Oman
Your comprehensive guide to business opportunities in Oman
Why Choose Oman?
Oman offers a stable and developing economy with increasing focus on diversification away from oil dependency through its Vision 2040 program.
Key Business Advantages
- Strategic location at the mouth of the Persian Gulf
- Political stability and neutral diplomatic stance in regional affairs
- Growing emphasis on tourism, logistics, manufacturing, and fisheries
- Lower cost of doing business compared to neighboring Gulf states
- Strong infrastructure development
Investment Opportunities
- Foreign investors typically need a local Omani partner (70% foreign/30% Omani); - 100% foreign ownership possible in free zones and certain priority sectors; - Minimum capital re...
Business Structures
- Limited Liability Company (LLC)
- Sole Proprietorship (for Omanis only)
- Commercial Agency
- Branch of Foreign Company
- Representative Office
Coworking & Workspace Ecosystem
Oman's coworking market is still developing but has seen growth in recent years, primarily in Muscat.
Startup Incubators & Accelerators
Connect with leading startup programs in Oman
National Business Centre
A government initiative under the Public Establishment for Industrial Estates (PEIE) supporting Omani entrepreneurs to e...
Business Setup Process
- 1Obtain initial approval from Ministry of Commerce, Industry and Investment Promotion;
- 2Reserve company name;
- 3Draft and notarize company documents;
- 4Apply for commercial registration;
- 5Obtain municipality license;
- 6Register with Oman Chamber of Commerce and Industry;
- 7Register with tax authorities;
- 8Apply for labor clearances and visas
Visa & Residency Options
- Business visa for short visits; - Investor visa for business owners; - Employment visa through local sponsor; - Family joining visa for dependents; - No path to permanent residency; - Exit/re-entry permits may be required
Startup Ecosystem
- National Business Centre
- Government incubator
- Innovation Factory
- Innovation hub and incubator
- Oman Technology Fund (OTF)
- backed venture fund
- Al Raffd Fund
- Government funding for Omani entrepreneurs
- SparkLabs Energy Accelerator
- SAS Accelerator
- based program
- Shell Intilaaqah Oman
- Entrepreneurship program
Cultural Considerations
- Workweek is Sunday through Thursday
- Business culture emphasizes relationships and trust
- Conservative dress code expected in business settings
- Arabic is the official language, though English is widely used in business
- making can be hierarchical and may take time
- Prayer times observed throughout the business day
- Ramadan significantly affects business hours and pace
Government Support
- Public Authority for SME Development (Riyada)
- Oman Technology Fund
- Industrial Innovation Centre
- Oman Investment Authority
- Public Authority for Investment Promotion and Export Development (ITHRAA)
- Oman Chamber of Commerce and Industry
- Ministry of Commerce, Industry and Investment Promotion
Latest Developments in Oman
- Introduction of long
- term investor residency program
- Increasing focus on digital transformation
- New bankruptcy law to protect businesses
- Foreign Capital Investment Law allowing 100% foreign ownership in certain sectors
- Development of innovation centers and incubation programs
- Growth of e
- government services
- Increasing focus on renewable energy projects
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