How to Setup a Business in Oman

Oman is a wise choice if you’re planning to start setting up a business. Its many qualities will only make your business cross extensive bridges. The country provides favourable grounds to build upon – such as its well-equipped infrastructure and guarantee of security. Business owners can access many international networks and can enjoy the privileges of being in a tax-free zone.

Like in any other Gulf Cooperation Council (GCC) states, one has to adhere to a set of rules and complete necessary formalities to begin the incorporation of a business, regardless of the size and nature of the business.

Here are the steps that need to be followed

Reserving a company name

In order to begin the process and reserve a name for the company, an application needs to be filled and submitted to the Ministry of Commerce and Industry (MCI), while adhering to the Omani Law.

Putting together Incorporation Documents

After reserving the company name and getting it approved, one needs to create the constitutive contract and shareholder documents. This process remains incomplete unless an authorized signatory form and bank certificate are not obtained and submitted to the MCI.

Registering with the Omani Chamber of Commerce and Industry
Registering with the OCCI ensures that the business will yield to all commercial terms necessary for a corporate in Oman.

Getting Governmental Departments Approval

Keeping in mind the type of business owned, one will have to follow several procedures for approval by the government departments.

• Tax registration
• Municipality licence
• Import/export licence, if required
• Industrial, environmental and other permits and licenses
• Registration with the Royal Oman Police
• Registration with the Ministry of Manpower, to file for labour clearances and visas

Getting a Company Seal

A company seal refers to a logo. Getting a logo designed means having something to represent it by. A logo should incorporate the voice of the company.

While all these steps need to be followed, the business owner needs several documents to register a company in Oman:

The business owner needs a company registration form, along with valid Ids of all the shareholders. Authorized signatory form needs to be produced with names and signatures, and it needs to be approved. Finally, the company statutes, OCCI affiliation certificate and the certificate proving the initial bank deposit as capital need to be kept in hand.

Black Swan Business Setup service can help you in End to End Company formation in Oman

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Originally posted 2021-09-29 04:25:05.