Oman Glory Group is proud to have been operating in Oman for nearly a decade and is the only foreign company with Iranian citizenship at the Ministry of Trade and Industry of Oman – Muscat – providing company registration services in Oman and obtaining residency for Iranian citizens and foreign nationals.
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Start working with a fourth-rate company at a cost several times cheaper than others at the beginning, and when your business becomes profitable, simply upgrade it. From the beginning, don’t look for premium and expensive companies to register.
The latest rules of company registration in Oman, how to get residency in Oman through company registration?, how much does it cost to register a company in Oman? How long does it take to register a company? Why registering a company in Oman can be beneficial for me? What documents do I need to register the company?
Your journey as an entrepreneur is made up of many related ideas, thoughts and actions. Building a company requires considerable analysis, and the moment you choose the right area, you’re only halfway there.
Germinating a business idea in the most desirable country in the region, especially at the international level, can help you to advance the global competition with ease. For example, the Sultanate of Oman is an emerging country that is preferred by businessmen among Middle Eastern countries.
The huge trade of this country with other rich countries of the Persian Gulf such as Saudi Arabia, the United Arab Emirates, Qatar, Bahrain and North Africa, attracts the attention of international investors in the blink of an eye. Starting a business in Oman is one of the smartest decisions an investor can make, as it allows new companies to emerge and branch out.
However, before entering the main areas, I suggest you read 8 reasons to start a business in Oman, let’s look at the important and necessary points to understand more.
The Sultanate of Oman relies on oil sectors, which generate good income for the economy. However, in the global digitalization scenario, there are emerging opportunities that the Omani government is focusing on.
Business opportunities are expanding in Oman because it is one of the most dynamic and beneficial destinations for a freelancer or multi-millionaire. If you have a business idea but are looking for a better opportunity, now is the right time to take the first steps to form a company in Oman. Foreigners see the destination as an investment platform, which helps them to earn big profits.
In this article, we examine the advantages and disadvantages of registering a company in Oman. In addition, in 1403, Glory Group of Oman registers a company with only 189 rials.
The structure of the company can be considered as a skeleton that is decided at the initial stage of establishing the company, every business investor should choose a corporate structure depending on the availability of capital and the number of investors who are ready to invest. A business owner who wants to register a company in Oman can choose one of the following structures:
In the limited partnership method, a minimum of one person and a maximum of 5 people are required to register the company, the responsibility of the company is divided between people and one or more people are considered as signature owners.
A public company is a company whose capital is distributed to the public as shares. Shares of public companies in Oman can be bought and sold and exchanged through the stock market.
To start this type of company in Oman, the minimum required capital is about 150,000 Omani rials (about 390,000 dollars). We must also point out that no joint stock company can be registered and operate without the approval of the Ministry of Trade and Industry of Oman and the issuance of a valid license.
Another way to register a company is in the form of private shares. In this case, it is a company whose shares are not available for public trading and is for the exploitation of companies with private shares.
To register a private limited company in Oman with at least 3 shareholders. The minimum capital required to register and start this type of company is 50,000 Omani Rials, about 130,000 US dollars.
This type of company, which is also known as limited partnership in Oman, is established by 2 or more members. At least 1 general partner and 1 limited partner are required to register the company. The general partner is responsible for the debts and obligations of the partner without limitation in liability.
The second person or limited partner has less responsibility than the main person and can be responsible for the debt and obligations of the company only up to the amount of the capital they put in the company.
In the method of obtaining a commercial representative or agency in Oman, a company must be established whose purpose is to advertise, distribute products or services provided by a foreign company in Oman. The main use of these types of companies is the export of goods and services by a major foreign merchant to Oman.
A foreign company that wants to open an institution in Oman can have a branch in Oman and start its activities in this country. The established branch is required to obtain approval and license from the Ministry of Commerce and Industry of Oman (MOCI). Based on this, the branch of any company is not separate and independent from its parent company, so it becomes responsible for the activities and obligations it has undertaken. For more information, see the company branch registration in Oman.
It established representative offices only for market research or for advertisement and promotional purposes. It is not legal to carry out any business or business activity in Oman under the title of representative office. For more information, see the registration of the registration office in Oman.
Oman tax
Oman does not impose any sales or personal income tax on business owners and individuals
There are no customs duties for importing equipment and raw materials for production purposes
Eligible industrial concerns are exempted from corporate income tax for 5 years and this is renewable
Oman Free Zone offers full exemption from all corporate taxes for up to 10 years for businesses registered in the Free Zone
First income up to 78 thousand US dollars tax free
Our customers who want to register their own company can use other benefits
The possibility of receiving an interest-free loan
Availability of serviced land provided by the government for industrial units
Eligible industries can benefit from discounted services
First of all, an investor should choose a business structure based on the resources he has, such as the amount of available capital or the total number of shares.
The investor is faced with the following options:
I must say that the brand is like the face of the company. For example, if I talk about Coca-Cola or Digi-Kala. What comes to your mind subconsciously?
A bottle of coke and a shopping area, right? So, even though you are sitting here and reading this article, a mental image appeared to you quickly when these names came!
Choosing a brand name may seem simple, but in reality it is not that simple, first of all you have to make sure that your name is unique compared to your competitors in the market.
At the same time, you should make sure that the name you choose does not offend or harm anyone or a particular religion in different parts of the world!
Every business should be launched where it has the most customers. At the same time, it is necessary to ensure the correct flow of capital that investors should be able to in the initial stage. Oman has specific areas that can be focused on according to the relevant business budget.
Every business needs to do business transactions. And to have it, a commercial bank account is required
Well, you definitely need to research the bank and choose a bank to open an account that meets your business needs.
The company seal can be considered as a signature of a business entity, which is used on the letterhead. This is essential when dealing with company shareholders and protects business documents from forgery.
After completing the company registration process, some additional steps must be taken, some of which are important as follows.
1. Hiring the right talent in Oman
Business entities in Oman have the flexibility to recruit internationally, so you have the opportunity to attract global talent.
Before hiring, you should make sure that you understand the needs of the business, and map out the relevant departments. This will help you to move forward according to the relevant needs.
2. Completing visa procedures in Oman
When you have chosen the right people for your company.
It’s time to get work visa for employees and employer and investor visa for employer and investors.
3. Registration of employees in Oman
When your employees are added to the organization, they are confirmed as part of your business entity. which must be registered under the name of the company.
The steps mentioned in this article are the main pillars that must be controlled when registering a company.
One of the most appropriate and accessible ways is to work with experienced business professionals who can guide you to complete legal procedures easily.
Glory Oman Trading and Company Registration Group has the necessary and sufficient expertise to provide company registration services as quickly as possible without the need for your presence. To register a company in Oman, you can contact the group’s legal expert right now.
Company registration fee in Oman
Glory Oman Group registers the company at the lowest possible cost for you, you can contact the group’s legal expert right now.
The latest company registration rules in Oman in 2024
There is no need to print the account and no bad background
Only with passport copy
Duration of company registration in Oman
The company registration process by Glory Oman takes between one and two weeks!