Company Registration in Oman

WHY REGISTER A COMPANY IN OMAN

 Oman has many different free zones as well as industrial areas that grant foreign countries owners’ rights. And they will be exempted from taxation for up to 50 years.

• For the transportation of goods, Iranian businessmen can deliver their goods from Sohar port, thereby greatly reducing the import of goods to Iran.
• This is the Limited Liability Company which is registered in Oman Country. So property taxation and value added tax will be exempted from dividends.
• Possible to import and export goods all around the world without any international limitations
• Oman is a member of the World Trade Organization (WTO)
• Having high security and economic stability for long-term investment
• Easy to get UK Schengen Visa, Canada and, etc.
• Opening bank account in reputable international bank
• Getting the valuable work permit in Oman

PROCESS OF REGISTERING A COMPANY IN OMAN

Oman company registration process is as follows:

Reserve a Company Name

Submit an application to the Ministry of Commerce and Industry (MCI) to reserve a unique name for your company, subject to nomenclature norms in Omani Law.

Submit Incorporation Documents

Once the company name is reserved and approved, draft the shareholder documents and constitutive contract, and obtain the authorized signatory form and bank certificate, and submit these to the MCI.

Register with the Oman Chamber of Commerce and Industry (OCCI)

After registering with the MCI, register with the OCCI, for compliance with the commercial rules and regulation required of a corporate in Oman.

Get Approvals from Government Departments

Depending upon the nature, size and activities of your business, you may need to obtain a couple of government approvals. This can include obtaining or carrying out:

• Tax registration
• Registration with the Royal Oman Police
• Registration with the Ministry of Manpower, to file for labor clearances and visas
• Municipality license
• Import/export license, if required

Industrial, environmental and other permits and licenses

Design a Company Seal

Get a company seal designed.

• Documents Required for Omani Company Registration
• Company registration form
• Copy of valid ID of the shareholders and authorized signatories of the company
• An approved authorized signatory form, with the signatures and names of the authorized signatories of the company
• Company statutes
• Chamber of Commerce and Industry Affiliation certificate
• Certificate of initial capital deposit at bank

Investment in Oman

Oman is the best choice for investment in the region; It has a stable politics and economy in the region so the business dealing will get more easier. The entrepreneurs can run their businesses without any problem from far way. The lawmakers always trying to run their businesses in a friendly environment. The people who are eager to register a company in Oman as we as in free zones of Oman. The applicant can own the 100 percent of a company’s shares in Oman by registering a company in free zones. So to register a company in free zones of Oman the applicant is responsible to provide a comprehensive business plan.

Different Banks of Oman

• Bank Muscat
• Bank Dhofar
• National Bank of Oman
• Sohar International
• Oman Arab Bank
• HSBC Oman
• Ahli Bank
• Bank Nizwa
• Alizz Islamic Bank
• BANK OF BAVODA

Three types of Companies can be registered in Oman

100% Arabian Shareholder

If a company is registered in this way, one Oman citizen will be chosen as the sole owner of the company. Obtaining Identity Card for two years, opening bank account and all the financial and business affairs will be done through this type of registration. Omani citizen is the owner the company apparently and all financial authorities as well as the business responsibilities of the company will be delivered from Omani citizen by the full power of attorney. The fees of this type of registration are the more sensible and more convincing than any other types of company registration.

100% Iranian Shareholder

Three persons can be as shareholders in the company. Obtaining one year residence card for customer, Opening bank account, and doing all the financial and business affairs are the most important benefits of this type of registration. In this type of company registration foreign client (Iranian) can be as 100% shareholder. But 3000 Rials should be paid more.

70% Arabian and 30% Iranian shareholder

One Iranian shareholder entered the company and will get one year residence card And can benefit all the relevant rights and privileges like: opening bank account.

And it is possible to get Schengen, UK and Canada Visas easily by registering this type of company. the process will be done only within one week.

• Scanned passport of the person OR persons who are applying for the company registration with at least one year of validity.
• 6 months bank account printed form (to show the bank account statement).
• Certificate of non-criminal record of the applicants.
• One colorful photo (3*4).

Trademark Law in Oman

The trademark definition in Oman is that any sign distinctly and graphically distinguishes goods and services, this is called trademark in Oman. A trademark may contain words (even person’s name), design, group, colors or colors combination, geographical signs, odor and taste.

Cost of Company Registration in Oman

The cost is different and is depending on the company’s activities, but at least need to provide 2700 OMR to 4500 OMR to register a company in Oman. In the meantime 1000 OMR will be paid for extension of the license annually.