Entrepreneurs and individuals who derive income from the Sultanate need to open a bank account in Oman. This can be a required step (such as in the case of company creation), or an optional one that will greatly simplify one’s manner of handling local transactions.
Our lawyers can help you with the steps for company formation in Oman – which also includes bank account opening – and they can also give you details about how to open a bank account online in Omanin 2026.
Table of Contents
What are the requirements for those who open a bank account in Oman?
The most important requirement for those who wish to open a bank account is to provide proof of employment and residence when they apply for an account as residents.
Some banks may only open a bank account for residents in Oman, however, other banks allow non-resident customers to open a current account. For the latter, proof of address will still be required.
Because banks require proof of residence you will want to open a bank account in Oman once you arrive in the country, as part of the arrangements you make when you move to Omanin 2026.
The situation is similar for corporate bank accounts in the sense that the account is created for a locally registered legal entity. Our team can help you with the steps needed when setting up a company in Oman, including banking matters.
What are the most important terms and conditions for Omani bank accounts?
While the requirements differ from one bank to another, our team highlights some key issues to consider:
- All those who open a bank account in Oman are required to provide complete documentation;
- Persons who open a current account with the National Bank of Oman cannot be included in the Oman Central Bank’s caution list;
- Proof of employment and address – non-residents will also be required to provide information about the purpose of opening their account (these requirements may differ according to the chosen bank);
- When the balance falls under a certain amount the bank may impose a non-maintenance fee;
- Each bank sets its own bank charges – we recommend that those interested verify these fees when they research the available banks in Oman.
Our lawyers in Oman offer a short list of bank fees that should be taken into account:
- A bank account with a minimum balance of less than OMR 200 (approx. EUR 476) will be subject to a non-maintenance fee;
- Bank accounts that record no transactions for 1 year will be made dormant and they will be subject to different fees;
- A fee for closing the account can apply (for example, OMR 3 or about EUR 7 if closed within 1 year from its opening date).
Who can open a bank account online in Oman?
Some banks offer the option of opening an online bank account. However, interested individuals will still be required to provide the filled-in application form and the most important documents as part of the account opening process.
For information about the option to open a bank account online in Oman as part of the company formation process please reach out to our local team of specialists.
What are the most popular banks in Oman?
The following banks are present in Oman and offer different options for personal and corporate accounts:
- The Central Bank of Oman;
- The National Bank of Oman;
- Bank Muscat;
- Oman Arab Bank.
Oman banking statistics
According to the Central Bank of Oman, there are 18 licensed banks in the Sultanate. Moreover, there are 5 licensed leasing and financial institutions and 16 licensed money exchange companies.
Our team summarizes the data published in the quarterly statistical bulletin issued in September 2025 by Oman’s Central Bank:
- The Central Bank of Oman had total assets of 7425.9 million Omani Rial in the analysed month. Total assets amounted to 7796.7 million Omani Rial for Q3, 2025. Of these, the net value of fixed assets was 61 million Omani Rial for the same quarter;
- The money supply growth rate was 13% on a year-on-year basis;
- The growth rate for total credit in conventional banks amounted to 7.2%, and the total deposits amounted to 25772.6 million Omani Rial;
- The capital-to-risk-weighted asset ratio was 18%;
- As far as private sector deposits were concerned, most were in Omani Rial (at the end of Q3, 2025).
Do you want to open a bank account in Omanin 2026? We can help answer some of the most common questions that concern residents, non-residents, and nationals of the GCC countries.
We can also offer guidance for those who wish to immigrate to Oman for employment or business purposes.
For more information and assistance with banking and bank account creation please contact our lawyers in Oman. Our lawyers can also help you open a company in Oman with no minimum share capital required for LLC.