Starting a business is a dream for most individuals. However, before setting up a business, it is essential to conduct thorough research. While you plan to start a business, choosing a free zone location is ideal. Since many free zone locations are available in Oman, starting a business in the Sohar free zone is considered one of the best choices ever.
However, in this write-up, let's discuss the Sohar free zone Oman in detail and why it is considered the best place for startups.
If you wish to set up a startup in the Sohar free zone, you must learn about the benefits that one would gain.
100% foreign ownership
A 10-year exemption from corporate tax
No customs duty
Single-window licensing procedure
The Sohar free trade zone provides multiple sectors with many business opportunities. The key sectors comprise:
Petrochemicals
Plastic
Iron, Steel, Aluminium
Auto Parts
Grains
White Goods
Furniture
Ceramics
While opting for Sohar free zone company registration, you must follow the basic procedures. By following the simple procedure, you will get an idea of what you must focus on.
Select a Business Structure
Choosing a business structure is the primary consideration when you wish to start a business. Before choosing a business structure, make sure you have conducted thorough research. In addition, if you need more clarity about finding the proper business structure, you can seek assistance from a business setup consultant.
Finalize a Business Activity
After choosing a business structure, you must take your turn choosing a business activity. While selecting the business activity, conduct thorough research about the leading activities used in the Sohar Free Zone Oman.
Finalize a Company Name
Once you choose a suitable business activity, you can choose a name for your company. The choice of name must be unique and should fall under certain criteria. To learn about it, you can seek the assistance of a business setup consultant.
Fill Out the Application Form
After finalizing the company name, you have to complete the application form. The application form should contain the relevant fields that are suitable for your business. Moreover, if you have any queries regarding your application form, you can seek the support of Business Setup Worldwide.
Apply and Wait for Business Approval
After filling out the application form, you have to submit the form for approval. The time taken to get approval may vary depending on various factors. To know the time taken for your business approval, you can contact Business Setup Worldwide.
Obtain the Business License
Once you complete the application form, you must focus on applying for the business license.
Following are a few licenses available in the Sohar free zone Oman
Industrial License
Light Manufacturing and Assembly License
Logistics License
General Trading License
Service Provider License
To know in detail about the license type and its requirements, you can seek assistance from Business Setup Worldwide.
Submit the necessary paperwork for the Sohar Free Zone company formation
After applying for a business license, you can submit the documents required for the Sohar free zone company formation.
A copy of shareholders' passports
Shareholders signed and filed the investor form
Relevant documents if any shareholders are foreigners in Oman
Memorandum & Articles of Association
Free Zone Company Board Resolution
Company Paper for an Oman Commercial Registration
Open a Corporate Bank Account
Once you submit all the paperwork required for Sohar free zone company registration, it is time to open a business bank account to carry out your future transactions. Opening a bank account is sometimes complicated. To shorten the procedure and open your account on time, get assistance from Business Setup Worldwide.
While setting up any business (either small- or large-scale), the company setup cost bothers most people. So, before running at the last moment to know the price, you can contact Business Setup Worldwide to learn about it in a detailed way. Also, the Sohar free zone company formation differs depending upon various factors. To know more efficiently, get in touch with us.
Henceforth, I hope the following information has given you adequate business knowledge. In addition, if you would like to explore more about the Sohar free zone company registration requirements, contact us. We are always ready to assist you with any business queries. Also, the experienced business experts at BSW will provide you with additional information, from company incorporation to bank account assistance.