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The country of Oman, an historical trade hub with many entry ports along its coast served as entrepot to Arabian Peninsula for spices and other goods from Asian countries. The Sultanate of Oman, with a renewed focus to develop its economy has formulated five-year plans under its flagship program ‘Vision 2020’ which opened doors to foreign businesses to be part of its economic growth. There are many ways in which the foreign companies can set up a business in Oman. Branch office in Oman can be the pathway for an already established foreign business to conduct business in Oman.

What is a Branch Office in Oman?

A Branch office is the extended arm of an already registered company and acts as an outlet of the company headquartered in a foreign country. The activity of branch office in Oman will be the same as that of the headquarters. Approval required from the company Head Quarters to do any activity.

Foreign companies can open branch office in Oman only when the foreign company enters into contract with a quasi-government or government entities. public company, a stock company that holds Government shares or with a company that was registered by a Royal Decree. However, the companies should note that the branch office in Oman will only be permitted till the execution of the project is complete. The branch office cannot conduct any non-permitted activities and engage with private sector companies.

All the documents of the parent company required to open a branch office in Oman must be notarized by the Embassy of Oman. A minimum 12% tax is applicable on a Oman branch office of a foreign company. Local agents are required to obtain licenses and sponsor the visas of the branch personnel.

Benefits of Branch office in Oman

The following are some of the benefits.

No Minimum paid-up capital requirement
Obtain Good will from Government deals
100% Foreign Ownership
Full Control for Parent Company
Documents required to open a branch office
Certificate of Incorporation/Registration of foreign parent company
Articles of Association & Memorandum of association of foreign parent company
Authorisation letter from the foreign parent company to the branch office
ID cards copies of the proposed caretaker manager /signatory representing the foreign company
Specimen signature certificates of the proposed caretaker/signatory representing the foreign company
Power of attorney in favour of the branch manager/caretaker from the foreign company
A signed copy of the agreement entered with Omani Government entity

Why Choose Gryffin Capitalist?

Oman offers great opportunities for foreign companies to expand their services. Foreigners looking to open a branch office in Oman to consider many factors to make sure to obtain approvals on time without delay. The process can be cumbersome if it is not executed correctly as it involves coordinating with multiple agencies. Any delay in approvals to open a branch office in Oman may impact the delivery of the project.

It is strongly advised to take assistance from the expert consultants to ensure the incorporation process is smooth and completed without delays. We at Gryffin Capitalist are a team of expert consultants with years of experience in company formation in Oman. Our advisors can help you to open a branch office in Oman by providing the right guidance. Contact us today to know more about company formation in Oman.

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