Top 10 Things to Know Before Starting a Business in Oman


Do you dream about starting a business in Oman?

If yes, then this blog is for you. 

Oman, with it's

  • Rich history
  • Strategic location
  • Growing economy

beckons numerous aspiring entrepreneurs. But before diving headfirst, you must consider some aspects to achieve success. Here are the top 10 key things to consider before your business setup in Oman. 

Conduct thorough market research in Oman. 

  • Analyze your competition
  • Identify your target audience
  • Understand the cultural nuances

to know more about the Omani consumer market. Another common way to know the market is to find successful business owners in the country and ask them how they did it. You can do this through online resources like business directors or by talking to local businesses. 

Oman respects its traditions and values. Therefore, it's important to follow business etiquette. Personal connection is essential for survival, so invest time in networking and cultural immersion. Having a clear idea of the cultural side of the country and adding those to your business will prove to be a great success for you. 

Oman is well-suited for different structures for your business. Here is a list of all the available company entities for Oman business:

  • Joint Venture
  • Holding Company
  • Sole Proprietorship
  • Joint Stock Company
  • Limited Liability Company (LLC)

There are different industries for setting up a business in Oman. Some of the growing business industries are as follows:

  • Manufacturing
  • Import and Export
  • Warehousing and storage

You can start your business in one of these industries and start growing. Your task is to identify the gap in the business industry and highlight that with your expertise and passion. 

The Oman government is promoting other industries other than the oil business. The country is changing its economic structure and has come up with free zones. These Oman free zones are attracting foreign investors to start a business in Oman. The country has the following free zones with full company ownership:

  • Sea Ports of Oman.
  • Sohar Free Trade Zone.
  • Salalah Free Trade Zone.
  • Duqm Special Economic Zone.
  • Al Mazunah Free Trade Zone.

These free zones allow 85% of overseas workers with up to 30 years of tax exemption.  

Funding is a critical aspect of starting a business in Oman. Explore all the funding options:

  • Local banks
  • Government initiatives
  • International investors  

You have to have a clear idea about all the aspects where you will have to spend. Therefore, make an investment plan mentioning all the details of your spending in business. Keep in mind all the following expenditures:

  • Employee wages
  • Equipment costs
  • Lease payments.

Be prepared for a multi-step registration process involving government approvals and licensing. Patience and a knowledgeable local partner can smoothen this journey.

Start your business in Oman with a business license. Since the country offers different business activities, different licenses are available. You have to apply for a temporary or full business license. You can also contact business professionals for the procedure. 

It's important to do networking before starting a business in Oman. Omani's economy is growing, and this is the time for you to grab the opportunities. Start attending some networking events or business gatherings. You will meet new people with their innovative ideas.  

In the end, you have to be patient with the company formation process in Oman. This is not some late-night phenomenon. Understand the market of Oman and consider all the aspects mentioned here. Plan everything and strategically market your business.  

How Can We Help?

Contact our team and avail of the following services for business setup in Oman: 

  • 100% Foreign Ownership
  • Bank Account Assistance
  • 0 Paid-up Capital Required
  • Remote Company Incorporation

This is your sign to start an Oman business. Get some assistance from Business Setup Worldwide, a renowned business consultancy that's been in the market for more than 14 years. We have business professionals who hold extensive knowledge of company formation.

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