Obtaining a residence card through company registration
Introducing the country of Oman
Oman is the third largest country in the Arabian Peninsula with entrepreneurship and foreign trade. Maritime trade has long existed in Oman and was used to connect with the coasts of Africa, Europe and China.
Before the discovery of oil and gas, Oman was primarily a rural and agricultural economy based on fisheries and agriculture. When oil was discovered in 1964, Oman gradually shifted from an agricultural and manufacturing economy based on oil, and oil exports dominated the state-owned stock exchange in Oman.
Under his visionary leadership, Oman has experienced rapid economic development while protecting its cultural heritage and has been a constant source of incentive for foreign investors to do business in Oman.
Although oil and gas reserves have rapidly boosted Oman’s economy, under the leadership of Sultan Qaboos, the country has implemented a forward-looking economic development plan focused on diversification and industrialization to reduce its dependence on oil and gas and invite foreigners to register companies. Actively performed in Oman
Benefits of company registration in Oman
Company registration and residence permit in this country is a good opportunity for foreign immigrants. There are many reasons to start a business in Oman and it offers many benefits and services. In the following, we mentioned some unique features and benefits of company registration in Oman:
- Strategic business location
- Availability of natural resources
- A developing and growing economy
- Government support to strengthen new jobs
- No personal tax
- Growing jobs in the non-oil sector
- Benefits of company registration in Oman
Immigration through investment is one of the main ways of obtaining residency in Oman and registering a company in Oman is one of the main ways of investing. Governments always consider special facilities to attract foreign investors and adopt flexible policies in this field, and in this case, registering a company in Oman has many advantages, which we will discuss further.
The Omani government’s support for foreign investment and company registration in Oman 2022, which is accompanied by a focus on privatization, industry and diversification.
Suitable and strategic geographical location for foreign investment
Economic and social facilities and capabilities with the development of tourism, real estate and business opportunities
Creating infrastructure for international tourism and developing our economy through tourism, creating advanced road transportation, developing health, treatment and hospital facilities.
Investment and company registration in Oman 2022, on other industries and businesses outside of oil and gas
Providing the necessary capital, reducing tax rates, granting easy loans and the benefits of special economic zones attract foreign investors.
Obtaining an accompanying visa for the immigration of first-class family members such as spouse and children is one of the other benefits of registering Iranian companies based in Oman.
By investing in Oman, applicants can achieve great profitability and use all the amenities of this country.
Immigration and investment residency in Oman is one of the most popular methods for immigrants. Investing in Oman and obtaining an investment visa in Oman is possible in various ways, in some of these methods it is possible to stay in Oman, and some are only investment methods in Oman, and in this way you cannot Obtain Oman residency.
In this article, we explain to you the rules of immigrating to Oman and the conditions for obtaining residency in Oman through investment. We also explain about the amount of income and cost of living in Oman so that you know whether or not you can immigrate to Oman according to the amount of income you get from investing in Oman.
How to register a company in Oman
The country of Oman, also known as the Sultanate of Oman, is a growing commercial center strategically located.
This country is one of the growing countries of the Persian Gulf, which has also become a home for foreign immigrants with many job opportunities.
Forming a company in Oman is not a simple process and having an expert by your side is very necessary. A specialist with this purpose as a strategic partner should be by your side to help you minimize the cost of registering a company in Oman’s free zones and make reasonable decisions through the knowledge of local regulations and important documentation processes in a timely manner. .
S1: Find a local partner
The Omani government has set a mandatory clause for foreign investors to acquire a local partner with a minimum 51% stake to start investing in Oman.
Here you need to find a reliable Omani partner and comprehensive company formation services to achieve your goals within the stipulated time frame.
S2: Company registration in Oman
The nature of the business and the sector you may have chosen to invest in may determine the regulations and requirements for starting a business in Oman.
According to the nature of your activity, you can register a service company, register a tourism company, register a construction and engineering company in Oman, etc.
S3: License registration
Since you need several approvals and permits at the start of the company registration process, you should complete your paperwork to obtain permits, approvals, and registrations as quickly as possible.
Prerequisites for company registration in Oman
Just like other GCC countries, the process of starting a business in Oman requires a multi-stage engagement that should be done accordingly. Before we move on to the concrete process, let’s take a look at the basic requirements.
At least 2 shareholders.
At least 1 manager (can be of any nationality).
Address of the registered office.
The minimum capital is 150,000 Oman Rials.
Stay with us to answer your questions about how to register a company in Oman.
Effective business factors in company registration
Oman is a member of the Arab League and part of the Persian Gulf Cooperation Council. Businesses are governed by the commercial laws of the Sultanate of Oman, which are similar in nature to other Middle Eastern countries.
In the last few decades, this country has adopted rational economic policies to attract foreign investments in a wide range of industries.
Although it may be attractive for foreign companies to invest in Oman in certain sectors, there are bureaucratic hurdles, including difficulties in obtaining visas and permits for foreign workers and the gap between the government and the private sector.
In particular, many international companies have to deal with Oman’s policy, which includes setting quotas for Omani nationals to be filled for most industries.
These factors should also be considered in the way of company registration in Oman:
Industry and type of jobs that will be done.
Nationality of person(s)
Presence of existing business agreements or relationships
Location of registered company in Oman
Location is another factor that should be considered in terms of company registration in the free zone. In individual cities and regions, new laws may be created each year, each with different rules, costs, and availability conditions.
Although Oman is a small country geographically, it is always recommended to seek help from relevant professionals such as business or legal advisors, accountants and others depending on your needs.
Types of company registration in Oman
- Limited liability company
- Establishment of branches in Oman
- business company
- Tourism company
- Commercial representative office
- service company
- Limited liability company
- Exclusive ownership of the premium company
- Branch office/representative office
Business language in Oman
Arabic is the official language used by the people of Oman. But English, Balochi, Urdu and some Indian dialects are also spoken, as well as sub-languages.
Therefore, if you are thinking of registering a company in Oman, you can choose to do business in English or Arabic.
Steps and method of company registration in Oman
Initial capital deposit in the bank and opening of capital account
After submitting the documents, a capital account must be opened to deposit the initial establishment fee. A company’s capital must be paid in full at the time of registration. The founding members must deposit the minimum required capital depending on the status of their foreign shareholders.
Business registration in the Ministry of Industry and Trade
This company must send a name for approval to the Ministry of Commerce and Industry that has not been used anywhere before. Company names with specific words like “Oman” require more initial capital, this is done online.
Documents required for company registration in Oman
In the terms and conditions of company registration in Oman, after checking the name, the application form and the following documents must be sent:
Copy of passport and visa or birth certificate of shareholders.
Copy of passport or identity card of all the signatories considered authorized.
Verification of the authorized signer form, with the name and sample signatures of each authorized signer produced.
Standard company registration forms, including articles of incorporation.
Applying for specific licenses depending on the company’s activities.
Initial capital deposit certificate from the bank.
memorandum and articles of association.
Tax registration certificate.
Initial deposit certificate.
The company registration form has been introduced.
Chamber of Commerce and Industry membership certificate.
When registering with the Ministry of Commerce and Industry (MOCI), the cost of registering a company in Oman varies depending on the company grade, from top grade to grade four in descending order of initial capital.
This company must also obtain the license by submitting the following documents to Muscat Municipality:
Company lease agreement
The company’s articles of association including memorandum and articles of association
Affiliation certificate of Chamber of Commerce and Industries
Agency permission if any
Company registration fee in Oman