Oman Trade License
Trade License in Oman allows businesses to trade on generic products. We can assist you in getting your trade license in Oman.
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All business activities in Oman conducted by any entity, regardless of whether they set up a company in Oman or the free zones, require one or more trade licenses. Some regulated activities may require additional permits from specialist regulatory authorities and specific ministries. For example, banks and financial institutions require specialized approval from the Central Bank, media companies require special approval from the Ministry of Information, and manufacturing companies require specialized approval from the Ministry of Commerce and Industry.
Types of Oman Business Licenses
Mainland License
The Oman business license for entities set up in the mainland by the Directorate of Trade and Directorate of Industry. The three main types of licenses are as follows:
- Commercial license (valid for all kinds of trading)
- Industrial license (valid manufacturing or industrial)
- Professional license (valid for professions, services and artisans)
Freezone License
The Oman trade licenses for entities set up in any of the Oman freezones :
- General Trading License: It allows the business to import, export, distribute, and store items in Oman Freezones.
- Trading License: It allows the business to import, export, store and distribute the particular items specified in the license
- Industrial License: It allows importing raw materials, carrying out the manufacturing of specified products and exporting the finished products
- Service License: Allows the holder to carry out services specified on the license within the free zone
Benefits of Oman Trade License
- Tax Residency: All the local license holders can apply for Oman tax resident status as per the regulations.
- Local Tenders: Many government tenders are only open to businesses with Oman business licenses. You can bid for attractive tenders that will scale up your business. The government is responsible for a large proportion of the country's spending.
- Securing Your Business's Future: Many entrepreneurs start in free zones as they believe it is the only type of license that will give them full ownership. As per the revised laws, you can get complete ownership with a local license.
- Free Trade with the USA: Because of an existing special free trade agreement (FTA) between the US and Oman, trade between the countries is not subject to tariffs.
How to Obtain a Business License in Oman
The primary step to getting an Oman trade license is to decide the type of license required for the business activity you are undertaking. The license type will depend on the nature of the business sector.
The investor must complete the company registration in Oman with the Ministry of Commerce and Industry (MOCI) before applying for a license. The business registration process includes obtaining a commercial registration certificate and tax identification number.
To get a license, you have to apply with the MOCI. The application must include details of the business activity, a business plan, supporting documents (like tenancy or ownership proof of premises, financial statements), and the type of required license.
The concerned authorities review the trade license application once it is submitted. As per the business activity, you may need to get approvals from other government authorities or departments. If the authorities require additional information or documents at this stage, they may request them.
After the business license application is approved, the license will be issued. The license specifies the type of business activity the company can undertake, its validity, and any other restrictions or conditions.
The cost of an Oman trade license depends on the activity and nature of the business. It ranges from OMR 250 to OMR 3,000.
Required Documents for Oman Trade License
- Passport copies of all shareholders
- Proof of minimum capital
- Lease agreement for office space
- Completed trade license application form
- Certificate of business name reservation
- Partnership agreement
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?
We will engage a professional service provider to obtain a business license in Oman. At Gryffin Capitalist, we possess extensive experience with Omani authorities and a thorough knowledge of the process. We stand ready to help you acquire your trade license in Oman. Please reach out to us for further information and details.
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Frequently Asked Questions (FAQs)
Yes, you can amend your Oman business license after its issuance. However, amendment fees may apply, and additional documentation or specific requirements may be needed.
The process of company registration in Oman typically takes 2 to 4 weeks, depending on the accuracy and completeness of the submitted documents.
The Employment Law governs employment in Oman, issued under Sultani Decree No. 35/2003, which outlines the rights and obligations of employers and employees.
Oman's company rating system ranges from Grade 4 to Excellent, with Grade 4 companies limited to transactions of 20,000 Omani Rials.
Yes, Oman offers streamlined processes, tax benefits, and diverse opportunities under Vision 2040.
