The Sultanate of Oman has been tirelessly developing itself as a business hub and has opened its wings to embrace all the corporate structures. Establishing a company in Oman is an easy process as it provides the international investors and business owners multiple options to operate their business. One such option turns out to be the establishment of a branch office. This article will take you through the process of initiating a branch office in Oman. Let’s start by understanding what a branch office is all about.
What Is a Branch Office?
The literal meaning of branch relates to an extension or division of a core platform hold by the same roots. When a business entity wants to expand its reach to any other location by keeping the control in its own hands, it takes a step forward towards the establishment of its extension. Such an extension of a business is comprised of small divisions that focus on marketing, human resource, accounting etc. which is referred to as a branch office. Now, let’s proceed towards opening a branch office in Oman.
How to Open a Branch Office in Oman?
The lifetime of a branch office in Oman deals with the contractual period with the Omani Government entity, or a quasi-government entity. Once the contract reaches its completion stage, the commercial registration comes to an end. Establishing such a corporate entity doesn’t need to have any minimum capital requirement, plus the administrative set-up process turns out to be much easier as compared to the mother company. Next, you will be dealing with the essential document required followed by the core process of branch office setup in Oman.
What Are the Documents Required to Open a Branch Office in Oman?
- Application form for registering the Branch Office
- Certified copies of Memorandum and Articles of Association
- Certificate of Company Establishment
- Authorization letter from the Main Office to the Branch Manager
- Copies of ID Cards of the authorized signatories
- Authenticated letter submitted by the min office that states it bears all the responsibilities of the Branch Office
- Copy of agreement signed with the Omani government that depicts the number of contracts and date of commence and expiry
What Is the Process to Open a Branch Office in Oman?
1. Submission of Request
This is the initial step where a request needs to be submitted at the Investors Services Department stating that a branch office needs to be incorporated.
2. Application form Signing
This is the next step wherein the supporting documents need to be submitted along with the application form duly signed.
3. Collecting Application Number
The computerized system ends up generating an application number, and date of submission that will be forwarded to the applicant via registered mail and contact details.
4. Checking the Status of Application
The next step is to check the application status where it states whether its approved, rejected, or any it requires any additional information.
5. Collection of Certificate and Fee Payment
This is the final step wherein the investor needs to pay the required amount to collect the certificate and registered papers required by the Commercial Registration Office.
Benefits of Setting Up a Branch Office in Oman
With the implementation process of incorporating a branch office in Oman, an investor or business owner will be able to avail benefits like:
- No minimum capital requirement
- Administrative burdens become less to a great extent
- Branches are 100% owned by the parent company
- Liabilities are to be borne by the parent company
- Gateway to a new location
- Deals with Omani Government that enhances the goodwill
By now you have come to a point, where-in you have got a clear idea regarding what a branch office is all about, how to initiate the process of establishing them, as well the benefits that you being an investor or a business owner can avail. All you need now is a guide, a catalyst that will help you in initiating the first step. At Commitbiz, we take care of the same. We are a team of expert professionals who help in building business roots and are involved in the incorporating, legal, visa, accounting, and legal processes for our clients. To take your idea to the next level, and initiate the establishment process, do contact us today. We’d be glad to assist.