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Freezone Company Formation in Oman

Freezone company formation in Oman refers to the process of establishing a business entity within one of the designated free zones in Oman. Free zones are special economic zones that offer various incentives and benefits to encourage foreign investment and facilitate business activities. There are reasons why you should choose Oman:

  • Favourable business environment
  • Streamlined procedure
  • Tax incentives

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Freezone Company Formation in Oman

Free Zones in Oman

Oman Freezone is a lucrative option for investors to setup there business in Freezone. These Freezones attracts lot of foreign investors to setup there businesses as there are Tax Exemption and 100% ownership.

Freezones in Oman are located in south-east coast of the Arabian peninsula, they enjoy strategic location as a shipping and trading center. There are four Freezones in Oman, each of the freezones has its own unique features and advantages.

Each of these freezone are sort of Special Economic Zone governed by its own specific rules and regulation. 

    The Process of Company Setup in Oman

    To set up a company in Oman, you would typically follow these general steps:

    Determine the business activity: Choose the business you want to do in Oman. Certain sectors may have specific requirements or restrictions. Therefore finalize the business activity according to the government rules and regulations.

    Choose a legal entity: Finalize the legal structure for your business suitable for the industry, such as a Limited Liability Company (LLC), branch office, joint stock company, etc.

    Reserved business name: Check the availability of your desired company name and reserve it with the MoCIIP.

    Draft the company's memorandum of association (MOA): Prepare the MOA, which outlines the company's activities, ownership structure, and governing regulations. It should be notarized and signed by all shareholders or partners.

    Obtain necessary approvals: Obtain any essential approvals or licenses from relevant government authorities or ministries based on your business activity.

    Submit application and documents: Submit the completed application form and the required documents to the MoCIIP. The documents typically include the MOA, proof of capital, identification documents of shareholders or partners, and other relevant paperwork.

    Pay registration fees: Pay the applicable fees as determined by the MoCIIP.

    Oman has four free zones designed to focus on different business industries. The free zones are as follows:

    Sohar Free Zone Oman:

    • 15% is the Omanization rate for 10 years from the company incorporation date
    • General trading business

    Salalah Free Zone Oman:

    • Chemical and material processing
    • Manufacturing
    • Logistics and distribution

    Duqm Special Economic Zone:

    • Largest Special Economic Zone in the Middle -east
    • 30-year income tax exemption
    • 25% is the Omanization rate 
    • Fishery industry

    Al Mazunah Free Zone:

    • Commercial sector
    • Assistance service sector
    • Light industrial sector

    Requirements for an LLC Formation in Oman

    • Shareholders: minimum 2 
    • Director: 1
    • Minimum Capital Requirements: 0
       
    The Required Documents for Oman Company Formation
    Business plan
    Business names
    Contact details of the investors
    Id proof of the shareholders and directors
    Electricity and water bill
    Projected cargo volume
    A No Objection Letter to the Ministry of Environment and Climate Affairs.

    Top Freezones for Company Incroporation

    Why Choose Gryffin Capitalist?

    Gryffin Capitalist has extensive experience assisting entrepreneurs and businesses in setting up companies in various jurisdictions. Our team of experts is well-versed in Oman's legal and regulatory frameworks. We provide tailored solutions to meet clients' needs.
     

    Quality Professionalism

    High Confidentiality

    Global Footprint

    Competitive Market Pricing

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    Frequently Asked Questions (FAQs)

    Ministry of Commerce, Industry, and Investment Promotion (MoCIIP).

    Omanisation is a policy that was started by the Omani government in 1988 that attempts to replace foreign workers with skilled Omani citizens. For a number of Oman's industries and businesses, specific quotas of Omani to international personnel have been put in place.