The Sultanate of Oman holds a strong position among the Arabian countries in the Middle East region. Therefore, business investors and owners find Oman's economy one perfect destination to incorporate their business.
With its capital Muscat, Oman is considered to be amongst the most developed nations that have successfully levelled itself in the eyes of the investors.
With the increase in business and overall development, the Omani government has taken numerous steps towards transforming the nation into a business-friendly hub.
Right from different business structures to the exemption of personal income tax, the Sultanate holds a range of comprehensive benefits.
So, what are you waiting for?
If you are planning to start a business in Oman, then this guide is the perfect platform for you to begin with. By the end of this article, you will get a clear picture of the core advantages of incorporating one.
A Booming Economy
The Sultanate of Oman is one of the prosperous countries that enjoys an economic freedom index. Although it is one of the world’s biggest oil-producing countries yet, it holds a space for other business industries to come forward and explore the opportunities.
Presence of Multiple Business Structures
The Sultanate of Oman is an open ground for different business structures that allows foreign investors to come forward and start their dream business.
A few of the most favourable business structures in Oman include:
- One-person company
- Limited liability company
- Free zone company
- Joint-stock company
- Holding company
- Limited partnership
- General partnership
- Joint venture
Here’s a guide on the Corporate Structures in Oman which will give you a better idea.
An International Business Hub
The Sultanate of Oman is an international gateway for business investors to enter the Middleeast region.
It is considered a prime location at a distance of fewer than 2 hours from the central business centres of Asia, Europe, and North America.
The Sultanate is considered a gateway to the Arabian Gulf, a perfect meeting place for the Asian and African continents, paving the way for many financial business opportunities.
Global Talent Pool
With a population of almost 4.3 million, 1.7 million are working employees. Additionally, the Sultanate of Oman allows business investors to hire global talent and make them a part of their business.
Business Friendly Regulations
Another benefit that Oman provides to the investors is the business-friendly regulations that make it a desired business establishment platform.
Oman has various trade agreements that help the nations to have free trade with multiple countries. A few of them include GCC, GAFTA, FTA with the United States, Singapore, Iceland, Norway and Switzerland.
Multiple Tax Exemptions
Many exemptions are available for entrepreneurs who want to start a business in Oman.
There are exemptions from corporate income tax on the first OMR 30,000 and complete exemption from corporate tax up to 50 years for free zone registered companies.
Here’s a guide on Filing a Corporate Tax in Oman where you’ll get a better idea of the same.
Oman business setup is a simplified process that can be quickly done with the help of professional experts.
The core parameters that one should keep in mind before investing are:
- Be clear regarding your business idea
- Make sure to do a market research
- Be ready with the documentation process
- Map out the respective doubts you hold
- Prepare a roadmap of the activities to be performed
By looking at the range of the advantages mentioned above, we can say that Oman has spread its wings in the field of different businesses.
So, what are you waiting for?
Are you planning for a company set up in Oman?
If yes, then we are here to assist you.
Business Setup Worldwide is one of the top business consultants that has helped numerous business investors to come forward and incorporate their business.
Since its inception, our experts have been helping business investors overcome the hurdles they face during company incorporation.
Right from company incorporation to opening a bank account, we take care of the entire process. To understand the same in detail, get in touch with our experts today-we’d be glad to assist!