100% foreign ownership of companies in Oman in 2024

  • Summary

    • In January 2020 a new Foreign Investment Law (FIL) came into effect in Oman allowing foreigners to setup and wholly own Omani LLCs for widespread commercial activities in the country;
    • Previously, 100% foreign ownership was exclusively reserved for i) nationals of other GCC states ii) US citizens or US-owned companies under the 2009 Oman-USA Free Trade Agreement iii) foreign companies setting up a businesses with a minimum investment of OMR500,000 ( approximately US$1.3 million) or iv) foreign entrepreneurs restricted to trade from within an Omani Free Zone;
    • The new FIL eases the regulatory requirements for foreign investments in Oman by:
      • Removing the mandatory requirement for a 30% Omani, GCC or US national partner;
      • Allowing LLCs to be registered by a single shareholder (one-person company LLC);
      • No longer requiring a minimum paid up share capital for LLCs. This was previously OMR150,000 (US$390,000);
      • Substantially reducing business activities closed to foreign investment.
    • Pending a ministerial decision on a clear legal regulatory framework, we expect the Oman Ministry of Commerce and Industry (MOCI) to approve foreign shareholdings in new LLCs on a case-by-case basis;
    • Healy Consultants Group will assist our Clients secure pre-approval from MOCI to ascertain 100% ownership of their intended business activity in the country.
  • Oman negative investment list

    The following activities are closed to foreign investment in Oman:

    1. Services of photocopying and typing of documents
    2. Translation and interpretation activities
    3. Transactions clearance
    4. Tailoring of Arabic menswear (menswear tailoring shops)
    5. Tailoring of non-Arab menswear
    6. Tailoring of Arabic and non-Arab women’s clothes
    7. Tailoring of sportswear
    8. Tailoring of military uniforms
    9. Manufacture of Omani kimmah
    10. Manufacture of women’s Abaia (gown)
    11. Electrical repairs of motor vehicle and recharging of batteries
    12. Repair and clean of vehicle radiators
    13. Wheel balance
    14. Service stations of washing and lubrication of motor vehicle
    15. Change oils of motor vehicle
    16. Repair of motor vehicle air conditioner
    17. Repair of exhaust sound for motor vehicle
    18. Washing and polishing of motor vehicle
    19. Tyre and tube repair
    20. Transport and sale of drinking water
    21. Labour recruitment offices
    22. Employment placement offices
    23. Driving training
    24. Laundering of all kinds of clothing (including fur) and textiles
    25. Ironing of clothing
    26. Laundry steam (dry wash)
    27. Hair trimming and cutting, hairdressing, shaving and beard trimming for men
    28. Hairdressing and other beauty treatment for women
    29. Hair trimming and cutting, hairdressing for children
    30. Taxi operation
    31. Marine fishing
    32. Freshwater fish fishing
    33. Education for handicapped
    34. Homes for the elderly
    35. Orphanages
    36. Rehabilitation centres
    37. Specialized rehabilitation centres
  • Healy Consultants Group fees

    The average Healy Consultants Group fees to set up a One-Person LLC Company under the new FIL amount to US$38,119. These fees include i) LLC company formation with a sole shareholder ii) assistance to locate a physical office premises or engage a local P O Box service iii) registration with the Tax Authority and iv) multi-currency bank account opening (without travel) with a top tier bank.

    View invoice PDF

Contact us

For additional information on our foreign owner company setup services in Oman, please contact our in-house country expert, Mr. Petar Chakarov, directly:
client relationship officer - Petar
  • Mr. Petar Chakarov
  • Sales & Business Development Manager
  • Contact me!