Oman located in the Middle East region is considered to be among the developing and flourishing business platforms. For business owners, it opens up a gateway of opportunities to establish their business either right from the scratch or allows well established entities to expand further. One major form by which well established businesses tend to enter into any new market or expands itself is by setting up a representative office in the chosen region. Through this article, you can get a better idea of how a representative office can be set up in Oman to accelerate your global business growth. Let’s begin..
ABOUT REPRESENTATIVE OFFICE
The representative office is considered to be a business structure created by well established companies for performing its non-transactional operations at the new market. The representative office under Omani Law is considered to be 100% foreign owned, managed and restricted to perform direct sales in Oman. Representative Office Regulatory Law is what governs the setting up of representative office as propagated by 22/2000 Ministerial decision number. However, there are some limitations to its activities like:
- Market research
- Parent company’s promotion
Presently, it has become compulsory of appointment of an individual by the Omani Representative Office, who needs to be an Omani resident. The document s also needs to be arranged sequentially and kept handy to enable much easier incorporation process. Check out the necessary documents given below that will have to be presented.
SOME DOCUMENTS NEEDED FOR ESTABLISHING REPRESENTATIVE OFFICE IN OMAN
- Parent Company’s Memorandum of Association & Articles certified copies
- Commercial Registration Certificate’s certified copies
- Authorization letter for representative office manager
- Undertaking letter stating clearly the liabilities the parent company will cover
- Directors’ specimen signatures
- ID copies for authorized signatories
- Certificate to prove parent company’s existence
On presentation, you will be required to take care of the representative office’s core set up process in Oman.
Representative Office establishment procedure in Oman
To initiate the setup process of the Representative Office in Oman, you are required to follow given below steps. It begins with…
What makes Oman an investment destination?
You, as a business investor can enjoy the benefits through profits earned by making huge investments. The following benefits can be derived by making investments in Oman:
- World class infrastructure
- The government has take numerous innovative steps to promote the economy
- Offers rapid developing economy with regards to social and economic domains
- Natural resources available in plenty
- Strategic location for entering other Middle East countries as well as for business expansion
Hence, the idea to setup a company in Oman is both feasible and beneficial. If you desire to establish representative office in the Sultanate of Oman, then we at OCR can be of great help. Our expert team is known for their professionalism, and help entrepreneurs and business owners to establish their ventures with visa, accounting, taxation, legal and accounting services