Oman offers a well-developed financial market and ease of access to loans facilitates. The ease of access to loans is amongst the highest in the world, Oman currently ranks 9th globally. Banks in Oman have highly regulated frameworks that place its system as one of the best in the GCC.

Oman’s bank credits to the private sector grew at a CAGR of 10.2% between 2009-13 and reached US$37bn in 2014. The increased levels of credit towards the private sector provides an attractive climate for foreign players looking to invest in Oman.

In an effort to support the growth of start-ups and small businesses, The Central Bank of Oman (CBO) has specified that 5% of commercial bank loans be provided to SMEs. Oman Venture Capital Company (Ethmar) has recently been established with an initial fund of US$27million - the Fund is designed to support high-risk projects.

No personal income tax

Tax exemption applies only on Industrial companies for 5 years starting from operation date (Royal decree 9/ 2017)

  • 15% flat tax for taxable income

Tax rates depend on the nature of the activities performed by the company and on the percentage of Omani ownership within the company.

Oman offers a 5 year tax holiday for companies carrying out the following:
  • Mining pursuant to the provisions of the Mining Law.
  • Export of locally manufactured or processed products.
  • Promotion of tourism.
  • Dairy farm products and processing.
  • Fishing and fish processing.
  • Educational institutions and private hospitals.