Register Company in Oman

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[av_heading heading=’Register Company in Oman’ tag=’h1′ style=’blockquote modern-quote’ subheading_active=’subheading_below’ show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#ffffff’ subheading_color=’#ffffff’ seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-llw8evc5′ sc_version=’1.0′ admin_preview_bg=”]
Fionza Consultants offers comprehensive support for clients seeking company registration in Oman. Our service bundle encompasses Oman company registration, establishment of corporate bank accounts, and expert handling of accounting and tax obligations. As your all-in-one solution, Fionza Consultants streamlines the process, ensuring a seamless and legal start to your business in Oman.
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Company Registration – 6 Week
Local Director? – No
Bank Account Opening – 4 Weeks
Travel Required – No
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[av_heading heading=’Register company in Oman: Introduction’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-llw8fdz1′ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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Experience a hassle-free company registration in Oman with Fionza Consultants, where our expertise in the entire incorporation process allows you to focus your time and resources on more critical aspects of your business.

Benefit from our efficient approach as our dedicated team ensures a seamless experience throughout the company registration process in Oman. We operate with a lean-and-mean mentality, committed to getting your business operationally ready within the specified timeframe.

Our comprehensive service package covers all your business setup needs in Oman, including:

1. Registering your company in Oman with the Ministry of Commerce and Industry
2. Local company secretary services and a registered address
3. Facilitating corporate bank account opening
4. Annual accounting and tax services

Choose Fionza Consultants for a streamlined and expertly managed journey to establish your business in Oman.
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[av_one_full first min_height=” vertical_alignment=’av-align-top’ space=” row_boxshadow=” row_boxshadow_width=’10’ row_boxshadow_color=” custom_margin=” margin=’0px’ av-desktop-margin=” av-medium-margin=” av-small-margin=” av-mini-margin=” mobile_breaking=” mobile_column_order=” border=” border_style=’solid’ border_color=” radius=” min_col_height=” padding=” av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” svg_div_top=” svg_div_top_color=’#333333′ svg_div_top_width=’100′ svg_div_top_height=’50’ svg_div_top_max_height=’none’ svg_div_top_flip=” svg_div_top_invert=” svg_div_top_front=” svg_div_top_opacity=” svg_div_top_preview=” svg_div_bottom=” svg_div_bottom_color=’#333333′ svg_div_bottom_width=’100′ svg_div_bottom_height=’50’ svg_div_bottom_max_height=’none’ svg_div_bottom_flip=” svg_div_bottom_invert=” svg_div_bottom_front=” svg_div_bottom_opacity=” svg_div_bottom_preview=” fold_type=” fold_height=” fold_more=’Read more’ fold_less=’Read less’ fold_text_style=” fold_btn_align=” column_boxshadow=” column_boxshadow_width=’10’ column_boxshadow_color=” background=’bg_color’ background_color=” background_gradient_direction=’vertical’ background_gradient_color1=’#000000′ background_gradient_color2=’#ffffff’ background_gradient_color3=” src=” background_position=’top left’ background_repeat=’no-repeat’ highlight=” highlight_size=” fold_overlay_color=” fold_text_color=” fold_btn_color=’theme-color’ fold_btn_bg_color=” fold_btn_font_color=” size-btn-text=” av-desktop-font-size-btn-text=” av-medium-font-size-btn-text=” av-small-font-size-btn-text=” av-mini-font-size-btn-text=” animation=” animation_duration=” animation_custom_bg_color=” animation_z_index_curtain=’100′ parallax_parallax=” parallax_parallax_speed=” av-desktop-parallax_parallax=” av-desktop-parallax_parallax_speed=” av-medium-parallax_parallax=” av-medium-parallax_parallax_speed=” av-small-parallax_parallax=” av-small-parallax_parallax_speed=” av-mini-parallax_parallax=” av-mini-parallax_parallax_speed=” fold_timer=” z_index_fold=” css_position=” css_position_location=” css_position_z_index=” av-desktop-css_position=” av-desktop-css_position_location=” av-desktop-css_position_z_index=” av-medium-css_position=” av-medium-css_position_location=” av-medium-css_position_z_index=” av-small-css_position=” av-small-css_position_location=” av-small-css_position_z_index=” av-mini-css_position=” av-mini-css_position_location=” av-mini-css_position_z_index=” link=” linktarget=” link_hover=” title_attr=” alt_attr=” mobile_display=” mobile_col_pos=’0′ id=” custom_class=” template_class=” aria_label=” av_uid=’av-g2eo0y’ sc_version=’1.0′]

[av_heading heading=’How long to register company in Oman and open a corporate bank account?’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-llw8gbqs’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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Fionza Consultants streamlines the process of registering a company in Oman, ensuring a seamless and hassle-free procedure. Upon receiving the necessary due diligence documents from directors and shareholders, our team conducts an Oman company registration search to verify the availability of your preferred company name.

The entire process to register a company in Oman can be executed remotely, eliminating the need for you to travel to the country. Within 6 weeks, expect to receive your new company documents, including the certificate of formation, Memorandum and Articles of Association, and the registry of directors and shareholders.

Following a successful company formation, Fionza Consultants facilitates the opening of a corporate bank account, either with a local bank or an international one based on your long-term goals. The process of opening a bank account in Oman for foreigners typically takes around 4 weeks.

Consequently, you can commence operations and issue invoices with your new business within 10 weeks of engaging Fionza Consultants. Our team of Chartered Accountants ensures ongoing compliance with local Tax Authority regulations by providing monthly bookkeeping, preparing financial statements, and handling annual tax return filings for your newly established company. Choose Fionza Consultants for a swift and compliant entry into the Oman business landscape.
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[av_heading heading=’Can a foreigner register company in Oman?’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-llw8j6et’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

[av_textblock fold_type=” fold_height=” fold_more=’Read more’ fold_less=’Read less’ fold_text_style=” fold_btn_align=” textblock_styling_align=” textblock_styling=” textblock_styling_gap=” textblock_styling_mobile=” size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” font_color=” color=” fold_overlay_color=” fold_text_color=” fold_btn_color=’theme-color’ fold_btn_bg_color=” fold_btn_font_color=” size-btn-text=” av-desktop-font-size-btn-text=” av-medium-font-size-btn-text=” av-small-font-size-btn-text=” av-mini-font-size-btn-text=” fold_timer=” z_index_fold=” id=” custom_class=” template_class=” av_uid=’av-llw8joc1′ sc_version=’1.0′ admin_preview_bg=”]
In the realm of Oman company formation, the government extends diverse options for foreign investors in choosing business entities. Fionza Consultants serves as your guide, providing expert advice on the requisite steps and criteria for initiating business operations in Oman.

Typically, foreign-owned businesses in Oman can be wholly owned, provided they avoid engaging in activities listed on the Ministry of Commerce and Industry’s blacklist. These restricted activities include services in protected industries such as transportation, tailoring, vehicle repairs, salon services, fishing, and retail sale of souvenirs, antiques, and paintings.

While the registration fee and minimum capital for a 100% foreign-owned company are higher than those for a standard company, LLCs with complete foreign ownership require a minimum capital of OMR 150,000.

Importantly, there’s no mandate for a local resident director or shareholder, offering flexibility in ownership structure. Choosing the most suitable entity involves considerations like personal liability protection, tax implications, ownership and management flexibility, and compliance requirements, each entity having its distinct features.

Before engagement, Fionza Consultants thoroughly understands your business, recommending the optimal business entity. Considerations include the type of business activity, tax obligations, and the nationalities of shareholders and directors. Our consultants provide detailed insights into entity setup requirements, ensuring a tailored approach for your business needs.
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[av_heading heading=’Types of entity structure to register company in Oman’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-llw8k0u4′ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

[av_textblock fold_type=” fold_height=” fold_more=’Read more’ fold_less=’Read less’ fold_text_style=” fold_btn_align=” textblock_styling_align=” textblock_styling=” textblock_styling_gap=” textblock_styling_mobile=” size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” font_color=” color=” fold_overlay_color=” fold_text_color=” fold_btn_color=’theme-color’ fold_btn_bg_color=” fold_btn_font_color=” size-btn-text=” av-desktop-font-size-btn-text=” av-medium-font-size-btn-text=” av-small-font-size-btn-text=” av-mini-font-size-btn-text=” fold_timer=” z_index_fold=” id=” custom_class=” template_class=” av_uid=’av-llw8moi0′ sc_version=’1.0′ admin_preview_bg=”]
Fionza Consultants provides expert guidance to recommend the optimal business entity for your foreign company registration in Oman, offering insights into four main types of company formations: Limited Liability Company (LLC), Limited Partnership, Branch Office, and Representative Office.

1. Limited Liability Company (LLC):
   • Common legal entity in Oman with liability protection and regulated capital access.
   • Shares are freely transferable, suitable for large businesses.
   • Restricted activities apply.
   • Minimum capital varies based on director nationality.
2. Limited Partnership:
   • Formed with general and limited partners.
   • General partners have managerial rights, while limited partners cannot manage.
   • No minimum capital requirement.
3. Branch Office:
   • An extension of the foreign parent company.
   • No distinct legal identity; debts borne by the parent company.
   • Typically set up for financial consolidation.
4. Representative Office:
   • 100% foreign-owned, restricted from local sales.
   • Ideal for market research and promotion.
   • No minimum paid-up share capital, minimal requirements.

Company Registration Process:

Step 1: Choosing Business Structure

• Fionza Consultants advises on the optimum business structure, capital, and licenses.

Step 2: Reservation of Company Name

• Fionza Consultants conducts a name search and registers it with the Commercial Registry.

Step 3: Document Preparation and Submission

• Assistance in preparing documents, including Arabic translation if necessary.

Step 4: Tax and Other Registrations

• Enrolling with the Tax Department and registration with local authorities.

Step 5: Creation of Company Seal

• Assistance in obtaining a company seal, including required documents.

Step 6: Corporate Bank Account Opening

• Fionza Consultants consolidates documents and assists in opening a corporate bank account, eliminating the need for directors and shareholders to travel.

Fionza Consultants ensures a seamless and efficient process, from choosing the right business entity to establishing your company’s operational presence in Oman
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[av_heading heading=’Post-Incorporation Process’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-llw8n3cm’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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After successfully completing the company registration process in Oman, adherence to post-incorporation procedures is crucial for compliance with the country’s laws and regulations. Here are some key post-incorporation steps for a company registered in Oman:

1. Obtaining a Tax Card:
   • Companies must acquire a Tax Card from the Tax Authority within 30 days of registration.
   • The Tax Card is essential for bank account opening, contract signing, and tax return filing.
2. Registering for Social Security:
   • Within 15 days of employment commencement, companies must register employees with the Public Authority for Social Insurance (PASI).
   • Employers are obligated to contribute to the social security fund on behalf of their employees.
3. Registering for Value Added Tax (VAT):
   • Companies exceeding an annual turnover of OMR 38,500 (approximately USD 100,000) must register for VAT.
   • The process involves obtaining a VAT registration number and submitting periodic VAT returns.
4. Obtaining Licenses and Permits:
   • Depending on the business nature, additional licenses and permits may be necessary.
   • For instance, a construction company might require a building permit from the Ministry of Housing and Urban Planning.
5. Maintaining Company Records:
   • Companies must diligently keep accurate and up-to-date records of financial transactions, including invoices, receipts, and contracts.

For a seamless transition into post-incorporation compliance, Fionza Consultants offers expert assistance. Our services ensure that your company in Oman meets all necessary legal and regulatory requirements, allowing you to focus on the growth and success of your business.
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[av_heading heading=’Accounting and tax obligations’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-llw8nzt2′ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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Welcome to Fionza Consultants, your trusted partner for top-notch accounting and tax services in Oman. International clients choose us to handle their financial obligations with confidence, ensuring timely completion of financial statements, corporate tax returns, and audits – all without the need for you to travel.

Outsourcing to Fionza Consultants means reducing overhead costs while guaranteeing prompt reporting and filings. Our expert team keeps you informed about deadlines and expectations before the engagement begins. We proactively prepare all required filings in advance to meet stipulated deadlines.

Annual Reporting Requirements: Oman’s financial fiscal year aligns with the calendar year. Newly established companies can choose an opening period of 12 or up to 18 months. Within six months after the fiscal year, companies must file an annual income tax return with audited financial statements and any owed taxes.

Local laws mandate maintaining accounting records for a minimum of 10 years before the end of the accounting period. All companies should follow International Financial Reporting Standards in preparing financial statements, submitted in Arabic. Fionza Consultants ensures compliance, including professional translation services.

Corporate Income Tax: Oman companies face a 15% Corporate Income Tax rate, except for oil companies with a rate of up to 55%. Small and medium-sized enterprises may qualify for a reduced rate of 3% if meeting specific criteria:

• Authorized share capital not exceeding OMR 50,000
• Gross income less than OMR 100,000
• Fewer than 15 employees
• Not engaged in specific business activities.

Dividend Distribution Tax: Distributing dividends to non-residents incurs no withholding tax. However, a 10% withholding tax applies to payments to foreign companies without a permanent establishment in Oman.

Capital Gains Tax: Capital gains tax is set at a 15% rate.

Count on Fionza Consultants to guide you through these tax considerations. Partner with us for seamless and efficient accounting and tax services in Oman.
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[av_heading heading=’Why register company in Oman?’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-llw8qn9i’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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Political

In its drive to stimulate economic growth, the local government is consistently enhancing diversification initiatives, with a particular focus on boosting the tourism sector. While Qaboos’ leadership in Oman was influential in managing both domestic and foreign affairs, it was accompanied by economic challenges and political discontent. As per the 2020 Corruption Perceptions Index by Transparency International, Oman ranks 54th among 180 countries in terms of public sector corruption.

Economic

Oman maintains robust bilateral relations with the United States, resulting in a free-trade agreement eliminating tariff barriers. American investors enjoy equal treatment with Omani counterparts, allowing them full foreign ownership rights and no capital limitations for local business operations. Diversification and foreign investment, notably through the establishment of ports and free zones like Sohar, have fortified the domestic economy.

Social

Oman is generally regarded as a safe country and plays a significant role as a regional counterterrorism partner, according to the Overseas Security Advisory Council. The official language is Arabic, with English proficiency ranking 98th out of 100, as per Education First’s 2020 English Proficiency Index. Ethnic tensions within the country may pose challenges to social harmony.

Technological: The Oman Technology Fund is dedicated to fostering innovation in the Information and Communications Technology sector. State initiatives, such as the Government Innovation Initiative, promote innovation in government entities through technology adoption. The Royal Oman Police utilizes drones for combating the Coronavirus Disease 2019, showcasing technological advancements.

Legal

Islamic law serves as the basis for legislation in Oman, continually adapting to provide a flexible and pro-business framework. Geographically located free zones are distinct legal jurisdictions, each with its regulatory laws. Oman Labour Law mandates Arabic language execution of employment contracts, potentially causing challenges for businesses operating in the nation.

Environmental

Oman upholds high environmental standards, pledging commitment through documents on environment protection and development in the Arab world. Plans for a wind farm in Harweel and intentions of the state-owned Petroleum Development to build more solar power projects highlight Oman’s dedication to sustainable energy.
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[av_heading heading=’Find out more about how to register company in Oman’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-llw8rt7k’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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• Contact us to learn more about how to register company in Oman. Our dedicated and experienced team will revert within the next 24 hours and answer all your queries.

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[av_heading heading=’FAQ’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-2pzcuq’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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[av_toggle title=’What is the best business in Oman?’ tags=” custom_id=” av_uid=’av-llw8ti6x’ sc_version=’1.0′]

• Some profitable industries to consider are the agriculture industry and the technology industry. In an attempt to reduce the country’s reliance on oil exports, the local government has been emphasising on the expansion of non-oil sectors such as agriculture. It is relatively cheap to buy farming land in Oman and setting up an agriculture business locally may allow you to apply for grants or interest subsidies from banks.

• The IT and technology industry in Oman is another attractive industry to set up a company in as it is still growing and hence there are many business opportunities in this sector. The government has set up a Technology Fund to encourage entrepreneurs to incorporate IT and tech companies that have the potential to implement technical innovation ideas within the country. Hence, setting up a tech related business in the jurisdiction will give you access to greater investment capital and grants.

• Alternatively, business owners can consider setting up commodity stores in Oman. Companies that set up in free zones will be exempted from import duties, hence setting up a commodity store to sell imported goods may be profitable.

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[av_toggle title=’What is the minimum capital required for company registration in Oman?’ tags=” custom_id=” av_uid=’av-llw8u5do’ sc_version=’1.0′]

• The minimum capital required for company registration in Oman varies depending on the type of company and its activities. A Limited Liability Company (LLC), which is the most common type of company in Oman, requires a minimum capital of OMR 20,000 (approximately USD 52,000), with at least 30% of the capital to be paid up at the time of registration. A Joint Stock Company (SAOG), a publicly traded company in Oman, requires a minimum capital of OMR 2,000,000 (approximately USD 5,200,000), with at least 25% of the capital to be paid up at the time of registration.

• It is important to note that these are just the minimum capital requirements, and companies may choose to invest more capital depending on their business needs and goals. The registration process and requirements may also vary depending on the type of company and its activities, so it is advisable to enlist guidance from Fionza Consultants’ team of business setup experts to ensure compliance with the regulations.

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[av_toggle title=’What is the main regulatory authority for company registration in Oman?’ tags=” custom_id=” av_uid=’av-llw8uplc’ sc_version=’1.0′]

• The primary regulatory authority for company registration in Oman is the Ministry of Commerce, Industry, and Investment Promotion (MOCIIP). The MOCIIP oversees the registration of both new and existing companies in Oman. The ministry has several departments and agencies responsible for facilitating the registration process, such as the Department of Commercial Registration, the Directorate General of Investment Promotion, and the Public Authority for Investment Promotion and Export Development.

• The Department of Commercial Registration is responsible for registering businesses and issuing commercial licenses. It also maintains a commercial register that contains information about registered companies in Oman. The Directorate General of Investment Promotion is responsible for promoting foreign investment in Oman and facilitating the establishment of foreign companies in the country. On the other hand, the Public Authority for Investment Promotion and Export Development is responsible for promoting Omani products and services in international markets and attracting foreign investment to the country.

• Conclusively, the MOCIIP is the main regulatory authority for company registration in Oman and is essential in promoting investment in the country.

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[av_toggle title=’How much does it cost to start a business in Oman?’ tags=” custom_id=” av_uid=’av-llw8vibd’ sc_version=’1.0′]

• The minimum shared capital necessary to incorporate a foreign-owned Limited Liability Company is OMR 150,000. As for Fionza Consultants’ engagement fees, this will depend on the exact services required from Fionza Consultants. Our fees are inclusive of government fees and all fees will be clearly stated in our engagement letter prior to the start of the engagement. Fionza Consultants believes in transparency with our valued clients and there are no hidden fees.

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[av_toggle title=’Is a company secretary necessary to incorporate a business in Oman?’ tags=” custom_id=” av_uid=’av-llw8w7o4′ sc_version=’1.0′]

• No, a company secretary is not necessary. However, Fionza Consultants will provide you with a local secretary to assist in the annual tax filing and accounting requirements.

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[av_toggle title=’Do I need a resident director to incorporate a business in Oman?’ tags=” custom_id=” av_uid=’av-llw8z8fz’ sc_version=’1.0′]

• No, a resident director is not required to incorporate in Oman. There is no nationality requirement for directors in an Oman business.

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[av_toggle title=’What are the minimum requirements to set up an LLC in Oman?’ tags=” custom_id=” av_uid=’av-llw8ztdz’ sc_version=’1.0′]

• To set up an LLC in Oman, you will need to have at least 2 shareholders and 1 director. There are no nationality requirements for the director or shareholder. Other requirements for company registration include having a listed address in Oman and a minimum paid-up capital of OMR 150,000 for foreign-owned companies.

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[av_toggle title=’What is the mandatory criteria for a fully-foreign owned business in Oman?’ tags=” custom_id=” av_uid=’av-llw90g1s’ sc_version=’1.0′]

• Previously, foreign ownership was capped at 70% of share capital for commercial companies. Under the new Foreign Capital Investment Law in 2020, companies operating in specific sectors are allowed 100% foreign ownership.

• As long as companies do not conduct business activities on the blacklist released by the Ministry of Commerce and Industry, they can apply for approval to be wholly foreign-owned through the Oman Chamber of Commerce and Industry. The blacklist includes activities in protected industries such as transportation, tailoring, vehicle repairs, salon services, fishing, retail sale of souvenirs, antiques, and paintings, etc.

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[av_toggle title=’How many Free Zones are there in Oman?’ tags=” custom_id=” av_uid=’av-llw90ta5′ sc_version=’1.0′][/av_toggle]
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