Why to
Start Business
in Oman
Why to Start a Business in Oman?
The company formation in Oman is a great idea that can change your life forever. The policies made by the Sultanate are alluring and attracting the attention of investors from all over the world. The political stability in the country has paved the way towards a stable economy and the location of Oman at the heart of global trade routes makes the country the best choice to invest. The sultanate is located on the Arabian Sea and also touches the Arabian Gulf and this makes the location more important both economically and strategically.
The Cost of Doing Business in Oman
According to the World bank, Oman is the most cost-effective country in the MENA region which makes it the best country for doing business. The country is also the best place for doing business because of easy availability of labor, low rate of utilities, easy access to the facilities, business financing cost and low tax rates.
- 15% Corporate Tax
- 5% VAT
- Regionally competitive wage and business costs
OMAN Vision 2040 is The Thriving Force Behind Development
According to Oman vision 2040 several sectors are termed as the most significant sectors that can see growth.
Manufacturing
There is great growth expected in the industrial manufacturing sector of the country. The reason behind is the easy access to skilled labor, raw material cost and modern infrastructure of the country.
Renewable Energy
The government of Oman is eager to invest in the solar, wind and other sectors of renewable energy and for that the government of Oman is open to offer opportunities to the private sector to reach the goal.
Tourism
The country is known for its mighty mountains, majestic beaches and diversified culture and there is a great opportunity for investors to invest in this sector because there is definitely a growth in upcoming years.
Logistics
The location of Oman with its seaports and airports make it a great destination for logistics business. The country actually connects the Subcontinent and far east countries with the Gulf. There is always a great opportunity for growth in the given sector.
Special Economic Zones
The country has some economic zones available which are called as special economic zones and provide certain benefits like:
- 100% foreign ownership
- Tax Exemptions
- Streamlined Customs Procedure
- World-class infrastructure
The major Special Economic Zones (SEZ) and Free Zones are as follows:
- Special Economic Zone at Duqm
- Sohar Port and Free Zone
- Salalah Free Zone
- Al Mazunah Free Zone
- Khazaen Economic City