Oman Free Zone Company Formation / Registration
COST - PACKAGE - OFFER - FEES - PROCESS
Oman Free Zone Setup Consultant
Oman Free Zone Company Formation : Investors have always found Free Zones provided in GCC countries to be lucrative enough to set up their business here. These zones definitely have played a crucial role to bring in international businesses to the different countries who are GCC members. Certain areas have been projected as tax-free zones. International investors have always found starting any business in the Sultanate of Oman to be the right decision due to the government offering free zones. In case, you have plans for business expansions in Oman, then Oman free zones are absolutely a wonderful choice to make. This guide can help you to have a better idea with regards to formation of company in the free zones of Oman.
Oman Industrial Free Zones
Four free zones have been developed by the Sultanate of Oman to focus upon growth and development of different business activities and segments. The zone is known to allow assembling & packaging, importing of raw materials, exporting finished products, processing, warehousing and storing products, etc. Based upon the supported business sectors, the free zones are categorized. It will be wise to choose a zone depending upon one’s business and industry needs. Oman boasts of having 4 free zones, namely:
Al Mazunah Free Trade Zone
Al Mazunah Free Trade Zone Located near Yemeni border and set up in 1999, Al Mazunah has become the Gulf Gateway for entering East African countries and Republic of Yemen. This zone can be considered to be an industrial, service and commercial sector hub
Salalah Free Trade Zone
Appropriate business solutions are offered by this free zone to those having expansion plans for their business in the Middle East, Asia, Africa and Southern Europe. Easy availability of infrastructure, utilities and low cost labor has only made this location to become a lucrative destination for businesses
Sohar Free Trade Zone
This Free Zone is actually deep sea port covering an area of 4,500 hectare. It currently attracts about US $26 Billion and is regarded to be among the world’s fastest developing ports. There are expectations of the port taking greater responsibility to manage the National Food Reserve of Oman
Duqm Special Economic Zone
It is perhaps projected to be one among the biggest economic zones of the future, covering an area of about 1,745 sq.km. It is into 8 sub-zones that this zone has been divided into to retain different types of investments like fisheries, tourism, dry-dock, sea port and industries, etc.
The guide further lets you to know the different types of benefits that can be derived by setting up a business in Oman
Some benefits derived with the establishment of a business in the Free Zones of Oman
- 100% investor ownership
- No minimum requirement of Share Capital
- For 10 year period, no corporate tax levied
- Import & export procedures not attracting any duty
- 5 years minimum lease
- Without requiring local agent, trade can easily begin within Oman
How business is to be set up in Free Zone of Oman?
It is necessary for the investor to follow the given below process for business incorporation in the Free Zones of Oman.
- Plot Application Form submission
- Commercial Terms Agreement
- No Objection letter submission to Environment & Climate Affairs Ministry
- Clear due diligence procedure
- Choose the desired plot and obtain approval for application
- Pay license, incorporation and lease fee
- Collect Incorporation Certificate
- Sign lease agreement
Necessary documents to establish business in the Free Zones of Oman
- Investors name long with country of origin
- Size of plot essential for business setup
- Capital Investment and Business Plan
- Total employment generation – A figurative representation
- Total water and electricity requirement
- Investor contact details
- Projected cargo volume
Necessary fees to establish a company in Oman Free Zone
Business Registration: OMR 1050 – 1,550
Logistics/Commercial License: OMR 385 (Annual)
Manufacturing/Industrial License: OMR 385 (Annual)
2 Year Visa: OMR 201
On summarizing all the above points, it can be stated that the Free Zones developed in the Sultanate of Oman are developing rapidly and offering business investors with an amazing platform to invest. Both startups and established can find huge potential in this location. Investors are also provided with the opportunity to enjoy business expansion into neighboring countries. For process initiation, the suggestion is to discuss the matter with a reputed business consultant having immense knowledge of the Omani business setup processes, legal rules & regulations. It does allow you to enjoy faster and hassle-free entity incorporation. Not knowing whom to make the approach? Why worry? We have you covered in every aspect!