Special Economic Zone of Duqm — Oman Free Zone Company Formation

The Sultanate of Oman has several Free Zones that have been one of the eye-catching parameters to attract international business investors in its ground. Like the Sohar and Salalah Free Zones, there comes another zone known as the Duqm Special Economic Zone. The treaties give a clear picture of Duqm Oman and the facilities it provides. When you are an investor looking for business investment opportunities in Oman and are titled towards the industrial aspect, then count on Duqm SEZ.

Advantages of Setting Up a Company in Duqm SEZ:

• Tax exemption for 30 years
• 100% foreign ownership
• No minimum capital requirement
• No restrictions on currency
• 100% Repatriation of profits and capitals invested and earned
• Free movement of goods inside the zone
• Visa for Expatriates are available
• Network link between the Gulf and International markets
• Labour department to issue the permits for foreign workforce
• Stable zone for business activities
• 10% Omanization rate stipulated by SEZAD Board Freedom to establish a Representative Office.

Documents Needed to Set Up a Company in Duqm SEZ

• Copy of Owner’s ID, Founders and Partners
• Sign of the signatories according to Annex (1) of Investment application
• Description of Investment project and needs according to Annex (2) of Investment application
• The Memorandum and Articles of Association
• When a partner is a legal person, minutes of the meeting along with the partner’s share needs should be submitted.
• If Branch officer, a letter from parent company is needed stating the responsibility of business activities taken care of by the Parent company.
• The certificate of Company registration
• Official letter from owner of the establishment requesting the registration of Branch Office
• When the applicant holds a work visa, a No-Objection Letter from the current sponsor has to be submitted

Ways to Set Up a Company in Duqm SEZ

Setting up a business in Duqm SEZ requires the few steps:

• Submit the application form called Plot Application Form (PAF) by filing the essential details
• Agreement to be drafted based on Contract term, commercial terms and land lease price
• The No Objection letter obtained from the Ministry of Environmental and Climate Affairs (MECA)
• Due diligence process performed on the promoters and main shareholders
• Payments to be paid appropriately
• After payments, the company incorporation certificate needs to be collected from the Oman Chamber of Certificate and Industry.

Facilities Given by Duqm SEZ

• Vast ground spread up to 2000 sq. km. for the business set up.
• The diversified environment for different business activities.
• The Logistics and Marine hub.

Blackswan Business Setup can help you in Company Registration Process in Oman. For more details visit https://blackswanbss.com/company-formation-in-oman/

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