Many law firms have ongoing litigation and arbitration cases between international companies and their local sponsors.
There seems to be a significant trend for many large and medium LLC companies transferring (or wanting to transfer) their shares to an independent professional company sponsor who provides certainty, transparency and the flexibility to grow their businesses in this Geopolitical changing and challenging time.
So, if you are considering changing your local partner, the chart below shows 3 different options to seriously review when choosing to undertake a share transfer or to set up a business in Oman for the first time.
Any international investor who is considering a share transfer or formation of a new company needs to be advised that Oman requires specific documentation (much of it has to be attested or notarised) and a clearly defined sequence that has to be followed before being able to lawfully trade.
Shortcuts and doing it on the cheap are not sensible options!!
2019 Economic outlook– “Bondoni’s looking glass!”
The International Monetary Fund (IMF) predicts that Oman will become the fastest growing economy in the GCC region in 2019.
IMF has revised up Oman’s 2019 growth forecast from 4.1 to more than 5%. This is primarily based on increased oil prices, Oman’s prudent budgeting and a genuinely more sustainable diversification focus on other sectors such as tourism, logistics, renewable energy, mining and aquaculture.
In 2018, Bondoni welcomed 8 new partners from 6 different sectors, 7 different countries and 4 continents! So, a truly diverse client base which indicates a vote of confidence for Bondoni’s approach and the continued interest and activity in Oman.
We thank all our government and private sector partners for the great advice and support that has enabled us to help our clients streamline the business activities. We look forward to scaling those relationships as the business continues to prosper in 2019.