Company Formation Services in Oman
Are you an emerging Omani entrepreneur, or a foreign investor, looking to start your business in Oman? You are at the right place, as we offer the complete set of services for Company Formation in Oman. The procedures, legal framework and the requirements to start a business in Oman are explained.
- We would be with you to register your company in Oman
- We would help you to look out and finalize a local Omani partner
- Our team would assist you to set-up your business in Oman accomplishing the subsequent requirements
- Our services include acquiring approvals from the authorities, licenses to operate various themes of businesses and registration for different taxes as well.
Oman is the country in the Gulf Region situated at the starting point of the Persian Gulf. Though oil exploration and exports of oil & gas have remained the backbone of the country’s economic growth; as the limitations of the oil reserves are realized, the government is encouraging investment in diversified non-oil sectors such as infrastructure development projects, mainly power sector, tourism and agriculture products such as the best quality dates as well.
We take pride to introduce ourselves as the ISO 9001-2000 certified service engaged in Public Relation officer or Mandoob Services with a strong presence in Middle East Region, India, UK and several other parts of the world since our establishment in 1998 with hundreds of satisfied clients all over.
Company Formation Steps in Oman
It is not an easy process to form a company in Oman and it is most essential to have an expert on your side. We serve the purpose of being with you as your strategic partner to help you through the knowledge of the local regulations and the crucial documentation process in time, charging most reasonable fees.
Finding a local partner
The government of Oman has set a mandatory clause for the foreign investors to get a local partner with a stake of not less than 51% to start a venture in Oman. We have deployed a team of experts that would assist you in finding a reliable Omani partner and comprehensive company formation services to meet your goals in the stipulated time frame.
The nature of your business and the sector you might have chosen to invest may determine the regulations and requirements for business set-up in Oman. We help you to choose the best option out of the legal frameworks for forming and registering your company striking a balance between your aspirations and business goals and the local regulations.
As you need to apply for several approvals and licenses to start your business in Oman; our company registration services would be meant to complete your documentation to acquire licenses, approvals and registrations as fast as possible.
Legal Structures of the company in Oman
We help you to Register a Company choosing the most suitable legal structure that suits your overall operations and the motto of setting up your business in Oman.
Limited Liability Company (LLC)
It is one of the most common form of business entities in Oman and is mostly preferred by a large group of population. The LLC form of Company has to be registered under the Ministry of Commerce & Industry (MOIC) and provides higher flexibility and efficiency in it’s services. Some of the peculiarities regarding starting an LLC Company in Oman are as follows
- The LLC form of business entity has complete freedom in carrying out a wide range of business activities.
- It is required to have a minimum two shareholders in order to start a company.
- The LLC form of business entity has less operating cost than other business entities
- It is free from any sort of individual taxes in Qatar and thereby has less setting up cost than other forms of business entities.
To set-up a foreign business as a branch in Oman, with the complete 100% ownership, it is mandatory to enter into a contract with a government or government-controlled entity. No any local partner or share would be required and the parent company can have the complete control of this type of business in Oman.
The branch office can continue the same business activities in Oman as like the parent company for a predetermined contract period depending upon the length of project in Oman.
It would be essential to enter into a contract with an Omani national, a trading company in Oman or an Omani merchant for a government contract or a government related project. Registration with the Ministry of Commerce & Industry and affiliation with the Omani Chamber of Commerce are mandatory as well.
Any commercial dispute between the agent and the principal would be subject to the Arbitration by the concerned Omani Authority for settlement of Commercial Disputes.
Representative Trade Offices
The concerned regulations under the Representative Office Regulatory Law govern this type of business. The parent company needs to enter into a contract mentioning the activities such as production or the services. This type of business can only promote its business in the Omani region.
Various restrictions need to be followed by the Representative trade office, including the inability to take or render a credit. An authorized manager has to be appointed to take care of the routine operations. We assist you to acquire the basic documents to form this type of a business in Oman such as:
- Certified copy of the Commercial Registration Certificate
- Certified copy of Article of Association
- Letter of undertaking
General Partnership Company
This is the type of business, two or more persons enter into a contract or agreement to start a business and they would be held liable for the obligations to the full extent of their personal wealth. The partnership deed mentioning all the parameters needs to be registered under the Commercial Register.
The name of the partnership firm must include name of at least one member and al the partners would be required to perform as per their predetermined roles in the company. The General Partnership Company would come to an end when some of the partner or partners would leave the company, or someone is added in the firm as a partner. Similarly, as the term of partnership expires, the company would be dissolved.
Limited Partnership Company
This type of business involves the General Partners that take care of the routine operations and the Limited Partners that invest the capital to form the business as well. A minimum of two and any number of maximum partners can form this type of company.
These types of companies need to be registered under the Commercial register. The General partners would be liable for the full extent of their personal property and the Limited Partners would be liable for their capital investment in the firm.
The Holding Company would be intended to have commercial and operational control over the subsidiary companies having not less than 51% of share in them. It is mandatory to mention the company’s name as ‘Holding Company’ in all the official documents. The Holding Company in Oman, the Holding Company needs to have a capital investment of not less than two Million Oman Riyals.
The Holding Company can manage the subsidiary companies and hold the patent, trademark and rights of the subsidiary companies as well. The Holding Company can render credit to the subsidiary companies as well as an investment.
Shareholding Company or Joint Stock Company
In this type of formation, a fixed capital is distributed among a fixed number of shares. The minimum share value should be One Oman Riyal with a minimum capital value of not less than OMR 500, 000/- for the companies that don’t offer their shares to the public subscription. (Mentioning SAOC at the end of the name of the company would be mandatory).
In case if the company desired to offer their shares to the public subscription; the capital amount should be not less than or two Millions. (Mentioning SAOG at the end of the name would be mandatory). Total 40% of the share can be sold to the third party as shares.
These are some important requirements to form a Share Holding Company in Oman:
- Working under Muscat Securities Market Law
- Registration under Commercial Register
- Approval for incorporation with ministry of Commerce & Industry
- More than 3 Shareholders; minimum 3 and maximum of 12 members of Board of Directors
- The powers provided to the directors need to be mentioned in the contract and the directors would be liable to the company and the shareholders
Two or more entities can join hands to form a Joint Venture in Oman with a common objective and there would not be any registration required. The legal relationship is formed between the entities without affecting the interests of the third party. The Joint Ventures would be dissolved as the objective would be met, or the project in Oman would be over.
Get in touch with Gulfline Group today to take your goals further.
Gulfline Group has been fortunate enough to have an efficient team that provides the necessary guidance and services regarding company formation in Oman and has helped various entrepreneurs and businessman in fulfilling their aspirations.