Choosing Company Structure
Selecting Your Sponsor, & Professional Advisers
Company Registration & Activities
Choosing Your Work Place
Processing Government Documentation & Clearances
Opening Company Bank Account
Choosing A Local Sponsor
Foreign companies may own up to 70% of the shares in an LLC (except for GCC or US shareholders, who can hold 100%), so it is a requirement to find a local Omani sponsor.
Insijam is a specialist in Setting Up A Company In Oman and acts as your 30% minor shareholder/nominee. We will negotiate a Shareholders Agreement to give you the full management, financial, operational control and authority in return for a fixed annual fee.
As your local partner we provide professional corporate governance and genuine limited liability. (More detailed information outlined in “The International company formation guide”).
Company Registration And Business Setup Process
There is a defined sequence which all companies should follow to become a fully operational and trading business. Insijam’s proven methodology makes the customer experience simple and efficient enabling you to commence trading as soon as possible.
Choosing Your Business Providers
Choosing the best local business partner for your newly established business is critical because unless you are familiar with Oman’s business community, the process can be extremely stressful, preoccupying and time-consuming. That is why Insijam offers its clients exclusively bespoke business facilitation services to help speed up the company formation process.
With our pre-qualified partners, we can provide: (navigate to Choosing business partners Icon).
Legal – Setting Up A Company In Oman, Company registration, activities (licenses) constitutive contracts, Partners resolutions, Powers of
Attorney, shareholders agreements and Chamber of Commerce certification.
Real Estate – choosing the right workplace such as offices (conventional or serviced offices), warehouses, retail outlets etc.
Financial – Tax and audit advice, bookkeeping, debt collection.
Bank opening – Choice of bank and bank opening process.
HR strategy – Omanisation policies, recruitment, localizing HR handbooks.
PRO services – working with the ministries, obtaining investor, work and residential visas, municipality licenses (as below).
Relocation Services – for family accommodation, schools and domestic support services.
Market research – strategic, customer services etc. logo design, local websites, business cards and marketing collateral.
Contract tender consultancy – international tender experience with local knowledge of competitors.
Translation services – legal and professional documentation
Choosing A Local Sponsor
Corporate Sponsor (LLC) with Insijam
Corporate Sponsor LLC
|Full management and financial control||Yes||Sometimes||Sometimes|
|Financial and tax record||Yes||Sometimes||?|
|Business setup services process||Yes||Sometimes||No|
|Company formation timelines||Yes||?||?|
|Pre-qualified business advisers||Yes||Sometimes||Sometimes|
|Specialist Visa and PRO services for start ups||Yes||Sometimes||Sometimes|
|Dedicated Management services||Yes||?||No|
Choosing Pro And Visa Services
Every company in Oman requires the services of a Government Liaison Officer who has to be an Omani citizen. They are locally known as a Public Relations Officer or PRO.
PROs are responsible for processing governmental documents and paperwork such as visa applications, labour cards, and company registration documentation and approvals.
Insijam’s partners offer reliable and experienced PROs who provide a deliverable and time-orientated service to speed up the company registration process for Setting Up A Company In Oman.
Our 12-point process ensures that all our clients are professionally and operationally established within a fixed timeframe.
In our process, we complete the documentation requirements by connecting you with the exhaustive government network including:
- Chamber of Commerce
- Ministries such as Commerce and industry, Manpower and other ministries for specialist licences
- Real estate companies (conventional and serviced office providers)
- Finance (tax)
- Royal Oman Police (licences, customs clearances etc.)
Choosing a local sponsor for an LLC in Oman
Foreign companies on the mainland (except the GCC and the USA) require a local Omani sponsor who legally owns a minimum of 30% shares in your limited liability company (LLC). You have the choice between an individual or corporate sponsor. And the chart below provides you with a breakdown of those choices:
Bank Account Opening For Foreign Companies In OMAN
As part of the company formation process, all foreign companies can open a company bank account after the newly formed LLC has been registered, leased a workplace with an address and has been certified by the municipality.Although the bank opening procedures vary from bank to bank, the Oman banking industry standards are highly regulated and demand a great deal of paperwork, bureaucracy, notably notarised and attested (navigation to attested services.) documents etc. With Insijam being highly respected by the banking community in Oman, we will work closely with you and the banks to simplify and speed up this complicated process.