Exports to Oman’s potential new businesses
Under the provisions of the Law on Foreign Investment of Oman (The Foreign Capital Investment Law), the state-corporate foreign investment in Oman establishment must have at least 35% of assets owned by citizens Oman. This rate is lower than the UAE (UAE businesses to have formed at least 51% of the value of assets owned by UAE nationals), indicating the degree of ventilation of Oman in the legislation on foreign investment.
Oman has an open business environment, ventilation, respect the principle of “free market” respect the supreme legal contracts, implementation of protection of intellectual property rights, import duties low, low corporate income tax. Capital assets and profits of the business are free to move abroad. In Oman does not provide the personal income tax. Individuals are free to transfer money abroad. Corporate income tax exemption for a period of 5 years from inception, for businesses operating in a number of priority areas to be exempt next 5 years.
Investment in some sectors, priority areas have the opportunity to access loans from the government at preferential interest rates very low or zero. When construction of the plant, investors are duty-free import of machinery and equipment production materials. If the enterprises producing export goods are now imported duty free raw materials and access to export credit insurance. Oman Ministry of Industry and Commerce application “OSS” for the registration of the enterprise business. Workforce in Oman was rated as highly qualified skilled and can use bilingual proficiency: Arabic and English.
Oman government is very interested in the investment and development of infrastructure, including seaports and airports, free economic zones, export processing zones, railways, roads, health facilities and education education.