All local companies are required to have i) two shareholders and one director (who can be the same persons) ii) a minimum paid up capital of OR150,000 (Approx.US$390,000) and iii) a local address. Of the two required shareholders, one must be a national of Oman, of a GCC State or of the USA and must own 30% of the company’s shares;

Since the signature of the 2009 Free Trade Agreement with the USA, American citizens are treated as local citizens and are therefore allowed to form local companies without a local partner, provided that all of the shareholders are American. For such cases, the minimum share capital is set at only OMR20,000 (Approx. US$52,000) and is not required to be paid up;

Features of Oman 70% LLC

Oman  LLC

Corporate Details

General

  • Type of Entity

LLC

  • Registered Office in Oman

Yes

  • Shelf company availability

Yes

  • Our time to establish a new company

6 weeks

  • Corporate Taxation

Yes (15%)

  • Access to Double Taxation Treaties

Yes

Share capital or equivalent

  • Standard currency

US$

  • Permitted currencies

EUR, USD, GBP

  • Minimum paid up

US$390,000

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

Two

  • 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

Oman 70% LLC Distinctive Advantage

  • Each shareholder is liable only to the extent of his/her share capital
  • Public subscription for enhancing investment is not permitted
  • A foreign manager can be assigned for the day-to-day management of the business.
  • Omani shareholders usually play no part in the undertakings of the business
  • It is possible to share profits and losses in a ratio different to the share capital ratio.

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.