Business Set Up in Al Mazunah Free Zone
The Sultanate of Oman aims to build the nation as an investment platform by attracting various business investors from all around the world. They have been making efforts to create different free zones and issue business-friendly policies in the country.
One such free zone is the Al Mazunah Free Zone Oman, situated in the Dhofar region in the southwestern part of the country. It covers an area of 15.3 million sqm and is connected to the Yemeni border, providing endless opportunities to expand in the markets of the Middle East, Africa, and beyond. This strategically located free zone is an attractive place for millions of expatriates and business people who wish to establish successful businesses and enjoy the benefits provided.
In this article, we will look at the investment opportunities, benefits, and the process of setting up a business in Al Mazunah Free Zone.
Investment Opportunities in Al Mazunah Free Zone Oman
This free zone invites investors from Oman, Yemen, and other Arab countries. It is highly beneficial to both regional and international investors due to the wide range of incentives and exemptions they can enjoy in Al Mazunah.
Oman includes various activities and sectors, and some of the favorable opportunities are:
- Commercial Sector – It includes storing and trading of goods, cars, spare parts, fruits and vegetables, machine equipment, etc.
- Light Industrial Sector – The food industries, plastic, clothes, wood.
- Assistance Service Sector – Transport, distribution, clearing, restaurants, translation office, printing, fax, etc.
Investing in these and other developing industries can be highly promising for investors due to advantages such as allowing imports in the zone without an import permit, low Omanisation rate, exemptions, the one-stop shop system, etc.
Steps of Setting Up a Company in Al Mazunah Free Zone Oman
Do you wish to start a business in Al Mazunah Free Zone Oman? Don’t worry because the below steps will give you brief information and help you form your dream business in the Oman Free Zone:
Step 1 – Submit an Application: The first step is to apply to set up a company by submitting an application form on the official websites of the Al Mazunah Free Zone. This form must contain the necessary details and must be sent for review.
Step 2 – Registration at the Chamber of Commerce: In the next step, the entrepreneurs must register the business entity at the Chamber of Commerce in Al Mazunah. However, the registration will be approved only after the nature, name, and business activities of the company have been decided.
Step 3 – Submit Necessary Documents: The business owners must prepare the required documents for a better understanding of the company, future proofs, and obtaining a license for the business.
Step 4 – Registration with the Municipality: After the registration is completed with the Chamber of Commerce, the next step is to register with the Municipality and obtain the certificate, which allows the entrepreneurs to complete the company formation in Oman and start the functions of the business.
Documents Required to Setup a Company in Al Mazunah Free Zone Oman
The documents that are required to be prepared and submitted for setting up business in the Oman Free Zone are as follows:
- Detailed Business Plan.
- Letter of Intent.
- Company Profile.
- Company’s Financial Report.
- Company Registration Document.
- Tenancy Agreement for Lease of Plot.
- Industrial and Environmental Approval.
- Chamber of Commerce Membership Certification.
- Industry Production Sketch.
Benefits of Setting Up a Company in Al Mazunah Free Zone Oman
Company registration in Oman has various benefits, and they are mentioned below:
- A Well-Built Communication Network.
- 100% Foreign Ownership.
- Initial Tax-Free Zones for Around 30 Years.
- No Minimum Capital Requirement.
- No Personal Income Tax.
- Yemeni Nationals are Permitted to Work without Visas or Work Permits.
Facilities Provided by Al Mazunah Free Zone Oman
Al Mazunah offers the following facilities for easy business operations:
- Commercial Mall.
- Warehouses.
- Administrative Centres.
- Multi-Purpose Areas.
- Green Parking Zones, etc.
Thus, you can see that the platform provides multiple facilities to attract foreign investors. The setting up process becomes easier if you have a helping hand.
Sanad Services Center is here to help grow your business. We are a team of experts who aim to serve and help business investors in the company incorporation process. If you plan to set up your business in Al Mazunah, contact us today; we’d be glad to assist you.
Frequently Asked Questions (FAQs)
-Commercial Mall
-Warehouses
-Administrative Centers
-Multi-purpose Areas
-Green Parking Zones etc.