Oman company registration

DOING BUSINESS IN OMAN IN 2020

pay fee by instalmentsbusiness setup without travel

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.

Compare different Oman entities100% Foreign Owned LLC70% Foreign Owned LLCFree zone companyBranch companyRepresentative officeCommercial Agency
Best use of company?General TradingConsultancyExport hubGovernment projectsResearch and marketingGeneral Trading
Legally tax exempt if properly structured?NoNoYesNoYesNo
Corporate bank account location?Arab BankHSBCBank SoharAhli bankHSBCAhli bank
Client must travel for incorporation?NoNoNoNoNoNo
Client must travel for bank account?YesYesYesYesYesYes
Can secure trade finance?YesYesYesYesNoNo
Limited liability entity?YesYesYesNoNoYes
VAT payable on sales to local customersIn 2021In 2021In 2021In 2021N/AIn 2021
Withholding tax on overseas shareholders' payment?0%0%0%0%0%0%
Average total engagement costs?US$26,040US$29,550US$29,800US$33,850US$27,450US$15,100
Average total engagement period?14 weeks14 weeks16 weeks16 weeks16 weeks12 weeks

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Accounting and tax considerations100% Foreign Owned LLC70% Foreign Owned LLCFree zone companyBranch companyRepresentative officeCommercial Agency
Statutory corporation tax payable?15%15%0%15%0%15%
Must file an annual tax return?YesYesYesYesYesYes
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
Dividends received are legally tax exempt?NoNoNoNoNoNo
Company registration100% Foreign Owned LLC70% Foreign Owned LLCFree zone companyBranch companyRepresentative officeCommercial Agency
Resident director required?NoNoNoNoNoNo
Minimum number of shareholders?111Parent companyParent companyNo
Minimum number of directors?11100No
Minimum paid up share capital?US$1US$1US$1NoneNoneNone
Oman PRO required?YesYesYesYesYesYes
Time to incorporate a new entity?4 weeks4 weeks4 weeks6 weeks5 weeks4 weeks
Can easily convert to a local PLC company?YesYesNoNoNoNo
Can have preference shareholders?YesYesNoNoNoNo
Business considerations100% Foreign Owned LLC70% Foreign Owned LLCFree zone companyBranch companyRepresentative officeCommercial Agency
Can invoice local customers?YesYesNoYesNoYes
Can hire local staff?YesYesYesYesYesYes
Can rent local office space?YesYesWithin Free ZoneYesYesYes
Secures a residence visa for business owner?YesYesYesYesYesYes
Good entity for trademark registration?YesYesYesNoNoNo

Oman has signed free trade agreements?Yes
This country is a member of WIPO?Yes
This country is a member of 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$18
Minimum statutory monthly salary?US$592
Average monthly US$ salary for local employees?US$4,622
Overseas remittance currency controls?No
Public register of shareholders and directors?Yes
Multi-currency bank accounts available?Yes
Corporate visa debit cards available?Yes
Online banking and bank support in English?Yes
Quality of e-banking platform?Good
Crowd funding available in this country?Yes

Frequently asked questions

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For additional information on our business registration services in Oman, please contact our in-house country expert, Mr. Petar Chakarov, directly:
client relationship officer - Petar
  • Mr. Petar Chakarov
  • Client Engagements Manager
  • Contact me!