Mainland Company Formation in Oman
Oman is the best place in GCC for Business Setup in Oman Mascot is the Business hub and allows local and international companies to invest in many activities in field business. The economy and Currency are most stable than other GCC countries now a day.
GCC Middle Eastern nations have always been a favorite Arab destination for the business industries in Oman has been standing as one of the dynamic nations beneficial for a freelancer to a multi-millionaire, every business mind can find the best profitable place in GCC Region.
There are major three considerations you should look at, before setting up a company in Oman
Company Formation in Oman is not so easy, if you are a foreigner and want to start a business in Oman, then you must need to know about sultanate Oman government rules and regulations. We are MeharBiz also known as Mehar Business Solution in GCC Countries, we work as a business setup in Oman as a biz advisor, or we can form a company on your behalf. We are happy to assist you with the best advice and guide you right steps that need to be fulfilled for setting a business smoothly.
Same like other GCC Emirates, Oman allow Business establishment Categories find below
How to Start a Business in Oman?
The Sultanate of Oman government has been taking more advanced steps to encourage new and old investors. Promote diversification and privatization, industrialization.
The First Step is to Reserve a Trade Name
First of all, need to apply ministry of commerce and industry (MCI) to reserve a unique name of your business because name approval must require by Omani law.
3rd Step Need Registration in Chamber of Commerce and Industry (OCCI) Department
After Registering with the MCI department and OCCI for compliance with the commercial rules and regulations required by Oman Government for Business setup in Oman.
5th step is to Design a Company Seal or Stamp
Company stamp is present your company existence in Oman and use this for letterhead, invoice, quotation, and many more. Company stamp in Oman showing your business entity
2nd step is to submit the company essentials
As per Company formation need to submit all necessary documentations for Business setup in Oman. This means after approval of the company name, then need to submit shareholder agreements and shareholder documents contract, and signatory form and bank certificate submit these all documents to MCI Department.
4th Step Get Respective Approvals from the Oman Government Department
Depending upon your business’s nature, size, and activities, you may need to obtain a couple of government approvals. More Details find below
• Tax registration
• Registration with the Royal Oman Police Department
• Registration with the Ministry of Manpower, to file for labor clearances and visas
• Municipality license Registration and Approval
• Import and export license, if required
• Industrial, environmental, and other permits and licenses
There are 4 free zones in Oman
Sultanate of Oman allows Local or Foreigners to set up Business in Oman Free Zones
Banking System in Oman
One of the core fronts that every investor should be aware of is the banking process that every business entity or trade license activity must follow. Opening a corporate bank account helps a business investor gain multiple benefits right from keeping track of the business expenses to monitoring the financial growth, and many more we will assist with your bank account opening process.
How to Start Company Formation in Oman?
It’s important to fulfill all factors required by Government Omani when deciding on the best time for you to start a company in oman. We Offering a flexible time frame can make a world of difference, and make your entire process of business formation in oman easier. We have an authorized agent and can complete all documents and insuring trade license
How Do I Set up a Company in Oman?
- A trade name must be unique & related to the business because Trade Name must require
- Need to Submit Documents of Incorporation and Memorandum,
- Bank Letter Require
- Register with Chamber of Commerce authorities
- Register the Business of Municipality
- Apply for Visa after completing the trade license process
- Employee Registration also require for your staff
How much does it cost to establish a company in Oman?
Different Oman entity types and their estimated Cost
- Oman Sohar Free Zone company with General Trading License US$37,405
- Branch of a foreign company US$33,850
- Representative office US$27,450
- Subsidiary LLC US$29,410
Can foreigners own business in Oman?
- Foreign citizens are also able to open a company in Oman, although there is some requirements & limitations that must be considered by foreigners or business consultant hired by a foreigner, The country has also created economic free zones to incentivize international foreign investment.