Oman has always been an ideal location for an individual to invest and earn profits out of it. When it comes to business setup in Oman, it is always a necessity for anyone to comply with the laws governing foreign business activity, in particular, the Foreign Capital Investment Law. There are several options available for an investor looking to make a presence in Oman through a business. The most appropriate entity will generally depend on the size of the business, the parties involved, and the desired shareholder base for the business.
A Limited Liability Company (LLC) is the most popular form of business incorporation in Oman. Here, each partner is liable only to the extent of his share in the business. Under an LLC company in Oman, public subscription for raising capital is not permitted. The LLC structure suits a small operation with a limited number of promoters.
An Omani LLC is the most commonly used business entity for foreigners that wish to do business in Oman for various trading and manufacturing business activities. To start a business in Oman, you will be required to go through a process as set by the Omani authorities. The Oman company registration process is as follows:
The Ministry of Commerce and Industry (MCI) will approve the name for your company. You must keep in mind that, under Omani law, a new company cannot have the same name as the existing company. The MCI also requires a higher starting share capital for companies with certain words, such as “Oman”, in their name.
This involves preparing and submitting the following documents:
This is the most important step in the registration process and is obtained immediately after the MCI completes the registration examination of your company and approves the certificate.
Approvals depending on the LLC’s intended business activities, further governmental approvals may be required.
Once the LLC registration is approved, and you get all the necessary Certificates from the Ministry, you will then need to organize and obtain:
We at Business Setup Worldwide are here to help you get started with your business in Oman. Our advisors in Oman have experience and expertise and can advise you on the suitable company type taking into account the laws of Oman and your unique business needs. We understand the legal framework required for an LLC company formation in Oman and make this process hassle-free. Contact us for more information.