Located in the Dhofar region in the south-west of Oman, Al Mazunah Free Trade Zone, one amongst the 4 free zones in Oman, was launched to attract investors who are majorly into trading, light industry, and assistant service sectors. It was established in the year 1999, and Al Mazunah has recently seen bustling activity, commanding much more international investor attention than in the past years. Unlike the rest of the Oman, where 30% of the employees must be of Omani nationals, any company in Al Mazunah can hire only 10% locals. Another added advantage for a Yemeni citizen working in the Al Mazunah Free Zone is that they do not require work permits to work in this free zone.
Benefits of Setting Up a Company in Al Mazunah
- 100% foreign ownership is available
- First 30 years of tax-free operations
- No minimum share capital requirements for a business in the free zone
- Zero custom duties on exports and imports
- Fast track custom handling and process
- No tax on personal income
How to Set Up a Company in Al Mazunah?
There are several options available while setting up a business in Oman. It generally depends on the size of the business and individual needs of the parties involved. The incorporation process can be complicated in Oman and it is important that you get it right from the start. A business will need a significant amount of key documentation in order to establish. But in the case of setting up a business in the free trade zone, the steps, as well as the documents, are comparatively less. Here’s a guide on how to incorporate a business in Al Mazunah free trade zone.
- Submit an online application form by filling all the necessary details. You will find the application form on the official website of Al Mazunah free trade zone
- After you’ve submitted the application, the free zone officials will review the same
- If the application is accepted, the next step is to register at the Chamber of Commerce in Al Mazunah
- Once the necessary documents are submitted to register your company at the Chamber of Commerce, you have to complete a tenancy agreement for the lease of a land plot
- The next important step is to register at the Municipality and get the certificate. The documents required for the same are as follows:
- Detailed business plan or proposed activities of the business
- Letter of Intent
- Company profile
- Company’s latest annual financial report or audited report if available
- Commercial registration document
- Initial Industrial approval (industry)
- Initial environmental approval (industry)
- Chamber of Commerce membership certification
- Business feasibility study
- Production sketch (industry)
- Any other relevant information to support the application, e.g., referral letters
- Subsequently, you can register your company at the Ministries
- The last and the important step is the issuance of your free zone license. Under this step too, you have to submit all the mentioned documents and after a proper review you will be provided with the appropriate license
After following all these steps, you shall be ready to incorporate your company in Al Mazunah free trade zone.
Facilities Provided in Al Mazunah Free Trade Zone
Investors can benefit from the following facilities which are specific to Al Mazunah Free Zone:
- A well-connected communication system
- A comprehensive and high standard of veterinary & agricultural isolation facility, for inspection of all consumables
- Supporting service offices in the free zone for smooth and fast communication
- Provided with qualified industrial safety & security to the free zone
- Issuing state of origin certificate (including free zone products), or foreign product, by the free zone administration
- Free zone factories will be issued National Certificate of Origin (CO) to their products
- Provision of free zone staff with official residency cards and re-entry exit visas to non-Omanis
- Allow the operating company to establish a Representing Office inside the Omani customs region
- A company can be registered according to the applicable Omani Commercial Registration Law
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