Oman Free Zone Company Formation

Free zones have always been an eye-catching factor for investors when establishing a business in the GCC countries. These zones have played a great role in bringing international businesses to their respective countries, as certain areas where they function are tax-free zones.

The Oman Freezone company formation process has always been a favourite for international investors because of the availability of these zones and the ease they provide for the growth of a business. If you plan to expand your business, you can opt for these Freezones in Oman.

This guide will give you an overall idea regarding company formation in Oman Freezones.
 

Benefits of Oman Freezone Company Formation

Now, There are many benefits you can derive by Oman freezone company formation. The reasons as to why to invest in Oman are:

  • Minimum 5 years of lease.
  • No Corporate tax for 30 years.
  • Investors get 100% ownership.
  • No Minimum Share Capital requirement.
  • Trade can start within Oman without a local agent.
  • No duties are imposed on import and export procedures.
     

Industrial Free Zones in Oman

The Sultanate of oman has four free zones that focus on the growth of different business sectors and activities. These zones allow the import of raw materials, processing, assembling and packaging, exporting finished products, and storing and warehousing of products.

The free zones have been categorised accordingly based on the business sectors they support. One should select a zone according to one’s industry and business needs.

You have 4 free zones in which Oman freezone company formation can be done:

The Sohar Free Zone

It is a 4,500-hectare deep-sea port that attracts almost USD 26 Billion and is one of the fastest-growing ports in the world. The port will also be managing Oman’s Food Reserve.

The Salalah Free Zone

This free zone offers solutions related to incorporation and liaison to businesses planning to expand into the Middle East, Africa, Southern Europe, and Asia. The location becomes attractive due to its low labour, utilities, and infrastructure cost.

The Al Mazunah Free Zone

Established in 1999, the Al Mazunah free zone is close to the Yemeni border, making it the Gulf gateway to enter the Republic of Yemen and East African countries. This zone can be considered a commercial, service, and industrial hub.

The Duqm SEZ 

One of the future’s biggest economic zones lies in Duqm SEZ. With an area of almost 1,745 sq. km, the zone has been divided into 8 sub-zones that hold different grounds of investments such as industries, seaports, dry-dock, tourism, fisheries, etc.


Steps for Company Formation in Oman Freezone?

For an investor, one must follow the below-mentioned process for doing a company formation in Oman freezone.

Submit the application form and reach an agreement on the commercial terms.

     2. Prepare the Required Documents

The following documents are essential for company formation in Oman Freezone:

  • A No Objection Letter to the Ministry of Environment and Climate Affairs.
  • A figurative representation of total employment generation.
  • Name of the investors, along with their country of origin.
  • Business Plan along with Capital Investment
  • Total electricity and water requirement
  • Contact details of the investor
  • Projected cargo volume

   3. Clear the Due Diligence Process

Select a plot, get approval for its application, and clear the due diligence process.

   4. Pay the Oman Free Zone License Cost

Set Up Your Company in Oman Starting from OMR 1999* and avail of our services for your company registration.

*Prices are subject to change. Kindly connect with us for confirmation.

Collect the Certificate of Incorporation and sign the lease agreement.

Summarising the overall information, we can say that Oman’s free zones are heading towards progress and provide a great investment platform for business investors. The location holds great potential for both established and start-ups and allows investors to expand their business to neighbouring countries. 

To initiate the process, it is recommended to have a word with a business consultant who is well versed with the Omani legal rules and regulations and business setup processes. This will help you to incorporate the entity at a faster pace and in a hassle-free way. 

Wondering whom to approach? Don’t worry. We’ve got your back.
 

End Note

Commitbiz has been helping firms and entrepreneurs establish their businesses in Oman. Our experts are well-versed in the Omani business framework and will cater to your needs accordingly. 

To proceed towards starting a business in Oman today, do contact us. We’d be happy to assist.

FAQs

How many free zones are there in Oman?

There are four free zones in Oman:

  • The Al Mazunah free zone
  • The Salalah free zone
  • The Sohar free zone
  • The Duqm SEZ.

What are the essential documents for an Oman Free Zone company?

The following documents are essential:

  • Name of the investors along with their country of origin
  • Business Plan along with Capital Investment
  • A figurative representation of total employment generation
  • Total electricity and water requirement
  • Contact details of the investor
  • Projected cargo volume
  • A No Objection Letter to the Ministry of Environment and Climate Affairs.

What benefits can be availed from incorporating an Oman Free Zone company?

The following benefits can be availed:

  • Investors get 100% ownership
  • No Minimum Share Capital requirement
  • No Corporate tax for a period of 30 years
  • No duties are imposed on import and export procedures
  • Minimum 5 years of lease
  • Trade can start within Oman without a local agent.

What is the Duqm SEZ an important free zone?

It is important because, with an area of almost 1,745 sq. km, the zone has been divided into 8 sub-zones that hold different grounds for investments such as industries, seaports, dry-dock, tourism, fisheries, etc.

What are the different free zone business activities allowed in Oman?

The free zones allow the import of raw materials, processing, assembling and packaging, exporting finished products, storing and warehousing of products, etc.