Oman`s Sohar Freezone facilitating investment

27/06/23

Oman`s Sohar Freezone has extended its competitive rates for businesses seeking to obtain a General Trade License (GTL). This initiative will drive growth by encouraging global enterprises to base themselves within the complex and utilise reduced rates for up to three years.

Companies can save up to 50% on regular rates and begin trading immediately by using Sohar`s one stop electronic portal to secure all required permits. Investors can also enjoy 0% personal income tax, 0% import and re-export duties and a corporate tax holiday of up to 25 years, with no minimum capital requirement.

Businesses seeking to establish themselves can also access a complete working solution through Corporate Parks, Sohars commercial office partner, which offers a reduction of between 15 and 40% in office rental rates for up to three years. Meanwhile, the partnership also offers businesses access to meeting room space with high-speed internet and utilities included for one competitive annual fee.

So far Sohar freezone has attracted investment from diverse sectors such as automotive, metals, polymers and chemicals. Such businesses have all benefitted from the exceptional transport links which provide an ideal trade gateway to neighbouring countries and beyond. Sohar Port and Freezone is positioning itself as a key logistics hub based on its strategic location and superior benefits. It is focussed on sustainable development and cutting-edge technology.

Business Start Up Oman offers a network of experts and specialists within the lifecycle of a business. We offer expertise in Market Research and Assessment Oman, Oman Business Case, Oman Business Model Development, Feasibility Study and Business Plan Oman, Organizational and Operational Structuring Oman, Oman Sponsorship and Partnership, Company Formation Oman among others.

Please click on the link to learn more about the opportunities and possibilities in the Sultanate of Oman as well as the initiatives of Business Start Up Oman.

Other News

News 25 - Thumb

Oman Airports celebrates record profits in 2023

Oman Airports and its subsidiaries have achieved remarkable growth in both financial performance and operational efficiency as highlighted in a latest report.

According to Oman Airports...

Read more
News 24 - Thumb

Oman Ministry showcases investment opportunities

Omans Ministry of Commerce, Industry and Investment Promotion recently promoted notable investment opportunities to foreign ambassadors and heads of global diplomatic missions.

The forum was hosted...

Read more
News 23 - Thumb

Oman unveils OMR 500 million waterfront project in Muscat

Oman’s Ministry of Housing and Urban Planning (MoHUP) has announced plans for a reimagined waterfront project in the capital covering 3.3 million square metres.

Termed as the Al Khuwair Muscat Downtown...

Read more
News 22 - Thumb

Oman`s National Finance continues to support SMEs

Oman`s National Finance Company has further strenghtened its commitment to local enterprises by extending its collaboration with Sharakah.

Sharakah is an organisation...

Read more
News 21 - Thumb

Oman Free Zones attract massive green industry investments

Oman's Public Authority for Special Economic and Free Zones (OPAZ) has revealed total invested capital has exceeded OMR 17 billion (USD 44 billion) as of Q2 2023.

Several contributing factors include...

Read more
News 20 - Thumb

Oman Vision 2040 implementation progress impresses IMF

Oman has made substantial progress in diversifying its economy and implementing its Vision 2040, according to the International Monetary Fund (IMF).

The IMF has recognised the Oman governments decisive...

Read more
News 19 - Thumb

Omans 2024 budget targets priority sectors and social welfare

Oman’s state budget for 2024 aims to maintain spending levels in essential sectors including education, health and housing. In addition, it prioritises the development and investment in strategic projects...

Read more
News 18 - Thumb

Oman attracts foreign direct investment worth USD 59 billion

Omans foreign direct investment (FDI) reached almost OMR 23 billion by the third quarter of 2023 according to preliminary data from the National Centre for Statistics and Information (NCSI).

The oil...

Read more

Page Break