Establishing your business in Oman will not be too difficult if you have the right kind of VAT professional assistance in UAE. GCC Filings will help you with a wide gamut of activities ranging from business or company incorporation, VAT registration, filing VAT returns, auditing, accounting and a lot more.
Advantages of Registering your Company in Oman
There are several advantages of company registration in Oman including the following:
- The Oman Government has been actively promoting and boosting growth of businesses with emphasis on industrialization, diversification and privatization alike.
- The Sultanate of Oman is strategically located at the mouth of the pristine Persian Gulf, giving it a highly convenient position with a 1700 km coastline which is the gateway towards the Arabian Gulf.
- Oman has been witnessing considerable social and economic reforms from the year 1970 onwards. There has been sizable development seen in sectors like real estate and tourism and Oman has been garnering foreign investments handsomely in recent years.
Registration Procedure for Companies in Oman
Here are the steps to be followed for getting your company registered in Oman:
- Reserve the name of the company at the outset. The application has to be submitted to the MCI (Ministry of Commerce and Industry) for reserving a unique name for the company, subject to nomenclature regulations in the Omani Law.
- Submit documents for incorporation thereafter. Post reservation of the company name and approval of the same, the shareholder documents have to be drafted along with the constitutive contract before obtaining the authorized signatory form and bank certificate. These have to be furnished to the MCI as well.
- Registration has to be done with the OCCI (Oman Chamber of Commerce and Industry) for complying with commercial regulations and other rules for corporate entities in Oman.
- The next step is to obtain approvals from Government departments including registration with the Royal Oman Police, tax registration, registration with the Ministry of Manpower for visas and labor clearances, export/import licenses, municipality licenses, environmental, industrial and other licenses and permits.
- You should then have your company seal ready and designed.
Documents Required for Registering Company in Oman
Here are the documents that you need to register your company in Oman:
- Form for company registration.
- Approved and authorized signatory form with the name and signature of the authorized company signatories.
- Copy of the valid ID of all shareholders along with authorized signatories of the company.
- Chamber of Commerce and Industry Affiliation Certificate.
- Company Statutes.
- Certificate of initial capital deposit at the bank.
GCC Filings provided you have adequate knowledge of local rules and regulations and have professional support to guide you throughout the process.