The ways of doing business in the Sultanate of Oman are evolving!
In a majority of the cases, it is required to establish a presence in the country in order to participate in a project. There are many ways to set up a business in Oman. It will be our role to find the “ideal” or “optimal” solution for you.
The pre-selection and selection of a local partner in the Sultanate of Oman depend on the requirements of the initiator of the business or project which may include without limitation or restriction the object and purpose or in other words the activities, products and services, organizational and operational structure, financing and funding, active or passive engagement and involvement and roles and responsibilities in the proposed business.
While it is required by the local laws to engage or involve a local partner, a natural person with the nationality of the Sultanate of Oman or a legal entity fully owned by a natural person with the nationality of the Sultanate of Oman, who shall hold at least thirty percent of the shares of the proposed business (if it will be registered under and regulated by the Ministry of Commerce & Industry), it is permitted to hold up to one hundred percent of the shares of the proposed business (if it will be registered under the Sohar Free Zone, Salalah Free Zone and Al Mazunah Free Zone as well as the Duqm Special Economic Zone and Knowledge Oasis Muscat Economic Zone).
The most relevant advantages for the engagement or involvement of a local partner are the support in terms of business development and stakeholder management in the country. Depending on the profile of the local partner, he or she may be able to supply you with business intelligence and project information and to advise or consult you on policies, strategies and/or tactics in the private and public sector in advance.
The process of partnerships and sponsorships is divided into:
(Pre-)Definition of the roles and responsibilities of the partners ...to define the profile of an “ideal” candidate for a collaboration and cooperation with you or in other words to determine your expectations from the potential or prospective partners with the most relevant background, credentials and experience or expertise.
(Pre-)Selection of the partners ...to select a number of potential or prospective partners based on the profile of an “ideal” candidate and to narrow down the choices.
Preparation for the negotiations and negotiation with the partners ...to outline or summarize your terms and conditions for a collaboration and cooperation with the partners or in other words to define the “cornerstones” or key elements such as the name, object and purpose, location, term, shares, organs such as shareholders, directors and officers, rights and obligations, profits, dividends, audits, disputes and others.
Development of a feasibility study or business plan ...to set out the “roadmap” with your partner including but not limited or restricted to short-, mid- and long-term financial and non-financial objectives.
The process depends on the requirements of the initiator of the business or project and the form of collaboration and cooperation (such as agencies, co-operations, joint-ventures and partnerships).
It would be our pleasure to learn more about your plans in the Sultanate of Oman and the object and purpose or in other words the activities, products and services, organizational and operational structure, financing and funding as well as roles and responsibilities in the proposed business in order to determine your options.
We have a network of local partners including members of the royal family, current and former senior administration officials and key businessmen and -women.
We are in a position to assist you to pre-define and define the roles and responsibilities of the partners, to pre-select and select the most suitable local partners, to prepare for the negotiations and to negotiate, to develop a feasibility study or business plan and to form, incorporate and register the proposed business.
Please click on the link and reach out to our experts and specialists to discuss your requirements. It would be our pleasure to assist you!
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