The most common form of company is an LLC.
Other type is joint stock company.
LIMITED LIABILITY COMPANY
According to Oman Law, Limited Liability Company is required to hold 30% by a local Omani partner. Some local partners seek an active role in the Limited Liability Company where other partners are more like sleeping partners.
The LLC is required one or more managers and the authority of a manager is typically set out in the constitutive contract and the authorised signatory list, which is registered at the Ministry of Commerce and Industry Oman (MOCI).
The minimum capital of an LLC must be RO 20,000. It is important to note that the share capital has to be paid in full, otherwise the MOCI will not issue the trade license. The name of company may include the investor’s name or any. But the MOCI does not permit any LLC to include the word “Oman” in its name unless the capital is at least RO 500,000.
Finance accounts must be maintained with International Accounting Standards. Note that if the capital is more than RO 50,000 or the number of partners are more than ten, then it’s required to have at least one finance auditor in an LLC.
For more information on Limited Liability Company establishment in Oman, please contact us on firstname.lastname@example.org or please complete the details in the form opposite.