No, you don’t. Its advisable to choose your distributor carefully and to have a tier one or two national or international lawyer to draw up your legal framework.
The capital only needs to be deposited after your company has been registered.
It does not have to be a single lump sum. Provided you demonstrate that the capital has been deposited, there are different options on how to do this:
Free zones in Oman.
There are four operational free zones in Oman:
Setting up in an Oman Free zone.
Each free zone has its own services, criteria, restrictions and benefits but generally they all offer a similar range of benefits:
NOTE please see the specific services, restrictions and benefits of the specific Free zone that you are considering.
It depends on your business objectives:
Legally the local sponsor will always own the minimum of 30%. However, through a shareholder’s agreement, the international investor can negotiate a commercial agreement to control 99.9% of the shares along with the full fiduciary, financial, management and operational responsibilities. This is known as a “Silent Partner”
Choosing the Right Local Sponsor.
There are many unknown variables that make it difficult to commit to the overall timelines as it depends on many factors which are in the hands of the client. (I.e. documentation approvals, notarisations etc.) Our experience suggests that companies should anticipate that the whole process will take between 1-2 months.
This completely depends on your business activity, your nationality, whether you set up a LLC or a free zone LLC etc. For more information refer to the guides on this website.
Every company in the Oman requires the services of a Government Liaison Officer who has to be an Omani citizen. They are locally known as a Public Relations Officer or PRO.
PROs are responsible for processing governmental documents and paperwork such as visa applications, labour cards, and company registration documentation and approvals in multiple government offices including:
Oman’s banks are very strictly regulated, and you will need to go through the hoops before opening an account.
Whilst some banks are more flexible than others, there are strict processes and procedures to achieve before a person can open an account. They include:
Yes. The is the first compulsory requirement after you have registered your company with the ministry of Commerce and Industry and the chamber of commerce.
GCC countries are different to an international company. A GCC national or company follows the same procedures as Omani nationals and companies, outlined below:
NOTE: GCC countries are exempt certain restrictions, most notably and specifically:
USA companies benefit from the FTA by having the same privileges as GCC Nationals and companies, as outlined below:
NOTE: USA companies (due to the Free Trade Agreement (FTA) between Oman and the USA) are exempt certain restrictions, most notably and specifically:
All other processes and pre-requisites outlined in this guide are the same as other international companies.