Single Person Company (SPC).
Set up your SPC Business in Oman Effortlessly with Analytix. With us as your trusted partner, run your dream company in no time.
Analytix can help with your Market Entry Efficiently
Analytix gives you a seamless entry into the Oman market. We simplify the whole process for both new businesses and foreign companies in the Sultanate.
From SPC company formation in Oman to all allied business services, we’ll be your complete corporate business guide.
Benefits of starting a Single Person Company in Oman
100% Ownership
Entrepreneurs can start an SPC in Oman with 100% ownership and help maintain complete control of their business operations.
Strategic Locations
Oman’s strategic location easily connects to the major markets in Asia, Africa, and the Middle East which makes it a perfect location for business expansion.
Growing investor confidence
Global Investors are finding Oman attractive with streamlined SPC formation and business-friendly policies.
Economic Growth
Offers a stable environment for business success with a strong and developing economy.
Planning to start a Single Person Company in Oman? Analytix makes the process of securing all business licenses for your Oman SPC Registration easier and stress-free. Our expert consultants take care of everything alongside legal partners, all that remains for you is to focus on your core business.
Documents required for starting Single Person Company (SPC) in Oman
Analytix helps you ensure necessary documents are prepared in advance for a smooth Oman SPC Registration and to prevent any delays. Let us now take a look at the detailed list of the documents you need:
- Application Form - Filled and Signed (MOCIIP)
- Company name Approval Certificate- Certifying that the company name is approved
- Articles of Association - Prepared and Signed by the Owner
- Owner’s Identification documents - Copies of passport, Residency visa, and Civil ID
- No Objection Certificate (NOC) — if necessary for expatriate owners
- Copy of the Lease Agreement- Legal proof of physical office address in Oman
- Bank Statement- Proof the minimum capital deposit
- Additional permits or licenses- Sector-specific permits from relevant authorities
- Time to Start Business in Oman
Easy Setup Procedure for Oman Business Expansion
Doing business in Oman now has never been this easy. Analytix makes the whole process easy for foreign investors. Here is how we take you through every step:
1. Choose a Business Activity
The first step in setting up a Single Person Company (SPC) in Oman is always to select a business that matches Oman's laws. Analytix helps you verify all requirements of licensing before proceeding as certain industries require special permits.
2. Reserve a Company Name
According to MOCIIP (Ministry of Commerce, Industry and Investment Promotion), the name of your business must be unique and fit certain standards. It has to be in Arabic or Arabic transliteration and not clash with any existing names. Analytix helps you reserve your company name through the MOCIIP portal.
3. Draft the Articles of Association (AoA)
Articles of Association (AoA) is a key document representing the charter of the company's structure, ownership, and operational process. This document should be written in Arabic and comply with Omani corporate law. Analytix facilitates the consultation of a legal expert to ensure the document complies with the regulations.
4. Obtain Necessary Approvals & Licenses
Analytix helps you secure any additional permits or licenses you might require for the Oman SPC registration depending on the business activity you choose from Oman regulatory authorities.
5. Submit Application to MOCIIP
After preparing all necessary documents, we submit your Oman SPC Registration application to MOCIIP via online or offline mode.
6. Register for Taxes & Social Insurance
Once the registration is complete, Analytix assist you obtain a Tax Identification Number (TIN) from the Omani Tax Authority and register for Value Added Tax (VAT), if applicable. While hiring employees, registration with the Public Authority for Social Insurance (PASI) has to be done to ensure that labor laws are followed.
7. Open a Corporate Bank Account
Analytix facilitates the opening of a corporate bank account in a reputed Omani bank for conducting financial transactions. For this, you need to submit the company registration certificate, AoA, and the owner's identification documents to the bank.
8. Obtain Additional Licenses (if applicable)
Analytix makes sure you secure any additional approvals required depending on the sector of your business. For example, import-export companies will need to get registered with Omani customs. Compliance with all regulations will prevent any operational delays.
Schedule a free consultation with our Company Formation Expert
Akil Raj, Senior Business Consultant
Our One-Stop Business Support Services for Oman Companies
- FAQs
Frequently Asked Questions
If your question is not addressed here, please feel free to reach out to us. We value your inquiry.
Are foreigners allowed to establish an SPC in Oman?
Yes, foreigners can establish an SPC in Oman. The Foreign Investment Law expressly permits 100 % ownership of such businesses by expatriates. The initiative is to attract foreign investors by making it simple for them to start business activities in Oman.
How long does it take to register an SPC in Oman?
The timeline of Oman SPC registration may differ, depending on the completeness of the documents submitted and the type of commercial activity. As a general rule, provided that all required documents are in order, registration can normally be completed within a matter of weeks.
Are there any tax obligations for SPC in Oman?
The SPCs are subject to all corporate tax law provisions in Oman. It must registered with the Omani Tax Authority to secure a Tax Identification Number (TIN) and comply with all tax filing requirements.
Is there any minimum capital requirement to start an SPC in Oman?
Oman’s Commercial Companies Law has eliminated the minimum capital requirement for setting up an SPC, making it easy for entrepreneurs to set up their businesses.
Do we need a physical office to run an SPC in Oman?
Yes. An SPC must have a physical office address in Oman for it to be registered. The registration documents must also include a valid lease agreement.
