Oman provides a favourable environment for business incorporation, attracting entrepreneurs with its strategic location and stable political. Common options include sole proprietorship, partnership, Limited Liability Company (LLC) and Joint-Stock Company. The LLC is a popular choice for small to medium-sized enterprises due to its flexibility and limited liability features.
Once the legal structure is determined, the next step is to register the business with the Ministry of Commerce and Industry. This involves submitting the necessary documents, such as the company's articles of association, proof of capital, and any required permits or licenses. The government encourages foreign investment, and the process has been streamlined to facilitate efficient business setup.
Foreign investors are often required to have a local partner or sponsor, who must hold at least 30% of the company's shares. This partnership is crucial for navigating local regulations and building relationships within the business community. Additionally, obtaining a no-objection certificate from the local municipality is typically a prerequisite for obtaining a commercial license.
Businesses in Oman benefit from a tax-friendly environment, with a corporate tax rate of 15% on profits exceeding OMR 30,000. The government has implemented economic diversification initiatives to reduce dependence on oil, opening up opportunities in sectors such as tourism, logistics, and manufacturing.
Gryffin Capitalist takes great pride in helping investors just like you take their business to the next level. Our goal is to calm your fears. Thus, give us a call, and we'll begin collaborating on your dream project.