سلطنة عُمان
Sultanate of Oman
The hand of the diligent brings wealth
Oman is a safe haven – a friend to all. It offers political stability, a consistent foreign policy and excellent trade and investment opportunities.
Business Setup in Oman
Oman
Investment Destination of Choice
- Oman is a monarchy, led by His Majesty Sultan Haitham Bin Tariq. It’s capital is Muscat.
- It has a population of 5.21 mln- 2.96 mln Omani nationals and 2.25 mln expatriates.
- 2024 state budget ~ OMR 7.49 bln from oil and gas revenues~68% of total revenues.
- The country’s credit rating is BB+(S&P), Ba1 (Moody’s) , and BB+(Fitch). In 2019, Oman was ranked 53rd in the World Economic Forum Global Competitiveness Index, 68th in the Ease of Doing Business Index, and aims to be in the top 10 countries in the Ease of Doing Business Index by 2040.
Accord Consulting is a group of experienced business advisors who offer corporate, accounting, and bookkeeping services. We are available 24/7 to help our clients with customized services. Our goal is to improve your business operations through our tailored corporate and accounting services.
- 100% Owned Company in Oman
- Residences for You+Family (chld.<24)
- 4 Empl. Work Permits in/out Oman
- CR,Tax and Chamber of Commerse Certificates
- Investment License
The Residence Permit Process Time 10 - 15 business days for investors, wokers, dependands
Taxation
in Oman
- Income & Capital Gains Tax: 0%
- Inharitance Tax: 0%
- Corporate Tax :
3-15%
- VAT: 5%, 0 % on Export of Services
Residence Permit
IQAMA
Investor Residency
for All Partners
4 Work Permits
Work Permits can be increased if company got good workload.
Investor Work Visa Cost
1 year: OMR 500
2 years: OMR 750
2 years Dependent: OMR 250
This cost will include Visa + Medical (also Transport for medical) Bio-metrics, OMR 60 will be the immigration fee for transferring from visit visa
Residence Permit Renewal Cost
Renewing residencies in Oman costs OMR 500 for one year and OMR 750 for two years. Each dependent costs OMR 250. Renewal can be done quickly in Oman without any minimum stay requirement. Being in Oman during renewal is necessary, but there are no entry or exit requirements.
Company Formation in 2025
The legal system is primarily based on Royal Decrees, supplemented by secondary legislation in the form of Ministerial Decisions.
- STEP 01
Right Type
Company
Foreign entities can set up operations in Oman through Limited Liability Company (LLC), Single Person Company (SPC), JSC (private, min. sh. cap. OMR 0.5m or public min. sh. cap. OMR 2m), Branch, Com. Ag./Rep. Office.
- STEP 02
Name & MOA
Trade Name Reservation: Apply with the Ministry of Commerce, Industry, and Investment Promotion (MCIIP).
Prepare MOA: Draft and notarize the Memorandum of Association (MOA).
- STEP 03
Approval &
Submission
Obtain Approvals: Get approvals from relevant authorities based on your activity.
Register with MCIIP: Submit documents (MOA, passport copies, lease agreement, etc.).
- STEP 04
Account & Registration
Open a Bank Account, Deposit minimum capital (if required).
Receive Commercial Registration (CR) Issued by MCIIP.
Registration of a Lease Agreement
- STEP 05
Taxes & Visas
Register with Oman Tax Authority (OTA).
Register with the Oman Chamber of Commerce and Industry (OCCI)
Register with the Ministry of Labour for hiring employees, Visas
Sultanate of Oman.
Investor Residency Program 2025
Your qualifying investment portfolio can include one of the following options, or a combination totaling 200,000 OMR
- Spouse (up to 4 wives if the main applicant is male)
- Unmarried male children up to the age of 25, unmarried daughters (no age limit), and divorced daughters with custody (court documentation required)
- No age limit for children of determination (POD - Persons of Determination)
- Dependent father and mother of the main applicant and spouse (first married spouse only)
- Dependent siblings of the main applicant or spouse, provided they are fully dependent and under 25 (proof of dependency or disability required). No age limit for unmarried female siblings
- Up to 4 domestic workers - Up to 2 private chauffeurs
- Minimum net worth of 200,000 OMR
- No Criminal record
- No deportations
- Age 21 years old and above
- Pensioners can reside without any work history in the Sultanate of Oman
- Retired individuals, ages 55‐ 75 with a pension or a fixed income of 2,000 OMR from outside the Sultanate of
- Oman, are eligible to qualify for residency in the Sultanate of Oman.
- Talented Individuals: Innovators, artists, exceptional students, medical professionals, specialized scientists,
- pioneers of humanitarian work, influencers, and pilots are also eligible to qualify for residency in the Sultanate
- of Oman.
- Profile Approval must be obtained from the ministry
- Residents from outside/ inside the Sultanate of Oman can opt for long-term residency.
- Hassle-free renewal every 10 years ensured with mandatory investment holding.
- Streamlined airport immigration and passport control at dedicated or national airports for both arrival and departure.
- Comprehensive inclusion of dependents:
- Contact Us to initiate your investor visa process, KYC
- Once you decide to proceed, pay the required processing and government fees. After that, you can begin preparing the necessary documents. Upon approval from the Ministry of Commerce, your documents are forwarded to the Royal Oman Police for further review and clearance. If successful, you will receive essential Police Clearance from the Royal Oman Police.
- Upon approval from the Ministry of Commerce, your documents are forwarded to the Royal Oman Police for further review and clearance. If successful, you will receive essential Police Clearance from the Royal Oman Police.
- After obtaining Police Clearance, you have 60 to 90 days to complete your investment process. Submit proof of investment and other documents to Migrate World for Ministry of Commerce approval. You might need to open a bank account based on your investment choice.
- Accord Consulting will arrange your mandatory medical examination at government-approved clinics and hospitals in the Sultanate of Oman, ensuring the process is smooth and efficient.
- Upon completing the previous steps, including the submission of proof of investment, you become an official investor in Oman. This enables you to apply for the 10-year Investor Visa and national ID card.
- Passport Copies: Valid for at least 6 months (for all applicants)
- Proof of citizenship(s)/ National ID: If applicable (for all applicants)
- Driving License: If applicable (for all applicants)
- Residency Cards/ Identification Card: Any valid residency card, globally (if applicable) (for all applicants)
- Birth Certificates: Certified and translated into Arabic; certified true copy from a lawyer or notary (for all
- applicants)
- Marriage / Divorce Certificate: Certified and translated into Arabic; certified true copy from a lawyer or notary.
- Family Book: If applicable.
- Custody Certificates: If divorced, certified, and translated into Arabic.
- Bank Statement: Last 12 months.
- Police Clearance: Less than 6 months old (for all applicants, 21 years old and above)
- University Diploma: If applicable.
- Passport Photos: 4.3 cm x 5.5 cm
- Employment Proof: Letter from the Employer or Certificate of Registration (CR) if self-employed.
- Personal Information (for all applicants):
- Date and place of birth.
- Occupation.
- Citizenship/s (Multiple citizenships must be disclosed if applicable)
- Country of residence.
- Home and work address.
Oman has >105 agreements with countries around the world
Gulf Cooperation Council, Jan 2003
Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE
US-Oman FTA , Jan 2009
Oman, USA
GCC – Singapore FTA, Sep 2013
Bahrain, Kuwait, Oman, Qatar, Saudi Arabia,
UAE, Singapore
Greater Arab, Jan 1998
Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Qatar, Saudi Arabia, Sudan, Syria, Tunisia, UAE, Yemen
United States – Oman FTA, Jan 2009
Oman, USA
GCC - European Free Trade Association FTA,
June 2009
Iceland, Liechtenstein, Norway, Switzerland, Oman, Kuwait, Saudi Arabia, Qatar, UAE, Bahrain
Avoidance of Double Taxation Agreement
Oman currently has 34 effective double taxation treaties (comprehensive and limited) with
other countries/territories to prevent double taxation and allow cooperation between Oman
and overseas tax authorities in enforcing their respective tax laws.
Oman’s network of effective double tax
treaties currently include tax treaties with
Algeria, Belarus, Brunei Darussalam,
Canada, China, Croatia, France, Hungary, India, Iran, Italy, Japan, S. Korea, Lebanese, Mauritius, Moldova,
Morocco, Netherlands,cPakistan, Portuguese
Seychelles, Singapore, South Africa, Sudan, Switzerland, Syria, Spain, Thailand, Tunisia, Turkey, UK, Uzbekistan, Vietnam, Yemen. Uzbekistan, UK, Ukraine, Turkey, Yemen, Tunisia, Switzerland, Kingdom of Sweden, Sudan, Singapore, Pakistan, Netherlands, Morocco, Lebanon, Korea, Jordan, Japan, Iran, Germany, France, Finland, Egypt, China, Bulgaria, Belarus, Austria and Republic of Algeria.
Local trade boosts investment, protects goods and services, encourages capital movement, diversifies national income sources, strengthens trade partnerships, and supports development goals by enhancing commercial activity, income sources, investment effectiveness, and import-export volumes.
• Residency Certificate: Obtain from Oman’s Tax Authority or the partner country’s authority to prove residency.
• Tax Credit/Exemption: File Form 67 (for India) or equivalent in other countries; apply for lower WHT at source.
• MAP: Initiate via competent authorities (Oman’s: Tax Authority Chairman) for disputes.
• Guidance: Oman’s Tax Authority provides a summary of WHT rates under treaties and MAP guidelines (available on taxoman.gov.om).
For specific advice, consult a tax professional or Oman’s Tax Authority, as treaties may be amended (e.g., via MLI).
Oman Vision 2040
Launched in January 2021 by order of His Majesty the Sultan, this progressive development strategy repositions our national competitiveness around six themes
Knowledge
& Skills
- Knowledge for innovation and sustainable development
- A skilled and flexible workforce
Infrastructure
& Education
- World-class infrastructure and transport services
- An education system responsive to the needs of a Low Carbon Economy
Regulatory
& Public
- A regulatory framework led by informed and entrepreneurial-minded civil servants
- Public services that support the growth of Oman’s business community
Legislation 2025
Oman’s legislative structure is bicameral, consisting of two chambers, the State Council (Majlis al-Dawla) and
the Consultative Assembly (Majlis al-Shura)
The investor can obtain 100% ownership.
The role of the Investment Services Centre (ISC) in the Ministry: The ISC aims to develop the business environment and facilitate the establishment of various types of investment projects.
It is responsible for registering foreign investors and simplifying procedures for obtaining licenses, approvals and permits for international investors.
It shall not be permitted for competent bodies to revoke the approval, license, or permit issued for an investment project except by a reasoned decision after warning the foreign investor in writing of the offence committed, considering their response, and providing a period that does not exceed 30 (thirty) days from the date of warning to remove the reasons for the offence. In all cases the opinion of the Ministry of Commerce, Industry & Investment Promotion must be sought prior to revoking the approval, license, or permit. It shall not be permitted to confiscate any investment project except with a judicial decision, nor impound its assets, freeze them, or hold them in custody or under guardianship except with a judicial decision. It is not permitted to expropriate an investment project except for public benefit in accordance with the Law on Expropriation for Public Interest, and in return for fair compensation to be quantified at the time of expropriation. The foreign investor has the freedom to carry out all transfers relating to the investment project from/to outside Oman at any time. The investor may transfer the ownership of the investment project in whole or in part to another investor.
Through the Public Private Partnership Law, the government seeks to encourage investment and the initiatives of the private sector in improving the framework of public-private partnerships in Oman, which are found more common in the form of projects for independent energy and water as well as independent energy projects. The Ministry of Finance is responsible for preparing, evaluating, negotiating and tendering for partnership projects between the public and private sector, in consultation with the relevant ministry which will retain full responsibility for managing projects. In addition to that, in case of dispute, developers are provided with the means to appeal against decisions related to the tender process, granting the project or implementation of the project, which provides greater transparency. The Public Private Partnership Law grants investors the opportunity to submit the idea of a partnership project to the relevant authorities in the form of an initial feasibility study consistent with the Sultanate’s strategy and development plan so that it has an economic or social return. The respective authority may accept or reject the idea; however, if rejected, the decision must be justified. The details of submitting the application and other procedures will be defined by the laws and regulations in force. This article provides an opportunity for the public to propose economic ideas and initiatives that can benefit Oman and help achieve greater public-private partnership.
The new Bankruptcy Law covers the mechanisms, controls and procedures of restructuring, helping the debtor merchant exit from the state of financial and administrative distress to pay off debts in line with a restructuring plan. The law also makes clear the way creditors obtain their rights.
The Commercial Companies Law seeks to simplify procedures and encourage local and foreign investment. It applies to commercial companies whose headquarters is in Oman or which carry out their main activity in the Sultanate. The law includes articles that keep pace with the current economic situation and regulate the establishment and work of various types of companies by simplifying procedures for investors through creating the appropriate environment, providing the protection for investors and the commercial companies in accordance with the relevant standards and procedures. In order to create a framework for greater investment flexibility, the law allows for the first time the establishment of a one-person company.
The Privatization Law is designed to implement governmental policies for the transfer of ownership or the management of a public project (governmental facilities and buildings) or state-owned companies, in whole or in part, to a person in order to: Promote investment and attract specialized expertise. Raise the efficiency of resource operation and develop the quality of services. Development of the capital market.
The Corporate Income Tax Law seeks to tax worldwide income of entities formed in Oman and the Oman-source income of branches and other forms of permanent establishments. The rate of income tax is uniform for all types of business entities, regardless of whether it is a corporate entity and/or whether it is registered or not. The income tax rate is 15% for all taxpayers other than Omani proprietorships (‘establishments’) and limited liability companies (LLCs) that fulfil the conditions of small and medium enterprises. For Omani proprietorships (‘establishments’) and LLCs that meet the following requirements: Registered capital does not exceed RO50,000 at the beginning of the tax year Gross income does not exceed RO100,000 for any tax year Average number of employees during the tax year does not exceed 15 Taxpayer activities do not include air/sea transport; extraction of natural resources; banking, insurance, or financial services; public utility concessions; or other activities to be decided by the Minister of Finance after approval by the Council of Ministers. A 3% tax rate is effective and coupled with a requirement for SME taxpayers to file income tax returns.
Special provisions are applicable to the taxation of income derived from the sale of petroleum. The tax rate specified for such companies is 55%. However, the tax rates are applied on income as determined by the individual Exploration and Production Sharing Agreement entered into between the government of Oman and the company engaged in the sale of petroleum. Under these Agreements, the government pays the company’s share of income tax from amounts withheld from the government’s share of production. Consequently, the income tax is not borne by the company.
Oman has not traditionally had a personal income tax, a new law was enacted in June 2025 that will introduce a 5% personal income tax on high-income earners starting January 1, 2028. There are no regional or local income taxes in Oman.
Key details about the new personal income tax:
- Targeted earners: It will apply to individuals (both Omani and expatriate) with an annual gross income exceeding 42,000 Omani rials (~ $109,200).
- Effective date: The law will take effect on January 1, 2028.
- Tax rate: A flat rate of 5% will be applied to the income above the 42,000 Omani rials threshold.
- Other taxes: Oman does have other taxes, including corporate income tax, a 5% Value Added Tax (VAT), and various municipal taxes.
Provided we receive all the right documentation, the process typically takes between 2-3 weeks.
Foreigners can set up several types of businesses in Oman, including a limited liability company (LLC), a sole proprietorship company, a free zone company, a joint venture with an Omani partner, a branch office, and a representative trade office.
Oman permits 100% foreign ownership across most sectors under the 2020 Investment Law, covering both mainland and free zones. About 88% of activities fall under full foreign ownership, while the remaining are reserved for local Omani companies, mostly in consultancy fields like management, engineering, accounting, and legal services.
No, you must complete company registration and get a Commercial Registration (CR) certificate before opening a corporate bank account in Oman. The CR certificate is a mandatory permit issued by the Ministry of Commerce, Industry and Investment Promotion, and it serves as official proof of your business’s legal existence and authorization to operate. Only after securing the CR can you proceed with opening a business bank account for your company in Oman
Oman’s free zones offers benefits like 100% foreign ownership, long-term tax exemptions, full profit repatriation, and customs duty waivers as long as the companies do not trade with companies in “Mainland Oman”.
Tawteen in Oman is a national project and digital platform managed by the Ministry of Labour that aims to connect job seekers with employment opportunities and support workforce development across 18 key sectors, including tourism, telecommunications, education, energy, health, logistics, food security, and finance. The platform provides instant access to labor market data, enabling decision-makers to make strategic choices, monitor employment metrics, and track local value contributions
© Accord Consulting FZC 2024. All rights reserved.
Location
SetupOman Team
Office No. 505, Building No. 1532, Road No. 3519, Block No. 235, Al-Khuwair, Muscat, Sultanate of Oman
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