The process of gaining employment for foreign nationals in the country of Oman has been increasingly regulated as part of the Omanisation initiative. Once a foreign worker is officially employed by an Oman-based company, the employment visa process starts.
According to a recent “Oman Observer” report, a $350 million investment agreement was reached between a UAE investor and Oman’s Salalah Free Zone for the building of Technology City.
As of March 31st, 2020, tax authorities are now providing tax relief for corporations that are currently doing business in Oman and have been affected by COVID-19 as well as any Government imposed precautionary measures that were put in place to counteract the pandemic in Oman.
In the last 40 years, Oman has made significant progress towards economic growth. Besides, it is one of the most favourable locations for business investment in the Middle East region. Some of the top factors that attract foreign investment into the country are business friendly climate, political stability, world-class infrastructure and ease of doing business, among others.
New foreign investment law in Oman is all set to simplify and facilitate the processes for getting permits, licenses and approvals required by foreign investors. Small businesses generally relate to the regular lifestyles of people. So, to make it easier for such businesses to find their foundation in Oman, the foreign investment law ratifications have […]