International investors can open companies in Oman in various business sectors, enjoying 100% foreign ownership. This article provides useful information about the popular business structures available in Oman, mentioning that our team is ready to assist in the registration process.
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Types of companies available in Oman
In Oman, you can opt for the following business entities:
- the limited liability company is the most popular business structure available in Oman. There is no need for a minimum share capital to be deposited;
- the joint stock company in Oman is also a great business choice for foreign investors and big projects. Businessmen can choose between a closed JSC or a public JSC;
- company owners from abroad can also establish branches in Oman. Having 100% ownership is a plus for foreign entrepreneurs;
- a single individual can choose a sole proprietorship in Oman if he/she wants to do business here in a simple manner;
- general and limited partnerships are also excellent business choices for overseas investors in Oman;
- holding companies in Oman allow owning shares in various enterprises/subsidiaries;
- a liaison office in Oman is optimal for entrepreneurs looking to test the market first, without developing economic activities.
Ready to open a company in Oman? These business entities are available for foreign entrepreneurs who want to develop their portfolio and business in this country. In addition, we are at your disposal with complete company formation services in Oman for a proper start on the market.
Taxation in Oman
When you want to set up a company in Oman, it is good to know the taxation system. Here are some of the most important ones:
- 15% is the standard corporate tax rate in Oman. A lower rate of 3% is applied to small businesses in Oman, under specific conditions;
- oil & gas companies in Oman are levied 55% on profits;
- 10% is the withholding tax imposed on dividends, royalties, interest, and management fees of foreign companies in Oman;
- 5% is the VAT rate in Oman;
- 5% is the personal income tax in Oman, applied to worldwide income beyond OMR 42,000 per year.
Considering the taxes imposed in Oman, you can properly make a financial plan for your business. But to make things simpler, we recommend that you work with our tax advisors.
Why is Oman an appealing business destination?
Oman is one of the most developed countries in the world. Foreign entrepreneurs who want to do business in this country can benefit from:
- 100% ownership in the company;
- modern infrastructure;
- great taxation and various incentives;
- a stable political & economic climate;
- a diversified economy and well-developed business sectors;
- up to 30 years of corporate tax exemption in Oman’s free trade zones;
- a wide range of business opportunities in sectors like manufacturing, renewable energy, technology, tourism, R&D, etc.;
- no taxation on import & export duties.
Are you ready for company incorporation in Oman? You can opt for the available entities we presented above and also contact our specialists for comprehensive details and personalized services.