunities for businesses operating within many industries, such as logistics, manufacturing, technology and creativity. Oman has a favourable business forecast due to the introduction of the Oman Vision 2040. This vision aims to encourage more industry growth across the country.
An Oman business can benefit from a multitude of initiatives, such as tax exemptions and the use of free zones. As a newly established entrepreneur, you may qualify for zero tax before earning a certain amount. After this point, you’ll benefit from a low 15% tax rate in the country.
Oman has a range of business formation opportunities, including the incorporation of a Limited Liability Company, Limited Partnership, Branch or Representative Office and more. At CBD, we can support you with all types of company formation.
Oman has some of the most successful free zones in the GCC and benefits from valuable economic zones. Each zone has its own benefits, including 100% foreign ownership and various low-tax initiatives.
Getting the correct licenses in Oman
When applying for an Oman company set-up, you must obtain the correct licenses for your business type. You must also ensure that you have obtained the correct Oman visa before travelling to the country. Various visa options are available depending on how long you plan to stay in the country.
You will need to obtain a commercial license to conduct business in Oman. You may also be required to obtain additional trade licenses for your business to operate legally.
Benefits of Starting A Business In Oman
There are many benefits to starting a business in Oman. Its fantastic location opens the door to many business opportunities and various tax benefits for entrepreneurs setting up a company in Oman.
Oman is situated in a great location, and many countries have benefitted from the opportunities that Oman offers. Oman is popular with tourists and entrepreneurs due to the friendliness and generosity of the locals.
The strategic location and friendly locals allow for great relations with other nearby countries regardless of the business structure you choose to use.
To encourage company formation in Oman, the Government introduced a range of incentives, such as tax exemptions. Some of these exemptions were only introduced for some industries, such as manufacturing, agriculture, mining, tourism, fishing, logistics and services.
Our company formation experts can assess your business structure and inform you of your tax requirements. These tax benefits can be advantageous to your business plans.
Great workforce availability
A large percentage of the Oman population are currently part of a workforce. A strong workforce appeals to business owners and more company formations attract more workers.
Operating in Oman gives you access to a strong workforce, regardless of your chosen business structure.
Oman is a popular country for many reasons, including its world-class infrastructure. There have been lots of investments in transport links within and outside of Oman. This has allowed the country to encourage more business investment.
Natural resource availability
Oman is known for its oil exporting. These oil exports have improved the economy of the country. This benefits business entrepreneurs and workers within Oman, as more jobs are available.
To set up your company in Oman, you will be required to provide a range of documents. Having these documents ready on time helps speed up the company formation process in Oman. On average, the process takes around ten weeks to complete.
- Memorandum and articles of association
- Shareholder visas
- Shareholder passports
- Tax registration document
- Initial deposit certificate
- Company registration form
- Chamber of Commerce certification
You may be required to provide more information and documents for company formation. Our company formation experts can support you with obtaining the correct trade license for your company.
Yes – our team can provide local sponsorship services in Oman. We can act as an agent and represent the company on your behalf. This allows you to operate a mainland company. As a corporate nominee partner, there is no monetary obligation or legal responsibility for the company itself. All responsibilities lie with the company directors.
- Nominee Shareholder Services
- Company Formation
- Visa Services
If you need any support with your company formation in Oman, our team are always happy to help. We can ensure that the process runs smoothly for you and your employees.
Yes – CBD Corporate Services can support you with all visa and immigration processes in Oman. We can ensure that you get the correct trade license for your company formation. The visa options available will depend on the amount of time you plan to spend in the country. You will also need to obtain a commercial license for a company set up in Oman.
The cost varies depending on the services required. After a consultation, the team will create a bespoke suite of services tailored to your needs, and such is applicable to the cost as well.
Get our Oman Business Guide
Download our 2023 Guide to doing Business in Oman.