Company Registration in Oman
Company Registration in Oman
Setting up a company is not easy in the Sultanate of Oman, but it does not need to be so complicated. You can easily register your company in Oman if appropriately instructed. Start and grow your business fast, hassle-free, on time and of superior quality with us in Oman.
We shall discuss with you how to incorporate a business company in Oman. Everything from law requirements to relevant documentation will be discussed in detail to ensure the fast opening of your company.
If you intend to incorporate your company in Oman, it is necessary first to specify its legal form. In Oman, there are five legal forms of business that you can choose from:
- Limited Liability Company (LLC)
- Joint Stock Company (SAOC)
- Closed Joint Stock Company (SAOG)
- Branch Office
- Representative Office
Requirements for Company Registration in Oman
- Business Activity: Know what the proposed company will do and ensure it is allowed by Oman law.
- Business Name: Select an unregistered name for the company in Oman.
- Legal Structure: Pick the legal structure for the business, such as a limited liability company or sole proprietorship, and document them accordingly.
- Share Capital: Figure out how much share capital will be needed by the company and send it to a local bank account.
- Office Space: A tenancy agreement or lease is needed to show proof of office space.
Types of Business Licenses in Oman
There are several types of business licenses in Oman, including:
- Commercial Registration: The first is the general license required by almost every type of business.
- Professional License: Businesses providing professional services, for example, accounting and legal, are necessary.
- Industrial License: Manufacturing and industrial businesses are mandated.
- Tourism License: Tourism-related businesses like hotels and travel agencies need this requirement.
Procedures for Company Registration in Oman
- Reserve the Company Name: Apply for a name reservation with the Ministry of Commerce and Industry.
- Obtain the Commercial Registration: Request the Ministry of Commerce and Industry to issue you a commercial registration certificate.
- Obtain the Municipality Approval: Get the permission of a local municipality to allow their location.
- Obtain Other Licenses: Another critical requirement is obtaining other essential licenses like professional/industrial ones.
- Register with the Chamber of Commerce: Get the business registered at the Local Chamber of Commerce.
- Open a Bank Account: Open a local bank account, and the share capital will be deposited therein.
We can take you through the company registration process in Oman for Quickbiz. We will also make sure that your business adheres to the laid-down standards in that regard.
Essential Post-Incorporation Processes for Companies in Oman
Following registration, several post-incorporation processes must be carried out to comply with local laws and regulations. Here are the critical post-incorporation processes:
- Obtaining a Commercial License: After the company registration, it has to get a commercial license from the Ministry of Commerce and Industry. Commercial activity in Oman requires a permit.
- Opening a Corporate Bank Account: For the company to be paid, it must open a commercial bank account in Oman.
- Registering for Taxation: To meet its tax obligation, the business should register with the Oman Tax Authority for tax purposes. This ranges from the issuance of Tax cards and VAT recording.
- Registering with the Public Authority for Social Insurance (PASI): The company must register with the PASI to obtain social insurance for its employees.
- Registering with the Labor Department: To meet its requirements for labour law, the company should register with the Department of Labor, obtain work permits, and register its employees.
- Registering with the Municipality: The company may be required to write in a particular place and get appropriate permits and licenses if it is locally based.
- Obtaining Necessary Visas: For the company to have visas for its employees, shareholders, and directors to live and operate in Oman.
- Complying with Accounting and Auditing Requirements: The company must also ensure its accounting records are up-to-date and prepare its financials by IFRS. The law also states that an appointed auditor should examine the statements and present them to the Ministry of Commerce and Industry.
However, it should be noted that these processes may differ even among various companies according to their types and operations. After incorporation, it would be wise to contract a professional service provider who will help observe all post-incorporation processes.
We are always ready to help you
Our 4-Step Process for Company Registration in Oman
For reliable and efficient Company Registration in Oman, our dedicated 24/7 hotline call services are at your disposal. Our experienced team is ready and available to provide round-the-clock support and expert guidance throughout the entire company registration process. Whether you have inquiries, need assistance with documentation, application submission, or post-registration requirements, we are here to ensure your needs are met.
What they are talking about
Quickbiz exceeded my expectations with their exceptional business setup services. They efficiently assisted me in starting my business in Oman, handling all the necessary paperwork and requirements seamlessly. Their expertise and professionalism were truly impressive, and I wholeheartedly recommend their services. I am excited about the prospect of working with Quickbiz again in the future
Quickbiz made setting up my business a fantastic experience. Their knowledgeable and efficient team made the process smooth and stress-free. They were always available to answer my questions, and I trusted their expertise. Highly recommend Quickbiz for anyone starting a business. Thank you Quickbiz Team
I cannot speak highly enough about Quickbiz Business Solutions. Their level of efficiency, honesty, professionalism, and hassle-free approach exceeded my expectations. I am incredibly satisfied with their services and plan to rely on them for all my business requirements in Oman. If you are seeking a reliable partner, I wholeheartedly recommend Quickbiz for a seamless and successful business journey
The basic requirements for company registration in Oman typically include:
- Minimum capital requirements (varies depending on the type of company)
- Identification documents of the shareholders and directors
- Lease agreement for a registered office
- Memorandum and Articles of Association
- Bank reference letters
- Initial approval from the relevant authorities
Registered companies in Oman are required to fulfill various ongoing compliance requirements, including:
- Annual financial statement audits
- Submitting annual tax returns
- Renewing trade licenses and permits
- Complying with labor and employment regulations
- Reporting changes in the company’s structure or ownership