Foreign companies may own up to 70% of the shares in an LLC (except for GCC or US shareholders, who can hold 100%), so it is a requirement to find a local Omani sponsor.
Bondoni is a specialist corporate sponsor provider and acts as your 30% minor shareholder/nominee. We will negotiate a Shareholders Agreement to give you the full management, financial, operational control and authority in return for a fixed annual fee.
As your local partner we provide professional corporate governance and genuine limited liability. (More detailed information outlined in “The International company formation guide").
There is a defined sequence which all companies should follow to become a fully operational and trading business.
Bondoni’s proven methodology makes the customer experience simple and efficient enabling you to commence trading as soon as possible.
Choosing the best local business partner for your newly established business is critical because unless you are familiar with Oman’s business community, the process can be extremely stressful, preoccupying and time-consuming. That is why Bondoni offers its clients exclusively bespoke business facilitation services to help speed up the company formation process.
With our pre-qualified partners, we can provide: (navigate to Choosing business partners Icon)
• Legal – Company registration, constitutive contracts and shareholders agreements
• Financial – Bank opening process, tax and audit advice bookkeeping, debt collection
• Investment – local and government investors
• PRO services – working with the ministries, driving licenses, residential visas (as below??)
• HR strategy – Omanisation policies, recruitment, localising HR handbooks
• Notarisation and attestation – Qualifications, Registrar-Issued and Company Documents
• Market research – strategic, customer services etc.
• Marketing strategy – logo design, local websites, business cards and marketing collateral
• Contract tender consultancy – international tender experience with local knowledge of competitors
• Translation services – legal and professional documentation
• Printing services – in English and Arabic
|Requirements||Corporate Sponsor (LLC) with Bondoni||Corporate Sponsor LLC||Individual Sponsor|
|Full management and financial control||Yes||Sometimes||Sometimes|
|Financial and tax record||Yes||Sometimes||?|
|Business setup services process||Yes||Sometimes||No|
|Company formation timelines||Yes||?||?|
|Pre-qualified business advisers||Yes||Sometimes||Sometimes|
|Specialist Visa and PRO services for start ups||Yes||Sometimes||Sometimes|
|Dedicated Management services||Yes||?||No|
Every company in 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.
Bondoni’s partners offer reliable and experienced PROs who provide a deliverable and time-orientated service to speed up the company registration process.
Our 12-point process ensures that all our clients are professionally and operationally established within a fixed timeframe.
In our process, we complete the documentation requirements by connecting you with the exhaustive government network including:
• Chamber of Commerce
• Ministries such as Commerce and industry, Manpower and other ministries for specialist licences
• Real estate companies (conventional and serviced office providers)
• Finance (tax)
• Royal Oman Police (licences, customs clearances etc.)
Choosing a local sponsor for an LLC in Oman
Foreign companies on the mainland (except the GCC and the USA) require a local Omani sponsor who legally owns a minimum of 30% shares in your limited liability company (LLC).
You have the choice between an individual or corporate sponsor. And the chart below provides you with a breakdown of those choices:
As part of the company formation process, all foreign companies can open a company bank account after the newly formed LLC has been registered, leased a workplace with an address and has been certified by the municipality.
Although the bank opening procedures vary from bank to bank, the Oman banking industry standards are highly regulated and demand a great deal of paperwork, bureaucracy, notably notarised and attested (navigation to attested services.) documents etc. With Bondoni being highly respected by the banking community in Oman, we will work closely with you and the banks to simplify and speed up this complicated process.