Limited Liability Company (LLC) Formation in Oman
The features of Oman LLC Company are:
- Local and foreign investors can start the company enjoying Limited Liability
- A minimum of two shareholders is required, with at least one Omani National or GCC Citizen
- LLC company formation in Oman requires a minimum of 2 shareholders and a maximum of 40.
- A foreign shareholder can now own 100% of the company's shares.
- No paid-up minimum share capital.
LLC Company Formation in Oman
Oman is one of the top investment-friendly nations in the Middle East for entrepreneurs. It provides strategic locations that offer a growth-conducive and stable legal platform for business ventures.
Since Oman has a strategic geographic location and a robust and growing economy, it presents a business-friendly atmosphere. Oman has shifted its focus away from the oil-based economy. It is now diversifying the sectors of the economy. These are the reasons why entrepreneurs from all over the globe are interested in Oman for investments. Once the investor has decided to register a company in Oman, there are different types of company structures that he can choose based on the specific requirements.
Limited Liability Company (LLC) in Oman is the most common and preferred type of company. Each partner is liable to the extent of their share in the business. It has a faster incorporation process and relaxed share capital requirements.
Benefits of LLC in Oman
- Limited Liability Protection: Owners of an LLC enjoy limited liability, meaning their assets are protected from the company's debts and obligations.
- Tax Advantages: Oman provides a favourable tax environment for LLCs, including a flat corporate tax rate of 15%, which is competitive compared to other countries.
- Ease of Setup: The process for establishing an LLC in Oman is relatively straightforward, with fewer requirements compared to other business structures.
- 100% Foreign Ownership: Recent regulatory changes allow foreign investors to own 100% of their LLCs in many sectors without the need for a local partner.
- No Minimum Capital Requirement for Certain Sectors
- Business-Friendly Environment
- Access to Local and Regional Markets
How to open a Limited Liability Company in Oman
Oman LLC formation is a simple process. Below are the general steps for LLC company formation in Oman:
The initial step is to select a name of your company that is not the same or similar to an existing Omani company.
The next step is to select the business activities for the company. It will determine the license and permit required for the company.
To obtain a Commercial Registration Certificate from the Ministry of Commerce and Industry, you must submit a copy of your passport, proposed name, and business activity.
The MoA provides the company's details, including its purpose, structure, and share capital. You must draft, notarise, and then submit the MoA with the other required KYC documents to the Ministry of Commerce and Industry.
Depending on its business activity, an LLC in Oman may require additional permits or licenses. You can obtain a license from the concerned authorities or government agencies.
The company needs to register with the Tax Authorities to obtain a Tax number. The business must register for VAT if the LLC's annual revenue exceeds OMR 38,500 (USD 100,000).
Required documents for incorporation of LLC in Oman
- Copy of the passport or Identity card of the Directors/shareholders
- Copy of the passport or Identity card of all the proposed authorized signatories
- Authorized Signatory Form having the names and signature of each such signatory
- Company incorporation forms, which include constitutive contracts and Articles of Association
- License application, depending on the specific business activity of the company
- Proof of initial capital through bank statement
What our clients say
Gryffin Capitalist made the process of setting up my business in Oman seamless and stress-free. The team assisted me through every step of company registration.
Gryffin Capitalist made setting up our business in Oman a stress-free experience. They handled the paperwork and guided us step-by-step through Oman’s legal requirements.
Gryffin Capitalist made starting my business in Oman a seamless process. Their expertise in Oman laws ensured a smooth setup process. I recommend GC to anyone.
Why Choose Gryffin Capitalist?
Contacting an expert service provider for company formation in Oman is highly advisable. We at Gryffin Capitalist have long experience working with Omani Authorities and an in-depth understanding of the company formation process. We can assist you with LLC company formation and help you open a bank account in Oman.
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Frequently Asked Questions (FAQs)
The minimum capital required to form a Limited Liability Company (LLC) in Oman is OMR 150,000. An LLC company in Oman can have up to 50 members.
Oman's corporate tax rate is 15% for most businesses, with small companies taxed at 3% and petroleum-related income at 55%. Oman does not charge surtax.
A Limited Liability Company in Oman (LLC) has fewer formalities and regulations than an SAOC (Closed Joint Stock Company), which is better for structured ventures that require more regulation without being as formal as a public joint stock company.
Yes, you can register your company either in the Oman Free Zone or Mainland.
Yes, income earned in Oman is taxable in India if it accrues or arises outside India. However, it transferred to India during the financial year.
