Duqm Special Economic Zone
Duqm Special Economic Zone was operational in 2011 with the purpose of encouraging economic activity around the famous Duqm port and welcoming new foreign investment in Oman. The special economic zone is spread over an area of around 2,000 sq km and offers all the benefits similar to other special economic zones. The Special Economic Zone Authority Duqm (SEZAD), the leading authority overlooking the zone administration, also provides customized land areas to suit the scope of the projects.
Investors looking to register a business in Oman can explore business opportunities in sectors such as industrial manufacturing, oil refinery and storage, transport and logistics, real estate development, tourism and construction services, education and healthcare services, etc., in the Duqm special economic zone. However, the companies operating the freezone are mandatorily required to employ Omani citizens, who make up at least 10% of the total workforce.
Benefits of Company Registration in Duqm Special Economic Zone
The following are some of the benefits offered by the Duqm Special Economic Zone:
100% foreign ownership
Companies can enjoy tax exemptions for up to 30 years, which is renewable for an additional 30 years. It significantly reduces the company's operational costs.
No minimum Capital Requirements
No restrictions of foreign currency transactions
Complete repatriation of company profits to home country
Duqm's geographical position offers access to major shipping routes, facilitating trade with markets across the Middle East, South Asia, and East Africa.
Exemption from Income Tax
Business-friendly Environment
Steps to register a Company in Duqm Special Economic Zone
The investor should submit the Plot Application Form to the SEZAD authority confirming the intention to start a business along with the company incorporation form.
Applicants must submit all the required documents along with the application form for due diligence.
The SEZAD team completes the necessary due diligence. Authorities will provide initial approval to the applicant to establish a new business in the Duqm free zone. An agreement will be made with the authority confirming the terms of the lease and related fees, etc. No objection Certificate may need to be obtained by the Ministry of Climate. We must pay the agreed fees (equivalent to the first quarter of the lease)
After the approval and other formalities are over, the authority shall allocate a plot based on the requirements and agreed terms.
The applicant can initiate the setup of the business in Duqm and open a bank account in Oman to obtain other auxiliary services.
To register a company in the Duqm Special Economic Zone (SEZ), we need to follow the following steps
Documents required to start a business in Duqm Special Economic Zone
- A copy of the ID for the owner, partners, and founders.
- Memorandum and Articles of Association
- Business plan Summary
- Company Registration Certificate
- Signatures of the signatories
- No Objection Letter
- Letter from the parent company if registering a branch office.
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Why Choose Gryffin Capitalist?
Investors interested in setting up a business in the Duqm Special Economic Zone may face issues and delays when it comes to completing the paperwork and each step if they do not execute it properly. You should get in touch with an experienced consultant who can assist you in each step of the process.
Our team of company formation specialists at Gryffin Capitalist can help you with your incorporation process. Our years of experience assisting international clients in opening a company in Oman has streamlined our process omitting any possible delays and successfully registering the company in Oman Freezone.
Quality Professionalism
High Confidentiality
Strong belief in long-term client relationships
Competitive Market Pricing
Global Footprint
Efficient and Transparent Process
Best Freezones to choose to start your Company
Our business consultants have chosen freezones which are ideal for start-ups, business owners, and SME companies. These freezone provide a quick company registration process and a complete ecosystem for businesses.
Frequently Asked Questions (FAQs)
Special Economic Zone Authority Duqm(SEZAD) is the governing authority for the Duqm Special Economic Zones, which is responsible for issuing permits and land leases for companies.
The types of businesses that are ideal for operating in the Duqm Special Economic Zone are:
1) Import and Exports
2) Oil Refinery & Storage
3) Industrial Manufacturing
4) Warehouse and Logistics
5) Tourism and Resort
We can engage in these business activities in the Duqm Special Economic Zone:
1) Tourism
2) Fisheries
3) Logistics
4) Manufacturing
5) Petrochemicals
6) Renewable energy
Your Duqm free zone company setup costs will vary based on factors like your business structure, office space, etc. To get a clear idea about the cost of your business setup, you should get in touch with a competent company registration firm.
Yes, there are ongoing compliances a business has to take care of. Companies need to renew business licenses every year, comply with labor laws, and also maintain proper financial records.
