Knowledge Oasis Muscat
Are you considering launching a business or expanding operations in Oman? If yes, learning about the benefits of business setup in Knowledge Oasis Muscat can be beneficial.
Oman's leading technology park and business hub, Knowledge Oasis Muscat (KOM) is strategically located and offers a supportive ecosystem. Irrespective of whether you are planning a tech startup, small and medium-sized enterprise, or a multinational company, KOM is designed for innovation, collaboration, and sustainable growth. Read on to learn more about it in detail.
What is Knowledge Oasis Muscat (KOM)?
Knowledge Oasis Muscat is a government-backed technology park developed to foster entrepreneurship, innovation, and the knowledge economy in Oman. The special economic zone which functions as a free zone under the Sultanate’s free zones laws is situated near Sultan Qaboos University and Muscat International Airport. Providing modern infrastructure and a business-friendly environment tailored to technology-driven enterprises, it is often referred to as the ‘Silicon Valley of Oman’.
Why Setup a Company in Knowledge Oasis Muscat?
When we think of setting up a company, we look at possible reasons. This helps us gauge whether it aligns with the business goals and how it can impact the business.
Let us take a look at some of the reasons for setting up a company in Knowledge Oasis Muscat:
● Strategic Location - The free zone provides easy access to investors and neighbouring markets.
● Good Infrastructure - It offers a full spectrum of tech infrastructure like high-speed internet, co-working spaces and data centers to support business operations.
● Business-friendly Regulations - The streamlined company registration process and support from authorities makes entry into the Oman market easy.
● Innovation-driven Ecosystem - The SEZ hosts a mix of tech startups, accelerators and investors thereby fostering a culture of innovation and collaboration. Given this, business setup in KOM can be rewarding.
● Tax Incentives - Entrepreneurs can enjoy full ownership of the business established in specific sectors as well corporate tax exemptions and customs duty waivers. It however depends on the business sector and the availed license type.
Types of Licenses in Knowledge Oasis Market KOM
For setting up a business in Knowledge Oasis Market, you may be required to obtain one of the following licenses to conduct business in a smooth manner. Listed below are the Oman trade license types depending on the business activity:
| License Type | Business Activity |
|---|---|
| Commercial License | Trading and service activities |
| Professional License | Consultancy and specialized services |
| Industrial License | Manufacturing or production related activities |
Benefits of Company Formation in KOM
Some of the key benefits of setting up a business in Knowledge Oasis Muscat include the following:
Access to Skilled Workforce
Given the proximity of Knowledge Oasis Muscat KOM to the Sultan Qaboos University, companies can access skilled graduates and researchers to handle operations of the company.
Networking Opportunities
With the SEZ holding regular tech events, seminars, and industry, as an entrepreneur you can avail the opportunity to connect with mentors and peers.
Flexible Office Solutions
Knowledge Oasis Muscat offers multiple options when it comes to offices. It ranges from co-working spaces to fully furnished offices and build-to-suit facilities.
How to Setup a Company in Knowledge Oasis Muscat
The first step is to finalise the business activity which is to be conducted in the SEZ. As an entrepreneur you can choose any sector among information technology (IT), education, consultancy, and others.
Once the business activity is decided upon, you need to select a suitable legal form among options like Limited Liability Company (LLC), branch office, and sole proprietorship in Oman based on the business goals.
The next step is to file the application for business registration in KOM and submit all the necessary documents to the authorities. These include photocopies of the business plan, passport, MoA, and AoA among others.
Once the application is submitted, KOM authorities review it. Upon approval, you can apply for the relevant business license to start business operations in the SEZ.
Next, you need to choose an office space among available options in KOM and set up the business. You can finalise one among hot desks, co-working spaces, incubators, and private offices.
The last step is to open a business bank account in Oman to manage all business-related financial transactions. You can opt for a bank of your choice depending on the business goals and the kind of facilities needed.
Documents required to start a business in Knowledge Oasis Muscat
- A copy of the ID for the owner, partners, and shareholders
- Business plan Summary
- No Objection Letter
- Signatures of the designated personnel
- Memorandum and Articles of Association
- Company Registration Certificate of parent company for branch office
- Letter from the parent company if registering a branch office.
What our clients say
Gryffin Capitalist delivers exceptional service for hassle-free UAE freezone company formation. They offer step-by-step guidance, ensuring your business is operational quickly.
Setting up a freezone company in Dubai with Gryffin Capitalist is straightforward and efficient. The team provides expert guidance, ensuring compliance with all legal requirements.
Gryffin Capitalist simplifies Sharjah freezone company formation with its expert advisors and tailored services. They handled everything from documentation to licensing efficiently.
Why Gryffin Capitalist for Business Setup in KOM?
There is no denying that Knowledge Oasis Muscat (KOM) can be a fitting location when considering business setup in Oman. If you are looking to establish your presence in the Sultanate, KOM is one of the most innovative and opportunity-rich locations in the Middle East given the benefits.
Ready to launch your venture in KOM? Feel free to contact us. The experienced business setup experts of Gryffin Capitalist have helped numerous entrepreneurs and businesses to establish presence in Oman can make it a hassle-free experience. Reach out to us today to get a better understanding of the entire process of company registration in Oman and get started!
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Frequently Asked Questions (FAQs)
While it is primarily known as a technology park, Knowledge Oasis Muscat welcomes a wide range of industries and is designed to support innovation across multiple sectors..
Yes, in many cases, entrepreneurs and investors can enjoy full ownership of the business established in Knowledge Oasis Muscat, especially when the opted sector aligns with Oman’s Vision 2040 goals. It needs to be mentioned that regulations may vary depending on the chosen business activity.
Startups can benefit from a dedicated incubator program called ‘The Knowledge Mine’ (TKM). Under this program, you can enjoy mentorship, subsidized office space, seed funding opportunities, and access to a supportive innovation network.
Yes, it is possible if the business is already registered in Oman. However, it may require you to amend the trade license and register the business with KOM’s management.
Business registration in Knowledge Oasis Muscat can typically take 7 to 15 working days. It depends on factors like chosen business activity, type of business license required, and obtaining other necessary approvals from the authorities.
Businesses established in KOM are eligible for government incentives, tax benefits, and grants under Oman’s initiatives to attract foreign direct investment (FDI).
