When considering a country for investment, understanding its legal framework is crucial. Oman, with its strategic location and diverse resources, has become an attractive destination for foreign investors. The country has a dedicated Foreign Investment Law, aimed at attracting and facilitating foreign investment.
Oman’s Foreign Investment Law offers the following to the investors;
Sole Foreign Investment: Investors can establish companies with 100% foreign capital without requiring an Omani partner, fostering independence in investment ventures.
Simplified Procedures: The law streamlines the approval and permit process for investment projects, ensuring ease of setup.
Prime Minister’s Authority: Projects can be initiated based on the Prime Minister’s decision upon ministerial recommendation, ensuring a fair playing field compared to national projects.
Land Allocation: Long-term leasing or usufruct rights for necessary lands and properties are available for investment projects.
Customs Exemptions: Specific investment projects can import necessary items without registration, benefiting from customs exemptions.
Tax Exemptions: Investment projects are exempt from taxes as per the Income Tax Law.
Ownership Transfer: Flexibility in transferring ownership wholly or partially to other investors or partners.
Oman’s legal framework, especially under the Companies Law, offers globally recognized business structures, making it easier for investors to navigate. With its legal environment, incentives, and simplified procedures, Oman provides a welcoming investment climate for foreign investors seeking opportunities in the Sultanate.
