Oman is a country evolving its market for a broad spectrum of businesses. The government of Oman aims to develop its economy through a series of five-year plans under the umbrella framework known as Vision 2020. Investors around the world will benefit from this plan as it will widen their business outreach to Oman and the neighboring countries. There are many ways through which an investor can enter into the Omani market, one of them being through business setup in Oman. If an already established foreign company wants to enter Oman, then they can do so by setting up a branch office in the country.
A branch office is an offshoot of a foreign company. A foreign company that has entered into a contract with the government or the quasi-government entity is entitled to register and operate in Oman as a foreign branch. It is important to note that a branch period is limited to the period of the project which shall be sufficient for its execution in Oman, and accordingly it is not permitted to carry out any other type of work in the private sector.
The activities of a branch must be similar to the activities of its parent company and it is not permitted to carry out any other activity unless approved first by the parent company and registered with the Ministry of Commerce and Industry. The registration remains valid for the duration of the foreign company’s contract performance, subject to the granting of extensions of time. Any such extensions must also be registered in the Commercial register of the Ministry. The procedure to register your branch office in Oman is as follows:
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