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2.1. Main Formation Requirements

The establishment of a company in Oman involves a number of steps and requires registration/approval with multiple government agencies, although the process is streamlined through Oman's one-stop shop facility. The following outlines the basic requirements for establishment:

  • Deposit initial required capital and obtain deposit certificate
  • Register at the Commercial Registry of the Ministry of Commerce and Industry, including submission of the following:
    • Completed company registration form
    • Company statutes, such as memorandum and articles of association
    • Certificate of capital deposit from the bank
    • Particulars of the shareholders, including passports and ID cards for natural persons
    • Signatory forms, including passports and ID cards of each signatory and sample signatures
  • Register with the Chamber of Commerce and Industry
  • Obtain a business license from the Municipality of Muscat, which includes submission of the following:
    • Completed application form
    • Company statutes
    • Chamber of Commerce and Industry affiliation certificate
  • Register with the Tax Department and apply for the tax card (a unique tax identification number of the taxpayer) within 60 days of incorporation or date of commencement of business, whichever is earlier. The tax card is valid for two years and request for the renewals is required to be made not later than one month before the card’s expiration. Further, any changes in the taxpayer’s information are required to be submitted within 30 days of the change.
  • Register employees for social insurance
  • Make a company seal

In addition to the standard establishment process outlined above, certain businesses in Oman must be approved by relevant government bodies. The business types and relevant government bodies are as follows:

  • Banks, financial institutions, financial leasing companies and exchange companies must be approved by the Central Bank of Oman
  • Insurance companies and related agencies must be approved by the Insurance Department of the Ministry of Commerce and Industry
  • Manufacturing businesses must be approved by the Industries Department of the Ministry of Commerce and Industry
  • Medical products must be approved by the Ministry of Health
  • Printing, publishing and broadcasting activities must be approved by the Ministry of Information and Culture.
  • Educational activities must be approved by the Ministry of Education
  • Tourism projects and hotels must be approved by the Ministry of Tourism
  • Mining Projects must be approved by the Department of Mines and Quarries of the Ministry of Commerce & Industry