Oman company registration

Oman company registration

DOING BUSINESS IN OMAN

Since 2003, Healy Consultants Group PLC has been efficiently and effectively assisting our Clients with i) Oman business registration ii) business licensing iii) Oman business banking solutions iv) visa options and staff recruitment strategies and v) workspace rent.

Summary70% LLC100% owned LLCFree zone companyBranch companyRepresentative officeCommercial Agency
Best use of company?General TradingStartup solutionExport hubGovernment projectsResearch and marketingGeneral Trading
Legally tax exempt if properly structured?NoNoYesNoYesNo
Corporate bank account location?Arab BankHSBCBank SoharAhli bankHSBCAhli bank
Client must travel to the Middle East?NoNoNoNoNoNo
Can secure trade finance?YesYesYesYesNoNo
Limited liability entity?YesYesYesNoNoYes
VAT payable on sales to local customersNoNoNoNoN/ANo
Withholding tax on payments to overseas shareholders?10%0%0%10%0%10%
Average total engagement costs?26,90029,20030,00031,80024,95029,200
Average total engagement period?14 weeks14 weeks12 weeks16 weeks15 weeks12 weeks
Accounting and tax considerations70% LLC100% owned LLCFree zone companyBranch companyRepresentative officeCommercial Agency
Statutory corporation tax payable?12%12%0%12%0%12%
Must file an annual tax return?YesYesYesYesYesYes
Effective corporation tax rate on net profits of US$250,000?12%12%0%12%0%12%
Must file annual financial statements?YesYesYesYesYesYes
Investment income is legally tax exempt in Oman?NoNoNoNoNoNo
Access to double taxation treaties?YesYesNoNoNoYes
Monthly VAT reporting to the Government?NoNoNoNoNoNo
Legally tax exempt entity?NoNoYesNoYesNo
Dividends received are legally tax exempt?NoNoNoNoNoNo
Company registration70% LLC100% owned LLCFree zone companyBranch companyRepresentative officeCommercial Agency
Resident director required?NoNoNoNoNoNo
Minimum number of shareholders?221Parent companyParent companyNo
Minimum number of directors?11100No
Minimum paid up share capital?US$390,000US$52,000US$1NoneNoneNone
Shelf companies available?YesYesYesNoNoNo
Time to incorporate a new entity?6 weeks6 weeks4 weeks6 weeks5 weeks4 weeks
Can easily convert to a local PLC company?YesYesNoNoNoNo
Can have preference shareholders?YesYesNoNoNoNo
Business considerations70% LLC100% owned LLCFree zone companyBranch companyRepresentative officeCommercial Agency
Can invoice local customers?YesYesNoYesNoYes
Can hire local staff?YesYesYesYesYesYes
Can rent local office space?YesYesYesYesYesYes
Secures a residence visa for business owner?YesYesYesYesYesYes
Good entity for trademark registration?YesYesYesNoNoNo
Other useful information70% LLC100% owned LLCFree zone companyBranch companyRepresentative officeCommercial Agency

Oman has signed free trade agreements?Yes
This country is a member of WIPO and TRIPS?Yes
The country is a member of the ICSID?Yes
Average customs duties suffered?5%
Government foreign investment approval is required?Yes
Average monthly office rental? (US$ per sq m)US$10
Minimum statutory monthly salary?US$600
Average monthly US$ salary for local employees?US$4,000
OMR deposit interest rate? (1 year average)1%
US$ deposit interest rate? (1 year average)0.8%
Overseas remittance currency controls?No
Public register of shareholders and directors?Yes
Banking considerations
Multi-currency bank accounts available?Yes
Corporate visa debit cards available?Yes
Quality of e-banking platform?Good
Crowd funding available in this country?Yes


Frequently asked questions

Contact us

For additional information on our business registration services in Oman, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Mr. Petar Chakarov, directly:
client relationship officer - Petar