Bondoni Frontline March 2025 – Oman’s Evolving Business & Regulatory Environment
Welcome to Bondoni Frontline, where we are highlighting more of government regulation changes and optimistic news about Oman’s economic initiatives for FDI and Bondoni’s new clients in 2025!
At Bondoni, we make a constant effort to communicate regular updates from the ministries and the government to ensure our clients and partners remain compliant with evolving regulations via timely emails and newsletter. Please ensure you read these important updates and our emailers carefully to stay informed.
Want to know more about the latest business news in the country? Visit our website!
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Please make sure you are compliant with the SPF requirements.
- All Employees must be registered with the Ministry of Labour (Bondoni will provide that service)
- On registration of MOL, they are automatically registered with the SPF.
- On the first day of the month, obtain your SPF fees from the SPF portal
- Payment must be made by the 15th of the month. We recommend that you pay it by the latest of the 12th of the month.
Failure to comply will result in fines for the first two months and CR document suspension at the end of the third month.
To know more:
Ministry of Labour mandates WPS registration for all companies
The Ministry of Labour (MoL) has mandated all companies, regardless of size, to register under the Wage Protection System (WPS).
Employer Requirements:
- Register with WPS through their local bank.
- Submit required documents (Commercial Registration, OCCI card, tenancy agreement, and bank forms).
- Salaries must be paid no later than the third day of each month to remain compliant (Bondoni recommends before the end of each month).
- Failure to comply may lead to warnings, penalties, or company restrictions in the Ministry of Labour system.
Salaries for all employees, including the first employee of the company must be paid through WPS. The Ministry is no longer allowing any flexibility for this.
To know more:
Oman data protection law compliance deadline extended
Oman’s Personal Data Protection Law (PDPL) compliance deadline has been extended. The Executive Regulations took effect on February 5, 2024, with an initial deadline of February 5, 2025. However, Ministerial Decision 6/2025 grants businesses an extension until February 5, 2026. This allows more time to meet data processing and management requirements.
Oman’s economy grows amid reform progress
The International Monetary Fund (IMF) commends Oman’s steady economic growth, attributing it to robust reforms under Oman Vision 2040. In its 2024 Article IV consultation, the IMF highlighted significant progress in economic diversification, fiscal management, and social reforms. Notably, the non-hydrocarbon sector expanded by 1.8% in 2023 and 3.8% in the first half of 2024, driven by construction, manufacturing, and services. The IMF emphasizes the importance of sustaining these reform efforts to ensure fiscal sustainability and further economic diversification.
UK investment in Oman surpasses $35 billion, expanding beyond oil and gas
The United Kingdom continues to be the largest investor in Oman, representing over 50% of the sultanate’s total Foreign Direct Investment (FDI) stock, as per the latest data from the National Centre for Statistics and Information (NCSI). Over the 12 months leading up to September 2024, UK foreign investment in Oman increased by $5 billion.
Cultural Considerations for Successful Business Operations in Oman
Operating a business in Oman requires not only an understanding of the market but also a sensitivity to the local culture and business practices. As Oman continues to develop as a strategic business hub in the Middle East, foreign investors and companies entering this market need to appreciate the nuances of the Omani business culture. This blog provides essential insights into the cultural considerations for successful business operations in Oman, helping international businesses build strong foundations and navigate local expectations.
Oman’s Employment Regulations and the New Labour Law: A Guide for Business Owners
Oman’s new labour law, promulgated by Royal Decree no. 53/2023. It came into force on July 31st, 2023, and was repealed 35/2003. For business owners, understanding and complying with these regulations is critical to achieving operational success and building strong employer-employee relationships. This guide provides a comprehensive overview of the key aspects of the new labour law.
We’re excited to welcome our newly appointed Client Services Manager, Raiyan Al-Mamari, to Bondoni this month. With extensive experience working with international companies, she is well-equipped to ensure our clients receive prompt and efficient support. Raiyan will serve as the primary point of contact for all client inquiries and support. Sir Charles and Salim remain available for any additional assistance as needed.
Bondoni presented to German company delegates in Smart Industry, Energy, Greentech, and High-tech during their visit to Oman. We highlighted company formation, JV opportunities, and Oman’s strategic business advantages. The discussion covered investor-friendly policies, world-class infrastructure, and Oman Vision 2040. Special thanks to H.E. Dirk Loelke and his team for hosting us at the German Residence. Appreciation also to Sousann El-Faksch from AHK Oman for organizing the event.
We’re thrilled to share that our clients and partners consistently rate us high on satisfaction and service quality! We remain committed to delivering excellence every step of the way. Our clients and partners have rated high on the rating when it comes to the following:
Client Satisfaction
Responsiveness
Government-related advice and knowledge sharing
Most likely to recommend our services
Achieving business goals
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