Oman, officially known as the Sultanate of Oman, holds a strategic position as a burgeoning hub for business. As the third-largest country in the Arabian Peninsula, Oman boasts a rich history of entrepreneurship and overseas trade that spans centuries. Its maritime routes have historically extended to the shores of Africa, Europe, and China, making it a vital player in global commerce. Venturing into the realm of company formation in Oman unveils a straightforward and efficient process, guided by a transparent regulatory framework and a commitment to facilitating business growth. As your company takes root in Oman, you'll gain access to a thriving market, brimming with potential customers and partners.

Manimama ensures a seamless company registration process in Oman. Trust us to provide expert guidance and support, so your business can thrive from day one in Oman. Start your journey with confidence, knowing you have the best team by your side.

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Legal Opinion about Oman as a Jurisdiction for Company Formation

Ganna Voievodina

Manimama

CEO

"Oman is an attractive option for company formation, especially for those seeking a stable political environment, an established legal system, a developed financial infrastructure and a business-friendly tax regime. However, careful consideration should be given to the jurisdiction's unique legal framework, regulatory environment and reputational factors. To determine whether Oman meets your specific needs and risk tolerance, you should consult with legal professionals. Manimama will be happy to assist you with any questions you may have".

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Our Packages

Our comprehensive packages simplify the process of setting up the perfect legal entity for your business whether you are a small start-up, a non-profit company, or an international company. Let us guide you through every step, ensuring your business begins on a solid foundation.

Incorporation

Obtaining a license
Company formation
Memorandum of Association
Establishment сard
Banking account

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Visa Issues

Investment visa
Business visa
Employment visa
Other types of residence

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Taxation and Accounting

Corporate tax registration
VAT registration
Tax reporting
Accounting

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Key Numbers about Incorporations

6 weeks

average term of company formation

аt least 2

shareholders in the company

аt least 1

director in the company

15%

corporate income tax (CIT) rate

0%

personal income tax (PIT) rate

5%

value-added tax (VAT) rate

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Set up Your Company in Oman in Several Steps

Step 1. Initial setup

Initiating a preliminary project assessment
Preparation and filing of the package of documents

Step 2. Company registration

Reservation of company name by filing an application with the Ministry of Commerce and Industry (MOCI)
Once the company name is approved, the shareholders' documents and constitution of the company along with the bank certificate and authorized person form must be submitted to MOCI
Opening of a capital account and initial incorporation fee into that account upon filing
Once you register with MOCI, you must register your business with Oman Chamber of Commerce and Industries to ensure that it complies with all applicable commercial rules

Step 3. Post registration process

Registration with Oman Police
Tax registration
Registration with the Public Authority of Social Insurance
Industrial, environmental, and other permits and licenses
Registration with the Ministry of Manpower
Municipality license
Import Export license as appropriate
Designing a company seal
Employee registration

Requirements for Company Formation in Oman

Before deciding to set up a new company in Oman, read the information below to understand the characteristics of a Limited Liability Company (LLC):

Shareholders: 2 shareholders (maximum of 40) where a foreign shareholder can have up to 70% of the shares in the company (except for any individual from the Gulf Cooperation Council (GCC) countries or the USA who can own 100% of the shareholding) and a resident shareholder - 30%.

Director: minimum of 1 director (can be of any nationality and be a shareholder).

Company secretary: a Saudi resident company secretary is required.

Minimum share capital: minimum required share capital to register a company with foreign shareholders is OMR 150,000 (~ €360,000) unless wholly owned by Oman citizens or GCC or Free trade Agreement nationals for whom the initial capital investment requirement is OMR 20,000 (~ €50,000).

Legal address: a company must have a registered office address.

Liability: shareholders’ liabilities are limited to their contributions to the share capital.

Accounting: annual return must be filed.

Taxes in Oman

Corporate income tax (CIT)

The basic CIT rate is 15%.

3% will be applicable if the taxpayer is an Omani corporate entity, has a registered share capital of OMR 50,000 (~ €120,000) or less, has annual revenue of OMR 100,000 (~ €240,000) or less.

Personal income tax (PIT)

There is no PIT in Oman.

Value-added tax (VAT)

The standard VAT rate is 5%.

Exempt supplies certain financial services, education services, local passenger transportation services, and renting of residential property etc.

Double taxation avoidance agreements in Oman: Belarus, Brunei, Canada, China, Croatia, France, Hungary, India, Iran, Italy, Japan, Korea, Lebanon, Mauritius, Moldova, Morocco, Netherlands, Pakistan, Portugal, Qatar, Russia, Seychelles, Singapore, Slovakia, South Africa, Spain, Switzerland, Syria, Thailand, Tunisia, Turkey, United Kingdom, Uzbekistan, Vietnam.

Start Your Company Formation Process with Manimama

There are numerous reasons why Manimama is the leading company formation agent in Oman:

Expertise in Regulations of Oman

1. Manimama has an in-depth understanding of the legal and regulatory framework of Oman.
2. Our team ensures all legal requirements are meticulously met for a seamless company formation process.

Local and International Experience

1. With extensive experience in both local and international markets, Manimama can cater to a diverse range of business needs.
2. Our expertise spans various industries, providing customized solutions for each client.

Efficient and Timely Service

1. We pride ourselves on our swift turnaround times, ensuring your company is registered promptly.
2. Our efficient processes minimize delays and get your business up and running quickly.

Client-Centric Approach

1. Manimama prioritizes customer satisfaction by offering personalized support and guidance.
2. Our dedicated team is always available to address any concerns and provide expert advice.

Robust Network of Local Partners

1. We have established strong relationships with local authorities, banks, and service providers.
2. This network ensures that your business receives the best possible support and resources.

Ongoing Compliance Support

1. We provide continuous support to ensure your business remains compliant with laws of Oman.
2. Our team keeps you updated on any regulatory changes that may impact your company.

Frequently Asked Questions

Why should I consider forming a company in Oman?

Oman offers a compelling environment for company formation, attracting businesses worldwide with its stable political environment; well-established legal system; sophisticated financial infrastructure; business-friendly tax regime; strategic location.
What are the most popular types of companies in Oman?

The most common types of companies in Oman are Limited Liability Company (LLC). A popular choice for foreign investors, offering limited liability to shareholders.
How long does it take to form a company in Oman?

The company formation process in Oman is generally efficient, with a standard timeline of 4-6 weeks for completing the registration. This can vary depending on the complexity of the business structure and the availability of government approvals.
Do I need a local director or shareholder in Oman?

No, there is no requirement for a local director or shareholder to form a company in Oman. You can appoint individuals or entities from anywhere in the world to these roles. However, it's advisable to consider hiring a local secretary to ensure compliance with local regulations.
How many shareholders are required for an Oman company?

A minimum of two shareholders are required to form a company in Oman.
What are the tax implications of forming a company in Oman?

Oman offers a territorial basis of taxation, meaning it only taxes profits derived from Oman sources. The corporate tax rate is currently set at 15%. Double tax treaties are in place with many countries to avoid double taxation on income earned in both jurisdictions.
What are the specific business activities suitable for company formation in Oman?

Oman's diverse economy offers a wide range of opportunities for businesses across various sectors. Some of the most promising areas for company formation include: oil and gas, tourism, logistics and transportation, construction and infrastructure, information and communication technology, renewable energy, manufacturing, education and healthcare, professional services.
What are the accounting and auditing requirements for companies in Oman?

Companies in Oman are required to maintain proper accounting records and file audited financial statements with the Ministry of Commerce and Industry (MOCI).

Semen Kaploushenko

KUNA, CBDO

"I loved how Manimama put our business needs first. Their client-focused approach made the whole process feel collaborative".

Vadym Grusha

Trustee Wallet, CEO

"Manimama was efficient and avoided unnecessary costs. I was impressed by their commitment to value".

Yuriy Soshenko

WhiteBit, CLO

"Manimama had the expertise to guide us confidently".

Manimama as the Best Solution for Your Company Formation in Oman

Choosing the right partner for company registration is crucial for a smooth and successful business launch. At Manimama, our legal experts specialize in navigating complex legal landscapes, providing holistic solutions tailored to your needs.

Comprehensive Legal Expertise
Since our inception, Manimama has been at the forefront of tackling intricate legal challenges with innovative and thorough solutions. Our team of dedicated lawyers evolves alongside our firm, reflecting our people-centric philosophy and commitment to excellence.
Results-Driven Approach
Manimama is a results-oriented law firm that offers an extensive array of legal services to both individuals and corporate entities. We pride ourselves on maintaining the highest standards of integrity and a "client-first" approach, leveraging our extensive skills and knowledge to achieve the best outcomes for our clients.
Global Presence and Local Expertise
Our journey began with the establishment of Manimama OU's first European office in Estonia, a country renowned for its progressive regulation of virtual currencies, international investments, fintech, and gambling sectors. Estonia’s favorable tax system and digital-friendly investment climate provided a robust foundation for our expansion.
Community Commitment
At Manimama, we believe in giving back to society and making a positive impact. Our commitment to social responsibility is integral to our operations, ensuring that we contribute to making the world a better place while helping our clients achieve their business goals.

By choosing our company formation service in Oman, you are partnering with a law firm that values integrity, expertise, and client satisfaction. Let us help you set up your company in Oman and pave the way for your business success.