Company contact details:
Mazars in Oman
Office no. 412,
4th Floor, Maktabi,
Al Wutayyah, Muscat,
Sultanate of Oman
Telephone: +968 2456 2001/
+968 2456 1005/
+968 2456 1119
Fax: +968 2413 7650
CPA, CFE, CMC, CFC, CMgr
International Mazars Group - Belgium
Managing partner, Mazars Oman
Mobile: +968 9938 5151
Dr. Jonathan D. Stearns
Mobile: +968 9675 0679
Are you looking to invest in Oman?
If you are you looking to invest in Oman and need support to get the right information or take action, we at Mazars in Oman would be glad to serve you.
At Mazars, our aim is to help you navigate the challenges and opportunities you will encounter when you establish a business in Oman. The experience, knowledge and integrity of the Mazars team means we can work alongside you as a strategic local partner that you can trust.
Our expertise in working within Oman’s business systems will reduce uncertainty and risk, while helping you to recognise and make the most of the many benefits Oman has to offer.
Welcome to Oman. We look forward to doing business with you.
Why Mazars is your preferred advisor
We are the only firm in Oman who provides such a comprehensive and wide level of services to foreign investors.
We have been in Oman for over 16 years. We understand the investment and the legal environment of the Sultanate, including the rules and regulations that govern it. This is reflected in our book “Oman: Untapped Investment Destination - A Guide To Establishing A Successful Business In Oman”.
Supporting investors to establish businesses in Oman is a key activity for us. It is directly managed by our most senior people (Managing Partner: Abbas and Partner: Jonathan).
We have developed professional networks with the key people in public and private organisations. We leverage those connections to help investors to successfully settle in Oman.
Mazars in Oman is one of the leading firms in the country. It is led by a strong Omani partner, who is also a Partner of the international Mazars Group.
Mazars in Oman
Mazars is an international, integrated and independent organisation. We specialise in audit, accountancy, tax, legal and consultancy services. Mazars operates throughout the 104 countries and territories.
Mazars in Oman is one of the leading firms in the country and is an integrated member firm of Mazars. It is led by the Omani national, Mr. Abbas Al-Humaid, who is also a Partner of the international Mazars Group, registered in Belgium.
Mazars Oman is approved since 2004 by the Capital Market Authority (CMA) to audit the entities regulated by CMA including publicly listed stock companies (SAOGs), mutual investment funds, insurance companies, agents and brokers in addition to other entities such as closed joint stock companies (SAOCs) and limited liability companies (LLCs) across all industries.
Sample of our clients in Oman:
Oman Investment Fund
Ministry of Commerce and Industry
Capital Market Authority (CMA)
Omani Authority for Partnership for Development
AXA Insurance Gulf (B.S.C)
Why invest in Oman?
Oman is in an ideal location at the centre of the east-west nexus joining markets in Europe, Asia and North America. Just outside the Persian Gulf and the Strait of Hormuz, along busy shipping lanes carrying a significant share of the world's maritime commercial traffic, Oman has convenient access and connections to the Gulf, Africa, and the Indian subcontinent.
Oman is rich in cultural diversity, heritage, and racial harmony. It has untouched natural beauty‚ with landscapes ranging from magnificent mountain ranges to wadis as well as over 3000 km of beautiful coastline. These charming characteristics make it an attractive tourist and investment destination.
- Ranked 1st in Starting a Business criteria, by the WB, among the MENA’s 20 countries, and 32nd globally
- The IMF forecasts Oman to lead GCC growth in 2019 with a rate of 4.2%
- Ranked as the world’s 33rd most competitive country in the World Economic Forum’s Global Competitiveness Report 2013 – 2014
- Globally ranked ports, airports and roads and some of the most strategically placed ports in the world
- Over 1 billion consumers on Oman’s doorstep
- Signatory to WTO, GCC common market, GAFTA, FTAs with US and Singapore, Iceland, Norway, Switzerland and Lichtenstein
- 70% foreign ownership in most sectors, while 100% ownership in some cases and specific economic zones
- Setting up an Omani LLC (limited liability company) requires only two shareholders and one director of any nationality and domicile
- Some of the most competitively priced land and commercial property in the Gulf and Competitive Utility Rates
- 0% personal income tax rate, flat 15% corporate tax, double taxation relief treaties available with many countries and absence of Value Added Tax (VAT) or sales tax
- Investor friendly legislative environment
- No restrictions on repatriation of capital or profits
- In comparison to most Middle East countries, Oman is home to a vibrant expat and foreign investor community, amounting to almost half the total population of the country
- One of the world’s safest and most secure countries with one of the lowest crime rates in the world
- Oman is considered as one of the best places in the Gulf to bring up a family
- Affordable city living. House rental prices are well below the Gulf’s regional average
- 3,165 kilometres of stunning public shoreline
- In 2012, Monocle magazine voted Oman one of the world’s best tourist destinations
- At the centre of the east-west nexus joining markets in Europe, Asia and North America in addition to close proximity to Africa
- The Sultanate's Government has been making steady and ambitious investments in the country's infrastructure, including in the manufacturing sector, special economic zones, seaports, airports, rail, and roads, as well as in its healthcare, educational systems, telecommunications, and facilities
- Leading advanced telecommunication infrastructure supporting interconnected domestic and international networks
- Oman is committed to economic diversity and investment. Government focus on diversification, industrialisation and privatisation to reduce reliance on hydrocarbon revenues
How can Mazars serve you?
Your business set up paves the way for its future success. That is why you want to be sure you are starting out strong. Our services will help you do just that:
1. Passive Nominee Resident Shareholder:
For entities that require 30% local shareholding, Mazars will provide our clients with a professional passive nominee resident shareholder service.
2. Company &Tax Registration, Consultation and Execution:
Mazars can assist our clients in registering their business in Oman without personal travel to the Sultanate.
Consultation: We will assist you in deciding what type of Oman business entity and what class of business licence you need. As well, we can help you determine whether a free zone incorporation can be achieved and offer employment visa strategies.
Execution: We will manage all your company registration and legalisation processes including bank account opening, Ministry of Commerce and Industry, municipality approval, Ministry of Manpower, ROP, Chamber of Commerce and Tax Department of the Ministry of Finance.
3. Finding Office Premises:
We will arrange meetings for you with the four best premises that suits your criteria.
4. Cultural Orientation:
Coming to a new culture can be daunting. We can help you navigate the foreign waters from knowing how to conduct business successfully in Oman, to even providing a person to translate if required.
5. Employee Immigration Visas:
We prepare and submit a high-quality visa application that maximises the likelihood of visa approval for our clients.
6. Staff Recruitment/Head Hunting:
Knowing the country’s employment rules and labour standards positions us as experts in assisting our clients with their staffing concerns.
7. Maintenance of the Omanization Plan:
Companies are required to hire certain % of Omani nationals through a rule known as Omanization. However, finding suitable qualified Omani employees can be a challenge to fulfil the Omanization. We can support you in preparation and management of the Omanization plan.
8. Employee Payroll:
We will efficiently and timely complete monthly payroll obligations including: i) salary and pension calculations, ii) keeping accurate records, iii) paying withholding taxes.
9. Monthly Bookkeeping and Accounting:
We manage monthly bookkeeping, auditing, tax planning and general accounting services.
10. Corporation Tax Returns:
At the end of the year, Mazars can calculate your tax liability, complete the required form, and file it with the Oman Tax Authority, making sure that you avail the maximum tax exemptions and benefits, as per the Omani tax laws.
If there is any assessment by the Oman Tax Authority, we can represent you in their investigation and negotiations to minimise any penalties or liabilities.