Oman Free Zones

Oman Free Zone

The Sultanate of Oman is focusing on the growth of different business sectors and activities, in light of this, the Oman Free Zones are progressing steadily by continuing to strengthen their platform for foreign businesses. Setting up an entity in Oman provides investors with the opportunity to expand their business into other surrounding countries, which holds great potential for both established and new businesses.

Oman Free Zones are suitable for foreign companies looking to use Oman as a regional base for manufacturing and distribution and the country has specifically targeted businesses in the import/export industry. Free Zones always play a pivotal role in bringing international businesses to a region; if you are planning on expanding your business to Oman then there are many advantages of choosing a Free Zone entity:

Advantages of setting up in an Omani Free Zone:

  • Free Zone companies can be 100% foreign owned
  • There are no minimum share capital requirements
  • The are no corporate taxes for ten years, this is due to the tax holiday incentive
  • No import duty on imported and exported goods from the Free Zone
  • Free Zone companies in Oman are permitted to trade within the country without a local agent but will be required to pay 5% import duties.

Disadvantages of setting up in an Omani Free Zone:

  • Rental of commercial space in the specified Free Zone is mandatory regardless of the company size
  • Annual audited financials must be submitted to the Free Zone Authority to be eligible to renew a license
  • 10% or more of the employees must be Omani nationals
  • Free Zones in Oman are new and do not offer facilities like UAE Free Zones as of yet

Find more information about Oman Free Zones here: www.propartnergroup.com/blog/2019/05/free-zone-set-up-options-in-oman

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