How to register a company in Oman

How to register a company in Oman

Omanis  one of the gate way in the middle east region. Which share its border with several countries which are United Arab Emirates, Saudi Arabia and Yemen. And also share its marine border with Iran and Pakistan. Oman has an influence control on Hormuz fetch.Which is the strategic way between Arab and West. Oman is the world’s twenty fifth oil reserves country and the country is standing on its high-income economy.

To start business in Oman is easy and its familiar with western law. So the foreign investors who are wants to establish business in Oman they have to go under few terms and condition.In Oman if the foreigners want they can own 100% ownership of the business by meet some government rules or if they want to establish their business in the Omani free zones. To registered the business in Oman the foreign investors need to registered their business in Ministry of commerce and industry (MOCI).

• Where the entrepreneur can check their company name availability through online. To accomplish the registration the entrepreneur needs to submits few documents to the Ministry of Commerce and Industry which are :
• passport (photocopy) or identity cards of shareholders.
• passport (photocopy) or identity cards of all intended authorized signatories.
• Approved authorized signatory form with the names and sample signatures of all authorized signatory with resigned.
• Applications for any specific license which is depending on the business activities.
• Certificate of the initial capital deposit form the bank.

Wait after submission

After submission all those documents the applicants need to pay all those fees along with the capital of the company including the application tracking number, and indicates his/her preference for the notification on the status of the application by phone,SMS or e-mail.

The following relevant public institutions are housed at the one-stop shop which are :

• Ministry of Commerce & Industry
• Ministry of Civil Defense
• Royal Oman Police
• Muscat Municipality
• Chamber of Commerce
• Ministry of Regional Municipalities
• Environment & Water Resources 
• The Ministry of Manpower.
• The one stop shop are providing the facilities to the registered company from the Oman chamber of commerce and industry.

To registered the company with Oman chamber of commerce and industry the applicant submit a complete application form with company structures and pay all the fees according to the company grade.Which are :

- Excellent grade type companies needs around OMR 250,000 for start up capital and registration fees need around OMR 585 and the annual renewal fees are OMR 279.

- If the company are in first grade then the company start up capital in between OMR 100,000 to 249,000 the registration fees are OMR 128 and the annual renewal feesare OMR 225 and the annual renewal fees are OMR 73.

- For the second grade company  the company needs start up capital in between OMR 50,000 to 99,000 the registration fees are OMR 128 and the annual renewal fees are OMR  73.

- If the company are in third grade then the company start up capital in between OMR 25,000 to 49,000 the registration fees are OMR 78 and the annual renewal fees are OMR 45.

- If the company are in fourth grade then the company start up capital between OMR 3000 to 24,000 the registration fees are OMR 33 and the annual renewal fees are OMR 25.

-Company lease agreement

- Company statutes (memorandum and articles of incorporation)

- Chamber of Commerce and Industry affiliation certificate

- Agency Certification (if applicable)

To fulfill the registration process it needs three working days and the OMR 40 for business registration (for five years)+OMR 128 for chamber of commerce +OMR15 for registration with Muscat Municipality .

The company must need to registered its business under the tax department of the Finance Ministry which needs one working day and no charge applicable for that.

(Agency: Tax Department of the Finance Ministry)

Company must registered its business under the Ministry of Manpower.Which needs one working day and no charge need for this.(Agency: Ministry of Manpower)

For establishing as a company the company needs to make a seal or stamp for its authorized signatory.Which takes two working days and OMR 50 will charge for that. (Agency: Seal maker)

So today Oman is the most iconic place for the foreign investors for its resources. But according to the report of https://www.cia.gov from 2016 the oil price is going down which creates a large deficit of Oman’s budget which is nearly $11.3 billion. And the wane of oil in Oman which is the alert of its economy.Which is totally based on oil resources. According to the estimate the contribution  of oil sectors in GDP is 46% but in 2020 it become only 9%.So it’s a time of diversification of its economic mind and move to other resources which is gas and tourism.

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Small business ideas in Indonesia

Small business ideas in Indonesia

Small business ideas in Indonesia

Indonesia is a civil country in the southeast Asia. Where you can accomplish your aspiration.Here are lots of opportunities to do business. Because business is the way where you can exchange your resources with other and people of Indonesia are the devoted soul. Without business, in this century no one prospers their nation. When you share your resources & your knowledge of that time you also build your knowledge and your money too. In Indonesia, you can do the large business and small business too.

The last couple of years small business are growing rapidly in Indonesia. Around six million businesses are grown last decade but the lack of loans the root level businesses are not kept up. According to the statistics of the Bank Rakyat Indonesia (BRI), they have highest market shares to the small businesses which are 37.2% now but two years ago it was 28.1%.The government of Indonesia wants to pursue the Bank Rakyat Indonesia(BRI) regarding their small business lending process which is also renowned as micro credit. And few others lenders like Koperasi who has 12.3% share, FIF which is also known as Federal International Finance with 7.4% and AdiraDinamikaMultifinance (7.2%).

The Indonesian government is encouraging the financial institution regarding the lending of small businesses financial programs. In Indonesia around forty-two million small businesses where only eleven million or 26.2% have the business loan.

In Indonesia here are lots of small business opportunities from very root level to upper level. Here are lots of small business ideas which have future for those you need money & here is those financial solutions places who is solving the problem. Those are:

Impartial  Financing	Business future depends on money.If you have potentiality but you don’t have money you can’t run the business. So you can overcome this problem by the investors who have the money but not acknowledged regarding your plan or don’t know how to do business. By them, you can manage your money for business but for that, you have to show your potentiality and imperial thought which can convince the investors and build confident to trust your plan for invest. But the problem is of this kind of business you have to keep passion because of the most of the control in hand of the investors. In Indonesia here is lots of small business opportunities are available. Those are:
Furniture factory	A resourceful cultural minded country has lots of cultural assets. In Indonesia, various ethnic’s are living together. And that various kinds of thought and creativity make the innovative things. Like furniture in Indonesia are popular for their raw materials so the foreigners who come to Indonesia as a tourist they are the big fish they buy the furniture and take that with their home. Also, the entrepreneurs can do furniture the remodeling businesses for sale.
Hotels	Indonesia is famous for their tourist business. Every year around five million tourists has visited Indonesia. To manage the proper accommodation hotels are necessary for the foreigners. So it is the big investment sector where you can open your own hotel and earn well amount of money for yourself and for the nation as well.
Meat processing and Packaging	Indonesia is a Muslim country and Muslim’s are the meat lover. And the foreigners are love to eat beef so you can build your own cattle farm produce meat and packet the meat proper way and also able to export it too.
App Developers	App developers are making good money in this days because of the improvement of the technology anybody can earn money from anywhere for the bless of digitalization. To develop the apps you need the basic idea today's most of the people are using android set so mobile apps or other software are the valuable products for today's market.
Internet Service Provider	Indonesia is a top social network user in the south East Asia region. So the velocity of Internet is highly demanding in Indonesia. So as ISP (Internet service provider) you can improve your status. Because of fast , reliable internet business can make your fortune.
Fashion designing	You can build your business to be a fashion designer or a dressmaker. Indonesia is a country where several ethnic people or several cultures are living In harmony. A country’s culture reflects by their dress which attracts the foreigners. So be the fashion designers you can earn lots of currency.
Tax consultant	Tax is a big headache for the business owners. For reduce the tax or to avoid the unnecessary tax the business owners can communicate with the tax consultant so you can open a consultancy firm without investing that much money. It is also profitable.
Travel Consultant	Indonesia is famous for its tourism business where the travel business has huge income opportunities. Lots of foreigners are coming to Indonesia for business or pleasure purpose.so you can open a travel company for guide the tourist regarding their desires. You can support them regarding their visa processing, airport pick-up and drop-off, hotel booking etc. You can earn a lot from that business.
Business Consultant	In Indonesia, lots of foreign investment are on the table. Foreign investors are investing a lot in the joint venture with their local partners. So they are looking for the trustable consultancy firm who can guide them regarding their business plan where the business owners can understand the law and make the proper steps regarding their business. As a   business consultant, you can earn the good reputation and the good number of money.

Business in Indonesia is always profitable but you have to do business in Indonesia with proper knowledge. Small business are the life of all businesses.Starting the business in Indonesia is little complicated because it's based on paperwork. For the local company, the Indonesian business is standing on the law of PT.

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