A trade license is the fundamental legal document required to conduct any commercial activity in the Sultanate of Oman. This permit, issued by the Ministry of Commerce, Industry and Investment Promotion (MOCIIP), serves as the government's formal recognition to operate your business within the country. The Omani government has implemented a streamlined process for obtaining trade licenses as part of its ongoing efforts to diversify the economy, attract foreign investment, and strengthen the private sector.
Understanding the Oman trade license application process is essential for anyone seeking to establish a commercial presence in Oman. Read this blog to learn more about the different types of trade licenses available in the country, along with the process and documentation.
Back to topWhich Types of Trade Licenses are Available in Oman?
Oman offers various licenses to cater to the diverse needs of businesses operating within its borders. Let us have a look the the types of Oman trade licenses:
Types | Description |
Commercial license | This license is issued to businesses engaged in trading activities such as retail, wholesale, import, and export. |
Industrial license | It is designed for businesses involved in the manufacturing of goods within Oman. |
Professional license | It is issued to service-oriented businesses which provide specialised services such as consulting, legal services, or accounting. |
Tourism license | This license is issued explicitly to businesses operating in the hospitality and tourism sector. Some of the common business activities include hotels, tour operators, and travel agencies. |
What are the Steps to Secure a Trade License in Oman?
The process of establishing a new business in Oman begins with obtaining the appropriate license for your business. Wondering how to get a trade license in Oman? The following steps outline the general procedure to obtain an Oman trade license:
Step 1 - Determine your business activity. You can partner with Commitbiz LLC, a leading corporate service provider. Our experts can help you identify the most suitable business activity, aligning with the local licensing categories.
Step 2 - Choose a jurisdiction for your business setup in Oman - choose between an Oman free zone company formation and a mainland setup. Once the location is decided, select a suitable business structure based on your business needs.
Step 3 - Prepare and submit all the required documents. We can help you prepare and organise all these documents, avoiding delays and fines.
Step 4 - The team at Commitbiz will submit the documents and a completed application form to the relevant authorities for company registration in Oman.
Step 5 - Our team will apply for the relevant Oman trade license by providing the essential documentation.
Back to topWhich Documents Are Required to Apply for an Oman Trade License?
For successfully availing the relevant business license, entrepreneurs must provide the following documentation.
- Copy of financial statements
- Copy of lease agreement
- Business plan
- Memorandum of Association (MoA)
- Articles of Association (AoA)
- Passport and visa copies of all shareholders
These documents ensure compliance with local regulations, verify the legitimacy of the business, and facilitate smooth processing by the licensing authority.
Back to topHow Can Commitbiz Help?
Commitbiz LLC has several years of experience in the business incorporation field. Whether it’s starting a business in Oman or securing the relevant licenses and permits, our experts can guide you through every step of the process.
Our team will help you make a decision about the appropriate business structures, location, and more to ensure a successful company setup. We also provide post-company incorporation services, which include opening a bank account, availing visas, intellectual property (IP) protection, and more. Contact us to secure your Oman trade license.
Back to topWhat types of business structures are available for a company formation in Oman?
Entrepreneurs in Oman can choose between a Limited Liability Company (LLC), Single Person Company (SPC), wholly owned subsidiary, or branch office.
What is the Oman trade license cost?
The Oman trade license cost depends on several factors such as business activity, jurisdiction, company structure, and more.
How often do you need to renew an Oman trade license?
Businesses in Oman are required to renew their trade license annually.
Can businesses amend a trade license in Oman?
Yes, businesses in Oman can amend their trade license to reflect changes made in the company. Seek the guidance of business setup consultants from Commitbiz to guide you through the process.
What are the benefits of starting a business in Oman?
Entrepreneurs can avail tax exemptions, access high-tech infrastructure, and government initiatives that encourage foreign investment
