Business Incorporation Services in Oman
Oman, a thriving member of the GCC, is actively positioning itself as a premier business hub in the region, offering abundant opportunities for expatriates. The Omani government is committed to attracting foreign investments across various scales, having undertaken significant efforts to diversify the nation's economic landscape.
In a strategic move away from heavy reliance on oil and gas production, Oman has revamped its social and economic structure, welcoming billions of dollars in secured investments. The government's recent initiatives, including revised investment laws, permit 100% foreign ownership in most sectors, marking Oman as an emerging economic leader in the region.
Key Advantages of Establishing Your Business in Oman:
Strategic Business Location: Oman boasts a growing economy and strategic access to trade routes via its ports on the Indian Ocean.
Foreign Investment Inflow: The country is witnessing substantial funding and investment from the GCC and other nations.
Ownership Flexibility: Most industries and business activities allow 100% foreign ownership.
Tax Benefits: Oman offers no personal tax, low corporate tax, and has special tax treaties with several countries.
Special Economic Zones: Free zones and Special Economic Zones with tax exemption incentives are available.
Diplomatic Relations: Oman maintains good relations with neighboring countries, ensuring a stable and safe business environment.
Workforce Availability: The nation provides access to a skilled workforce.
Abundant Natural Resources: Oman's wealth of natural resources contributes to its economic potential.
Why Choose ISO-Xpert for Your Business Setup:
Local Expertise: As an established Omani company, ISO-Xpert understands and navigates local rules and regulations, ensuring a seamless experience for clients.
Client-Centric Approach: ISO-Xpert prioritizes customer interests, placing them at the core of the business setup process.
Extensive Network: With a broad network of connections, ISO-Xpert expedites the establishment of businesses, minimizing setup time.
Proven Track Record: ISO-Xpert has a successful history of assisting entrepreneurs and enterprises in starting or expanding their businesses in the Sultanate.
Cost-Conscious: Recognizing the importance of cash flow, ISO-Xpert ensures clients do not incur unnecessary expenses during the business establishment process.
Our services focus on aiding entrepreneurs and enterprises in initiating their businesses within the Sultanate of Oman.
How to register a company in Oman?
Step 1: Optimal Selection of Business Structure for Company Registration in Oman
Before initiating the company registration process in Oman, it is imperative to make the right choice regarding the type of company. ISO-Xpert Consultants, considering your business structure and long-term objectives, will offer guidance on the most suitable business entity, paid-up capital, corporate structure, and relevant business licenses, including the municipality license if applicable. Typically, ISO-Xpert Consultants leans towards recommending LLC company registration in Oman, given its prevalence as a legal entity in the country and its ease of incorporation for a single shareholder.
Step 2: Company Name Reservation
ISO-Xpert Consultants will conduct a thorough search and complete the registration of your company name in Oman through the Commercial Registry of the Ministry of Commerce and Industry.
Step 3: Document Preparation and Submission for Oman Company Registration
ISO-Xpert Consultants will support you in preparing the required documents for registering your company in Oman with the local company registration authority. These documents encompass a draft of the Memorandum and Articles of Association, a business plan, and other essential incorporation documents. Since the Constitutive Documents must be in the Arabic language, ISO-Xpert Consultants will engage a professional translator to ensure accurate translation.
Upon successful registration, ISO-Xpert Consultants will dispatch the Certificate of Incorporation, Memorandum and Articles of Association, and other corporate documents to your chosen address, with your Oman company registration number indicated on the Certificate of Incorporation.
Step 4: Tax Registration and Other Relevant Registrations
Following the acquisition of the Certificate of Incorporation, our team will proceed to enroll with the Tax Department at the Ministry of Finance. Subsequently, we will facilitate the registration of your business with local authorities such as the Royal Police, Muscat Municipality, and the Ministry of Manpower.
Step 5: Company Seal Creation
All companies in Oman necessitate a company seal issued by the authorized signatory. ISO-Xpert Consultants will assist you in obtaining and submitting required documents, such as a Chamber of Commerce and Industry Affiliation certificate, an authorized signatory form, and a certificate of initial capital deposit. Additionally, we will help design and order a company seal from a third-party supplier.
Step 6: Corporate Bank Account Opening Post Oman Company Registration
Depending on your business structure, ISO-Xpert Consultants will streamline the necessary documents and facilitate the opening of a corporate bank account with a reputable bank of your choice. While directors and shareholders typically aren't required to travel for the bank account opening, our representative can accompany you to the bank meeting if needed.
Post-Incorporation Procedures:
After concluding the Oman company registration process, several post-incorporation procedures must be undertaken to comply with the country's laws and regulations. Key post-incorporation procedures include:
Obtaining a Tax Card: Within 30 days of registration, companies must obtain a Tax Card from the Tax Authority.
Registering for Social Security: Within 15 days of employment commencement, companies must register employees with the Public Authority for Social Insurance (PASI).
Registering for Value Added Tax (VAT): Companies exceeding an annual turnover of OMR 38,500 must register for VAT.
Obtaining Licenses and Permits: Depending on the business nature, additional licenses and permits may be required.
Maintaining Company Records: Companies must maintain accurate and up-to-date financial records.