Understand the Jurisdictions of the Company Registration Process in Oman

Register Company in OmanWhen a country’s government opens the country to foreign investments, it will begin to offer a win-win situation for itself and its investors. After all, a thriving economic condition puts smiles on almost everyone. So, we will lay down all details to register a company in Oman.

 

Business Legal Entity

There are four business legal entities available for foreigners to open a company. There is a limited liability company, branch office, limited partnership and representative office. A foreign investor’s most common business legal entity is the limited liability company. But of course, as you convey your business nature and concerns, your company incorporation experts will advise you on the suitable business legal entity, paid-up capital, corporate structure and business licenses, if any. An LLC is the easiest to register a company in Oman as it can incorporate a single shareholder.

 

Reserve the Company Name

Our company incorporation experts will help you to reserve your company name through the Commercial Registry at the Ministry of Commerce and Industry.

 

Submitting Documents To Register Company in Oman

Now that you have a company name preparing the related company documents is straightforward. The company’s papers include a draft of the Memorandum and Articles of Association, a business plan and other necessary incorporation documents. Be mindful that every document must be in Arabic. Even if you are fluent in the language, it is best to hire a legal translator to ensure understanding.

 

Company Registered

Once you have registered your company, you will receive a certificate of incorporation from the Registry. You can find the company registration number in the Certificate of Incorporation.

 

Register for Tax Purposes

Armed with company registration, you can now register the company with the Tax Department Oman’s Ministry of Finance. The corporate tax rate in Oman is 15%, but if you qualify as a small and medium-sized company, you could enjoy a lower tax rate of just 3%. You could be eligible if you meet the following criteria:

  • The authorized capital of OMR 50,000 and below
  • Total gross income less than OMR 100,000
  • Less than 15 employees
  • Business activities are OTHER THAN transport, extraction of natural resources, banking, insurance or financial services.

 

Registration With Other Mandatory Parties

After obtaining the necessary tax numbers, you must register with the local Royal Police, Muscat Municipality and Ministry of Manpower. Registration with these organisations is related to visa applications for foreign business owners and their employees. Visa application via online on the Royal Police website is now available. Ministry of Manpower will provide a labour permit for the business as deemed necessary. The process is in line with the government in speeding up business establishments in Oman.

 

Company Seal

All companies in Oman must have a company seal issued by the company’s authorized signatory. To obtain a company seal, you must obtain and submit a Chamber of Commerce Affiliate certificate, authorised signatory form and initial capital deposit certificate. A third-party supplier supplies a company seal. Your company incorporation expert will assist you every step of the way.

 

Corporate Bank Account

Opening a corporate bank account in Oman doesn’t require the directors and shareholders to be present. But, opening a corporate bank account will require different documents, depending on the business structure. If you need help to register a company in Oman, especially in opening a bank account, experts at 3ecpa will gladly help.

If you require assistance or consultation, please feel free to get in touch and we will promptly reply to you within 24 hours.

Register Company in Oman