Company registration in Oman
establishing a company in a suitable region requires research and investigation, of course, you have just passed the halfway by establishing a company! Setting up your business in one of the most desirable and best locations in the region will help you compete with global competitors. Oman is a pristine country that is very popular among businessmen in Middle Eastern countries.
The country’s massive trade with other wealthy Gulf states such as Saudi Arabia, the United Arab Emirates, Qatar, Bahrain and North Africa has attracted the attention of international investors.
Setting up a business in Oman can be one of the smartest decisions an investor can make. In this country, new and emerging companies will be allowed to develop and expand their branches.
There may be different reasons for registering a company in Oman. However, according to the surveys conducted by our dear customers, some points have been taken into consideration for this matter:
- They are disappointed with the business environment in Iran and intend to make a new beginning. They hope to try their luck again in a new environment.
- They have previously resided in other countries, tasted the loneliness and hardship of migrating to another country, and after careful considerations, they chose Oman. They have a good experience to succeed.
- They intend to buy a property or … The value of their assets should be preserved and they plan for their future and that of their children.
- They are looking for a peaceful country for their retirement years, and although they don’t need to work, they may also want to start a business. Oman is the best decision to continue their lives.
- Oman is an intermediary country for exports and imports. They have successful companies in Iran and intend to move their business to this region due to the problems that other countries have created for them.
- They intend to immigrate to Europe and know that registering a company and residing in Oman will facilitate this process.
Oman is one of the most dynamic countries in the Persian Gulf. This country has experienced rapid and significant growth in the field of economy, which has caused it to perform better than other Arab countries economically and financially. Although the country used to be heavily dependent on its oil revenues in the past, oil revenues have gradually given way to other investments.
Benefits
- Oman’s Resilient Economy: Oman is regarded as a country experiencing rapid growth. The country has liberalized its markets and created business opportunities for foreign investors. It all comes down to your intelligence and ingenuity in using these services.
- Oman’s strategic location: Oman is located in an important region of maritime transportation geography. Through Iran to Asia, there are land borders with all the countries of the Persian Gulf, and from the south with Africa, and permanent shipping lines with the United States and Europe.
- Modern Infrastructure: The pace of infrastructure development in Oman is amazing. The rapid development of large ports, the launch of shipping lines, the development of road transportation, the launch of quality airlines, etc. are constantly reducing the risk of investing in this country.
- There is no need to print of the account bank and criminal records.
- There is no need to block funds or make financial deposits.
- Only a copy of the passport is required.
Due to the great reduction in the cost of company registration, people who want to establish a business and intend to register a company, can receive a 20-day residency in the shortest possible time, create an international account and a corporate account, and have financial transactions with the whole world. People who wish to be employed by a company and obtain Omani residency can obtain a two-year residency permit with the approval of the employer. The cost and procedures of performing the residency will be borne by the employer.
- To register a company in Oman, you need to stay in Oman for at least one day. The company registration price costs 7500 Omani Rials.
- Registering a company in Oman with 100% ownership without the need for an Omani partner has become possible for all foreigners, especially Iranians, who see Oman as a gateway to enter global trade.
- Registering a company in Oman has no prerequisites.
- No bank deposit is required to register the company.
- It can be done in the shortest possible time.
- The age of the applicant for the registration of a sole proprietorship must be (18) years old.
- Reserve a brand name for the company
- A copy of the passport of the partner or partners
In the following, we will explain the company registration process in Oman step by step, and above all, we guarantee our readiness to register your company with the minimum cost.
1. Registering a brand name is the first step to register a company in Oman
Choosing a brand name is the first step and this name should not be repeated and approved by the Ministry of Commerce. The clout of your company is its brand and your customers will have a mentality after hearing this brand. In addition, you should make sure that the name you choose does not offend a particular person or religion!
- The brand name must be in Arabic and in accordance with the general customs and traditions of Oman.
- It should not be already registered with the Ministry of Commerce of Oman. Companies/institutions whose wealth is 500,000 Omani Rials or higher can use the word (Oman or Omani) in their name.
- The names of rivers and famous cities and places of Arab countries can be used.
- Names of distinguished personalities based on expertise (Ibn al-Nafis, Ibn Haytham) and… can be used.
- If the investor has a son/daughter, the brand name can have the title (Abu {son’s or daughter’s name}).
- The English translation of your Arabic name can be repetitive.
Trademark restrictions
- It is not possible to register another brand by adding another brand name. For example: Eastern Star Company cannot be registered if the name of Eastern Star exists.
- The names of non-Arabic cities and towns are not allowed. You cannot write the eastern dream of Tehran
- Names of Arab or foreign countries such as Lebanon, Saudi Arabia, etc. are not allowed. The term mother or daughter is not allowed in the brand name.
- The personal name of the foreign investor or partner is not allowed in the business name, unless it is the name of a company registered abroad. (Foreign investment)
- It is not permissible to add (al) to the name of tribes.
- The names of minor partners are not allowed except in limited liability companies.
- Proper nouns are only allowed if they refer to the name of the investor.
- All natural or legal individuals can submit their application.
2. Select the type of company
You must choose one of the structures listed below
| Types of companies in Oman | Types of companies in Oman |
Limited partnership company (General Partnership) | Limited liability company (recommended for all foreigners) Limited Partnership |
Limited liability company (LLC) | Corporation (Joint Stock Company) |
| Holding Companies | Branches of foreign companies (Branch Office) |
Representative company (Representative Companies) | Joint venture company (Joint Venture) |
3. Determining the partners and signing the meeting minutes
In the third stage, the partners are determined and if there is one person, the company can be registered. In the final stage, the minutes are signed.
4. Submission of minutes and passport to the Ministry of Commerce of Oman
In order for the company’s registration to be approved, the minutes of the meeting together with the passport of the owner or the members of the company are delivered to the Ministry of Commerce of Oman.
5. Obtaining municipal clearance, lease agreement and other required permits
You can refer to the municipality and royal police regarding the municipality clearance and lease contract according to the type of activity.
6. Applying for a visa
After completing the company registration process, you can apply for a visa.
7. Receive the company’s seal
The company’s seal is considered a signature of a business entity and is used on the letterhead. This is essential when dealing with company shareholders and protects business documents from forgery.
8. opening a bank account
Every business needs to do business transactions. For these transactions, a business bank account is required, which requires research about the bank. To open a bank account, you must choose the one that meets your business needs.
9. The most appropriate and accessible way
The most appropriate way is to cooperate with professional and experienced business professionals who have the ability to guide to carry out and pass legal procedures easily. Oman Registration Group has the necessary and sufficient expertise to provide company registration services as quickly as possible without your presence. To register a company in Oman, you can contact the legal expert of HM Group in Seoul or Oman office.