Oman’s Commercial Companies Law limits the activities of branches not owned by GCC or US shareholders to government contracts or to areas economically necessary for Omani development. In both cases, branches are required to have a local agent to sponsor Oman visas and licenses;

The branches are also required to obtain approval from the Ministry of Commerce and Industry (MOCI) and the license is only valid for the duration of the project. To issue an operations license, the ministry will require a bank guarantee of US$390,000;

Features of Oman Branch Office

Oman Branch Office

Corporate Details

General

  • Type of Entity

Branch Office

  • Registered Office in Oman

Yes

  • Shelf company availability

No

  • Our time to establish a new company

6 weeks

  • Corporate Taxation

Yes (15%)

  • Access to Double Taxation Treaties

No

Share capital or equivalent

  • Standard currency

US$

  • Permitted currencies

EUR, USD, GBP

  • Minimum paid up

None

No

  • No-par-value shares allowed

No

Directors

  • Minimum number

One

  • Local required

No

  • Publicly accessible records

Yes

  • Location of meetings

Anywhere

  • Corporate directorship allowed

Yes

Shareholders

  • Minimum number

Parent Company

  • Publicly accessible records

Yes

  • Corporate shareholders allowed

Yes

  • Location of meetings

Anywhere

Company Secretary

  • Required

Yes

  • Local or qualified

Yes

Accounts

  • Requirements to prepare

Yes

  • Audit requirements

No

  • Requirements to file accounts

Yes

  • Publicly accessible accounts

Yes

Other

  • Requirement to file annual return

Yes

  • Migration of domicile permitted

Yes

Best uses: This type of business entity is only recommended for Clients that have already secured a project contract with the Omani government.

The Valsen Advantage

  1. Speedy, Efficient and consistent Services.
  2. Relentless effort to obtain bank accounts.
  3. Expert advice on structuring options.
  4. Dedicated ongoing compliance support.