How to Start a Business in Al-Mazunah Free Zone?
Start a Business in Al-Mazunah Free Zone
Are you thinking about starting your business in Oman and struggling to find an appropriate area for it? In that case, we recommend you start your business in the Al-Mazunah Free Zone. However, you must follow some steps to begin your company in this attractive free zone. Today, we will disclose the guide to Business setup in Al-Mazunah. Plus, we will discuss the advantages you can enjoy with starting your organization in this area.
Al- Mazunah Free Zone – Overview
The Dhofar area is a location where you can discover the Al-Mazunah Free Zone, which is a 4,500,000 sqm Oman southwest. The free zone welcomes millions of expatriates like you who want to set up their business in this area. It was launched in 1999 and has witnessed growth in the business establishment until now. You might be surprised that the area attracts numerous industries, like media, finance, commerce, and more.
You might be delighted to know that countless investment opportunities and modern infrastructure have been enhanced in the Al-Mazunah Free Zone. Are you wondering about more? You can enjoy profits and benefits by starting your company here. Indeed, you have read it right! You can enjoy countless advantages by starting your business in this area. Let us move towards the next section to explore the benefits of starting your organization here.
What are the advantages of setting up your corporation in the Al-Mazunah Free Zone?
There are uncountable benefits that you can enjoy by starting your company in the Al-Mazunah Free Zone. Let us look at the top benefits of beginning your business in this free zone:
1. Tax friendly policies
You can enjoy tax-friendly policies by starting your business in the Al-Mazunah Free Zone as there is nil income tax on personal income, lower income tax on businesses, and relief on double tax treaties that this country has over 34 countries. Furthermore, you can enjoy tax exemptions as there will be no income tax on your company’s profit generated in the Free Zone for 30 years without income declaration.
2. Complete ownership
As a foreigner, you can also enjoy complete or 100% ownership over your company as Oman allows you to have 100% foreign ownership in a Free Zone. It gives you total control over your business without a local sponsor. In addition, the country permits 70% ownership in other regions. That is because you should consider starting your company in this free zone.
3. Transaction flexibility
As a Free Zone company owner, you can also enjoy the flexibility of transacting and dealing with foreign remittances and exchanges in this free zone. In addition, you can access the international market by initiating your business in the Al-Mazunah Free Zone, which facilitates commerce and expands commerce prospects.
Top opportunities for investment in the Al-Mazunah Free Zone
We know you might be convinced after learning the advantages of starting your business in the Al-Mazunah Free Zone. However, you might struggle to find the appropriate business or investment opportunities as the free zone gives you countless investment opportunities. Let us take a glance at the top investment opportunities:
- You can invest in the commercial sector including storing and trading cars, spare parts, goods, and more.
- You can also invest in the assistance service sector, including transport, restaurant, clearing, and more.
- Investing in the light industrial sector, including plastic, clothes, wood, and more would also be reliable for you.
Documents needed to initiate your business in the Al-Mazunah Free Zone
Before diving into the process of beginning your company in the Al-Mazunah Free Zone, you should gather a few documents. Below is the list of top documents you need to collect to start your business in this free zone:
- Identity Cards of Your Shareholders
- Filled Company Registration Form
- Shareholders’ Visas and Passports
- Chamber of Commerce and Industry affiliation certificate
- Tax Registration Certificate
- Certificate of Initial Deposit
- MoA and AOA
How to begin your company in the Al-Mazunah Free Zone
Till now, we have learned all about the basics for starting your business in the Al-Mazunah Free Zone. Now, it’s high time for you to start your journey to begin your company in this free zone. The steps you should follow to initiate your business in this area:
1. Submit the application
Initially, you should submit the online application form to the official or original website of the Al-Mazunah Free Zone. You should include all the required information accurately because the authority will conduct a comprehensive review of your application.
2. Register at the Chamber of Commerce
After submitting the application, you should move forward to register your business with the Chamber of Commerce in the Al-Mazunah Free Zone. However, it would be best for you to decide your company’s nature, trade name, and business activities before registering it with the Chamber of Commerce in this free zone. It is important to remember that securing registration at the Al-Mazunah Chamber of Commerce is necessary for registering your business entity.
3. Submit the required documents
Once you have registered your company with the Chamber of Commerce in the Al-Mazunah Free Zone, you should submit the required documents mentioned in the previous section of this article. However, you must submit a few extra documents in particular cases.
Remember, this step is essential for a better understanding of your company, obtaining a license for your business, and future proof. Therefore, you should prepare and submit the required documents with the help of Flyingcolour Business Setup as our experts will help you submit the accurate documents.
4. Register your business with the municipality
Once you have completed all the previous steps, you should register your business with the Municipality in the Al-Mazunah Free Zone and acquire the certificate. With the help of this certificate, you can complete the process of formation of your company in the Al-Mazunah Free Zone and begin your business operation in this free zone.
How can Flyingcolour Business Setup help you?
There are countless ins and outs that you should consider while Starting enterprise in Al-Mazunah. As a beginner in this country, you might struggle to set up your business by keeping these ins and outs in your mind. Flyingcolour Business Setup can help you to start your organization in this free zone. We can assure you that you didn’t encounter any problems while starting your business in this area.
To learn more about business Al-Mazunah Free Zone, book a free consultation with one of the Flyingcolour team advisors, Simply call +97144542366 or send WhatsApp messages to +971554413566. you can also drop an email to info(at)flyingcolour(dot)com.
Please note that this article was published on 10/06/2024 by the federal policies and updates at the time of writing. For the latest info please talk to our consultant.
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