Foreign companies conducting business in Oman are allowed to open branches in order to engage in their specific activities.
Investors should note that these companies are permitted to engage in private business when they sign contracts with the Omani Government for this purpose.
The particular nature of branch operation in Oman makes it advisable to seek professional assistance, such as the services offered by our lawyers in Oman, before you engage in the registration of a branch of a foreign company.
Foreign companies interested in opening a branch in Oman in 2023 can reach out to our team of agents for complete assistance during this process.
Immigration to Oman is not mandatory for the purpose of branch creation.
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Who can register a branch in Oman?
Oman has a particular regime for foreign companies entering its internal market.
An international company can request the registration of a branch when is has concluded a contract or an agreement with the Government of Oman.
Other situations in which the applications for branch registration are taken into account are when the applicant organization has an agreement or a contract with a public company, a stock company that holds Government shares or with a company that was registered by a Royal Decree.
The general rules briefly described above remain the same for branch creation in 2023. Given the fact that these approvals are mandatory, we recommend that foreign company representatives contact our incorporation experts as soon as the company Board has made the decision to expand on the Omani market through a branch.
What are the steps required to open a branch in Oman in 2023?
Investors who are interested in setting up a branch will generally follow the steps below:
- Submit the request to register the branch and open the bureau in Oman;
- Provide the supporting documents, as needed; these include the mother company’s Articles of Association and its certificate of registration in its home country, among others;
- Receive the information that the application was registered (via e-mail in most cases);
- Pick up the confirmation papers and certificate from the commercial registration office.
Please keep in mind that applications are taken into account when the full documentation is submitted. A key document is the agreement or contract signed with the Government, or a letter issued by the Government indicating the existence (and number) of this agreement.
In addition to the documents certifying the identity of the international company and its relation to the Omani Government, applicants will also need to provide copies of the ID cards of the company representatives and specimen signatures.
The branch is an extension of the parent company abroad, therefore, it will engage in the same activities.
For information on how to set up a company in a different field, as well as the policies for foreign investments in Oman, we invite you to reach out to our Omani lawyer.
Our immigration lawyers in Oman can also help you if you have questions about this particular topic.
Who handles the process? Can you assist me?
If your company or organization meets the criteria to open a branch in Oman in 2023, namely, it has a contract or an agreement for the provision of services as mentioned above, our team can provide you with complete assistance for registration.
Moreover, our lawyers in Oman can assist with legal representation in front of the authorities, including the Ministry of Commerce and Industry responsible for handling the process.
We also offer assistance in relation to other Omani regulatory agencies, as well as for all purposes related to company formation in Oman.
We also assist those interested in immigration to Oman.
Foreign investments in Oman
According to data from the Government of Oman, the total investment volume in the second quarter of 2021 was 16,332.60 million Omani Rial. Other statistical data shows the following:
- U.A.E. had the largest quarterly foreign investment percentage out of the GCC countries, with a quarterly investment value of 1,217.90 million Omani Rial in Q2 2021;
- it was followed by Kuwait, with a quarterly foreign direct investment value in Q2 2021 or 911.20 million Omani Rial;
- out of the Asian countries, China had the largest contribution in Q2 2021, of 8,291.50 million Omani Rial.
According to the National Centre for Statistics and Information, the growth rates of non-oil activities (at current prices) were the following at the end of 2022’s third quarter:
- Agriculture and fishing: 12.4% increase
- Industry activities: 28.6%;
- Services activities: 9.7 increase.
Foreign investors who wish to know more about opening a company in Oman, as well as the requirements for concluding agreements for the branch with the Government, can contact our lawyers.
If you wish to know how you can relocate to Oman, in addition to starting a business here, our immigration lawyers in Oman can help you.