Business Registration in Oman

Change in regulations and the removal of restrictions in this area have increased migration statistics to Oman through company registration. Considering all these factors and the growing interest of Iranians in starting businesses in this country, in this article, we intend to examine the conditions for company registration in Oman, its laws in 2023, associated costs, and the procedures involved. Continuing further, we will explore various types of companies and licenses for registration in Oman, take a look at the pros and cons of company registration in this country, and suggest several areas for Iranians to consider when registering a company in Oman.

Types of companies for registration in Oman

 

1. General Partnership
2. Limited Partnership
3. Limited Liability Company (LLC)
4. Joint Stock Company
5. Holding Companies
6. Branch Office
7. Representative Companies
8. Joint Venture
 
Considering the advantages of registering a public joint-stock company in Oman (LLC) and its ideal conditions for foreign investors, the popularity of LLC companies for registration is increasing. In the following, we will examine the conditions for registering a company in Oman as an LLC.
 

Registration of an Excellent Grade Company in Oman

 

Registering an Excellent Grade Company in Oman is mostly related to large industrial businesses, mines, mass production, factories, and large projects. Engaging in activities such as currency exchange, money exchange, and stock markets is not possible for non-Omani citizens in this method. One of the conditions for registering a company in Oman using an excellent-grade license is the presence of a maximum of 5 partners or investors in the company registration

 

Advantages of Registering a Company in Oman with an Excellent Grade License

 

Potential to attract more workforce and greater government support in the field of human resources compared to other licenses. Ability to participate in tenders, undertake construction projects, and engage in buying and selling real estate. No requirement for an Omani partner or guarantor in the process, and 100% foreign ownership.

 

Advantages and Disadvantages of Registering a Company in Oman

 

Among the most important advantages of registering a company in Oman, we can mention:

  • Obtaining Residency and Living in Oman

  • 100% Ownership Registering a Company Without an Omani Partner

  • Work and trade in one of the growing economies of the region and the possibility of easy trade between the countries of the GCC (Gulf Cooperation Council) region.

  • Free Transfer of Capital and Profits

  • Importation of Machinery and Equipment Duty-Free

  • Political Stability

  • Benefitting from Various Support Programs

  • Tax-Free

  • Business and Trade with One of the Most Valuable Currencies (Omani Rial)

  • Opening an International Bank Account

Among the most significant disadvantages of registering a company in Oman, we can mention the lack of issuance of permanent residency in Oman for applicants and the absence of the possibility of registering a company in all sectors.

Investment in Oman

 

According to the statistics of the United Nations Conference on Trade and Development (UNCTAD), investment in Oman increased in 2020 despite the COVID-19 pandemic, reaching $4.1 billion. Oman, due to its strategic location, strong national currency, high growth potential, and good economic relations, is one of the best countries in the Middle East and the Gulf region for investment. Because of the good political relations between Oman and Iran, investing in Oman is straightforward for Iranians, and obtaining residency in the country is also simple and hassle-free.

 

Advantages of investing in Oman

 

In recent years, Oman has amended foreign investment laws and structures to reduce dependency on crude oil, making it easier for foreign investments to enter and grow in various sectors. These changes have turned investment in the country into a strength. The key aspects of these advantages are outlined below:

  • Political and Economic Stability

  • No Personal Income Tax

  • Low Customs Duty Rates

  • Free Trade System

  • Best Geographic Location for Investment (Easy Access to the Markets of the Persian Gulf, Asia, and Africa)

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  • Special Laws to Support the Rights of Foreign Investors

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  • Opening an International Bank Account

 

Investment Methods in Oman

 

There are various methods for investment in the country of Oman, among which company registration and property acquisition are considered some of the best and most popular approaches. Given the economic growth, the high value of the national currency, and diverse opportunities for work, currently, company registration is the optimal choice for investment in Oman for Iranians. In the following, we will elaborate more on these methods:

The new Foreign Capital Investment Law (FCIL) in Oman, which came into effect in 2020, allows foreign investors to establish their own company and have 100% ownership in many sectors. The possibility of registering and launching various companies in Oman is usually better and easier for Iranians, especially with Limited Liability Companies (LLC) being preferable options. The licenses for registering an LLC in this country are divided into four types:

The real estate market in Oman has undergone significant changes in recent years with the goal of reducing dependence on oil. Those interested in buying property in Oman can purchase homes in specific areas known as Integrated Tourism Complexes (ITCs). Al Mouj and Muscat Hills are examples of these areas. By buying property in Oman, you can have ownership for up to 99 years and receive a loan of up to 80% of the property value with a 25-year repayment period. Purchasing property in this country also grants you and your family Omani visas and residency, which becomes void upon selling the property. However, it should be noted that this residency is not permanent but is extendable.

  • Investment through company registration

    • Excellent Grade

    • First Grade

    • Second Grade

    • Third Grade

    • Fourth Grade

  • Each of these licenses has its own conditions and costs. Among the investment conditions for Oman through company registration are obtaining an Excellent Grade or First Grade license and paying the associated fees. You can find more details and information on this topic in the article on registering a company in Oman.

  • Investment through property acquisition

  • Benefits of company registration in Oman

    • Proximity to Iran and Oman (3-hour time difference)

    • Obtaining residency in Oman and living in the country

    • 100% ownership of the registered company by the individual

    • Possibility of opening an account in international banks

    • Widespread use of English in commercial fields

    • Possibility of international trade and gaining credibility in global markets

    • Tax exemption for registered companies in Oman Free Zones

    • Industrial diversity in Oman, providing opportunities for various activities

    • Transparent and efficient legal system to protect the rights of traders and merchants

    • Powerful and growing economy, with the Omani Rial consistently being one of the most valuable currencies globally

    • Strategic location of Oman facilitating access to European, Asian, American, and African markets

    • Oman's commitment to the highest environmental standards, with all companies obliged to comply with environmental laws

    • Active participation of Oman in global forums; currently a member of organizations such as the World Trade Organization, International Grains Council, Gulf Cooperation Council, etc.

    • Political stability in Oman, as the country has refrained from involvement in regional political tensions in recent years, ensuring long-term economic security for investors.

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+968 9072 6000

Muscat, Oman

Seeb Al Khud

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+98 917800549

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