Company Registration Service in Muscat Oman
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Company Registration Consultant in Oman
Oman is also called ‘Sultanate of Oman’. It is located strategically and is considered to be a growing business centre. Also it boasts of being among the developing GCC nations, as well as an established home for foreign expats providing plenty of business opportunities. There have been ongoing initiatives being taken by the Government of Oman to foster the nation’s progress. Hence, there have been taken multiple steps to provide foreign expats with more comfort with the objective to woo more foreign investors. In case, your plan is to diversify your existing business internationally, then Oman is definitely the location that you can count upon. Through this article, you can get a clear overview about why Oman should be your next investment destination. Given below are the various types of business structure which can be incorporated there.
Types of Business Entities in Oman
The location of Oman is well-suited for the following business structures:
Registration a Company in Oman
Doing business in Oman turns out to be a good opportunity for the foreign expats. There are several reasons to start a business in Oman. The ground provides the following benefits:
- A strategic business location
- Availability of natural resources
- Fast developing economy
- Government support to boost new business
- No personal tax
- Emerging business in the non-oil sector
How to set up business in Oman?
Business establishment process in Oman is similar to other GCC countries. There are few steps which need to be undertaken. Prior to going ahead with the concrete procedure, it will be a great idea to identify the basic requirements, which needs to be fulfilled first.
Prerequisites for Registering a Company in Oman
- Minimum 2 shareholders
- Minimum 1 Director (can be of any nationality)
- Registered Office Address
- Minimum Capital Requirement of OMR 150,000
Company Registration Procedure in Oman
Where the business entity is provided with a physical platform is stated to be the process of Company Formation. To begin with, there are few steps which are to be followed. Given below are the steps associated with incorporation and post incorporation procedure to be followed once the decision is made to establish business here in Oman.
Incorporation Process
Documentation
This is the initial stage where all the necessary documents need to be submitted to initiate the incorporation process. The essential documents required are:
Memorandum and Articles of AssociationShareholders’ Visas and PassportsTax Registration CertificateIdentity Card of ShareholdersCertificate of Initial DepositFiled Company Registration FormChamber of Commerce and Industry Affiliation Certificate
Capital Account Opening
Once the documents have been submitted, a capital account needs to be opened to deposit the initial incorporation fee.
Incorporation
This step involves the submission of the essentials:
- Legalized Opening Forms
- Municipality Approval
- Share Capital Certificate
Post-Incorporation Process
Apply for Visa
The next step after the incorporation process is to apply for visa services for all your employees. You can have a word with visa consultants to avail the visa services at a faster pace.
Employee Registration
The employees must be acknowledged as a part of the business entity and for that registration of the employees under the company name is mandatory.
Conversion of Bank Account
The business capital account needs to be converted to the current account so as to ease the business transactions successfully.
Our Business Setup Services in Oman
Business setup solution package that includes:
- Company Incorporation and Registration
- Local Sponsorship
- Public Relations Officer (PRO) Services
- Accounting and Bookkeeping
- Auditing
- Tax Consulting
- VAT Registration
- Intellectual Property Services