Benefits of Setting up a Business in Oman

Last week my team surveyed our clients and we found something interesting. Most of our clients opt for Oman for business setup. This is surprising because our key jurisdictions are Seychelles, BVI, and Belize.

This is a big opportunity as Oman could be a big piece of the pie for us. But why is Oman gaining so much popularity?

I sent my team to interview all the clients opting for Oman to know their reasons. We ended up with 7 precise reasons. Let us go through them.

1. The Economy of Oman

Oman is experiencing rapid growth. It has liberalized its markets and opened up business opportunities for foreign investors.

And it is new compared to its counterparts so entering now will mean less competition. Plus the government is providing support for helping businesses shatter the glass ceiling.

Everything depends on your intelligence and expertise in utilizing these services.

2. The Strategic Location of Oman

The Sultanate of Oman holds a crucial position in maritime transportation geography.

• It's connected to Asia via Iran.
• It shares land borders with all the countries surrounding the Persian Gulf.
• It has maritime trade routes with Africa, the United States, and Europe from the south.

This makes Oman an effective enabler of international business.

3. Modern Infrastructure in Oman

The development of infrastructure in Oman is nothing short of impressive.

• You’ll notice the construction of large ports. This simplifies the imports and exports.
• The establishment of quality airlines makes traveling more efficient.
• Other developments are reducing the investment risks in this country.

And the cherry on the top, FDI is pouring in from around the globe.

4. Oman's Friendly Trade Regulations

Oman's government is enabling trade with each year's numbers surpassing the previous years.

• The country is entering into many trade agreements with other countries.
• Over 35 commercial agreements with various countries. This shows mutual trust between Oman and its trading partners.
• Doing business in Oman gives you access to markets in major economies like the United States.

5. Tax Exemption in Oman

Most governments have unfair taxation systems, right? The Omani government understands the plight of entrepreneurs well. So it is taking many measures, here are some of them:

• Your personal banking accounts are exempt from taxes.
• But, for your business banking accounts:

If your profits exceed OMR 20,000. Or if your turnover exceeds OMR 100,000.

In these cases, you have to pay 15 percent of your net income as taxes to the government.

6. Safety and Stability

One of the reasons businesses aren't able to flourish in a nation is due to political instability. Oman is famous for its low crime rates and political stability.

It provides a secure and peaceful environment for the industries in Oman to flourish. Here safety and stability is a surety.

7. Expatriate Friendly

Oman welcomes expatriates and offers amenities & services tailored to your needs.

Living in Oman brings together:

• Cultural richness.
• Economic opportunities.
• A unique blend of natural wonders.

This makes shifting to this country so easy for entrepreneurs. This makes it an appealing destination if you're considering a business setup in Oman.

Hope our research will help someone who is considering an international business expansion.

Peace Out!