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 AgencyFast Solution
Best use of company?General TradingStartup solutionExport hubGovernment projectsResearch and marketingGeneral TradingQuick Startup
Legally tax exempt if properly structured?NoNoYesNoYesNoNo
Corporate bank account location?Arab BankHSBCBank SoharAhli bankHSBCAhli bankArab Bank
Client must travel to the Middle East?NoNoNoNoNoNoNo
Can secure trade finance?YesYesYesYesNoNoYes
Limited liability entity?YesYesYesNoNoYesYes
VAT payable on sales to local customersNoNoNoNoN/ANoNo
Withholding tax on payments to overseas shareholders?10%0%0%10%0%10%10%
Average total engagement costs?27,90029,20030,00031,80024,95029,20048,450
Average total engagement period?14 weeks14 weeks12 weeks16 weeks15 weeks12 weeks6 weeks

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Accounting and tax considerations70% LLC100% owned LLCFree zone companyBranch companyRepresentative officeCommercial AgencyFast Solution
Statutory corporation tax payable?12%12%0%12%0%12%12%
Must file an annual tax return?YesYesYesYesYesYesYes
Effective corporation tax rate on net profits of US$250,000?12%12%0%12%0%12%12%
Must file annual financial statements?YesYesYesYesYesYesYes
Investment income is legally tax exempt in Oman?NoNoNoNoNoNoNo
Access to double taxation treaties?YesYesNoNoNoYesYes
Monthly VAT reporting to the Government?NoNoNoNoNoNoNo
Legally tax exempt entity?NoNoYesNoYesNoNo
Dividends received are legally tax exempt?NoNoNoNoNoNoNo
Company registration70% LLC100% owned LLCFree zone companyBranch companyRepresentative officeCommercial AgencyFast Solution
Resident director required?NoNoNoNoNoNoNo
Minimum number of shareholders?221Parent companyParent companyNo2
Minimum number of directors?11100No1
Minimum paid up share capital?US$390,000US$52,000US$1NoneNoneNoneUS$52,000
Shelf companies available?YesYesYesNoNoNoYes
Time to incorporate a new entity?6 weeks6 weeks4 weeks6 weeks5 weeks4 weeks6 weeks
Can easily convert to a local PLC company?YesYesNoNoNoNoYes
Can have preference shareholders?YesYesNoNoNoNoYes
Business considerations70% LLC100% owned LLCFree zone companyBranch companyRepresentative officeCommercial AgencyFast Solution
Can invoice local customers?YesYesNoYesNoYesYes
Can hire local staff?YesYesYesYesYesYesYes
Can rent local office space?YesYesYesYesYesYesYes
Secures a residence visa for business owner?YesYesYesYesYesYesYes
Good entity for trademark registration?YesYesYesNoNoNoYes

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

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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