Ambassador H.E Mr Mubarak Bin Salem Al-Zakwani
Ambassador H.E Mr Mubarak Bin Salem Al-Zakwani

The Sultanate of Oman celebrates 51st National Day

By Brandstories Time of article published Nov 18, 2021

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Message from Ambassador H.E Mr Mubarak Bin Salem Al-Zakwani

On the occasion of the 51st National Day of the Sultanate of Oman on 18 November 2021, I extend my heartfelt greetings to both the people of the Sultanate of Oman and the Republic of South Africa. The two countries enjoy good relations emanating from shared common principles, since the start of the bilateral relationship in 1995.

The Sultanate of Oman understands the reasons South Africa had to close its Embassy in the Sultanate of Oman due to the effect which the pandemic had on the economy but looks forward to re-opening the Embassy of the Republic of South Africa in the Sultanate of Oman after eliminating the economic consequences it experienced, not only because of the geographical and economic importance, but also because of the rich culture, ancient civilization and political dimensions of the Sultanate of Oman.

The Sultanate of Oman is a country that welcomes South Africans, as it has a flourishing South African community in the country. The Embassy invites all South Africans to discover the Sultanate of Oman, where the authentic Arab culture, diverse terrain and advanced infrastructure ranked in seventh place on Lonely Planet’s Top 10 countries to visit in 2022.

The Sultanate of Oman offers a 14-day visa exemption for the purpose of tourism; it also offers an entry visa to South African citizens upon arrival or via electronic services “e-visa”. After recent changes to the residency and domicile laws and ownership laws to encourage investors, the Sultanate of Oman now also offers many investment opportunities in the fields such a mining, tourism, food, agricultural, security, industrial, technology and other sectors.

The distinct geographical location and its ports along the world’s trade lines are aided by modern infrastructure and flexible laws, among many attractions that help the Sultanate of Oman in its plans to achieve the desired economic diversification away from oil.

We wish only the best for growth and prosperity between Oman and South Africa. May God bless our countries.

INVEST IN OMAN

Oman is at the nexus of east-west trade routes, connecting markets in Europe, Asia, North America and Africa.

Less than three hours flight from over a third of the world’s population. Connected by direct flights to cities in the Gulf, Africa, Asia, Europe and North America Shipping times on average 30 to 40% lower than competing locations. 15 days to New York, 12 to the UK and 8 to Singapore.

In an effort to diversify Oman’s economy, the government is focused on developing manufacturing, logistics, mining, tourism, fisheries, education, healthcare and ICT as well as encouraging public private partnerships.

INVESTMENT INCENTIVES

DUQM SPECIAL ECONOMIC ZONE

  • Tax exemption for 30 years from the date of starting the business – renewable for a further 30 years. This exemption does not apply to banks, financial institutions, insurance and reinsurance companies, telecommunication service providers or land transport companies - unless they are registered with the Special Economic Zone at Duqm and conduct business within the boundaries of the special economic zone.
  • 100% foreign ownership.
  • Land is available on long-term lease – this includes heavy, medium and light industrial land; commercial office space, warehouses and storage; residential accommodation; as well as beachfront tourism property.
  • Exemption from minimum capital requirement stipulated in the Commercial Company’s Law and other laws.
  • No currency restrictions.
  • Exemption from Commercial Agency Law provisions.
  • Free repatriation of profits and capital.
  • Usufruct agreements up to 50 years renewable for similar period.
  • Telecommunication services available at competitive rates.
  • Freedom to import goods (except legally banned imports) without prior approval or permit unless classified as explosives or chemical products. To import such products, investors must abide by the laws and regulations in force.
  • Imported goods are not subject to any restrictions 65 related to the retention period in the Zone, unless otherwise specified by the Board of Directors. Investors are also free to transport these goods to any other free zone within Oman.
  • Finished or assembled products are treated as locally produced goods.
  • Enterprises have the right to open a representation office inside the custom jurisdiction subject that they are registered in accordance with the laws and regulations in force in the Sultanate.
  • The Special Economic Zone at Duqm’s one-stop shop provides all necessary services for investors. Through this window, investors can obtain all necessary permits, licenses, approvals and visas as well as commercial registration.
  • Required Omanisation rate is 10%.
  • Speedy and efficient processing of expatriate manpower applications. The process shall not take more than five (5) working days from the date of submitting the application.
  • Visas for expatriates and their immediate family members will be issued by the Passport & Residence Department that is being set up in the area.

SOHAR PORT

Sohar now ranks as one of the world’s fastest growing ports and in free zone developments
  • Access to gas, electricity, solar power, water.
  • 100% foreign ownership permitted.
  • Long-term leases (industrial or logistical use).
  • 0% personal income tax.
  • Exemption of corporate tax for up to 25 years.
  • Free repatriation of capital and profit.
  • Experience with FTA with the US and other countries.
  • Highway links to Muscat, the UAE and Saudi Arabia.
  • Low local labour requirements (15%).
  • No import or re-export duties.
  • Full support “one-stop-shop” service provided for company registration, licensing and visas.

SALALAH FREE ZONE

  • 100% foreign ownership permitted.
  • 0% import and re-export duties.
  • 0% income tax.
  • Tenants are able to take advantage of FTAs with the US, Singapore, Iceland, Liechtenstein, Norway, Switzerland and the GCC.
  • Serviced land available for long-term lease at competitive rates for construction of facilities.
  • Warehouses of different sizes.
  • No minimal capital requirements when establishing a company or representative office.
  • Easy access to markets in the GCC, East Africa and India.
  • SMEs may be eligible for state-funding at competitive rates.
  • No import or re-export duties.
  • No restrictions on repatriation of capital.
  • 20% Omanisation.
  • Full support service provided for company registration, licensing and visas.
  • Up to 30-year corporate tax holiday.
  • Utility rates according to published government tariffs.

AL MAZUNAH FREE ZONE

  • Income tax exemption on profits for 30 years without the need for income declaration.
  • No restrictions on remittances and foreign exchange.
  • Exemption from commercial agency law.
  • Exemption from customs duties.
  • Permission to import all eligible goods into Oman.
  • Exemption from minimum investment requirements.
  • Freedom to use foreign currencies.
  • 100% ownership of capital invested in project.
  • Yemeni workforce allowed to work in the free zone without entry visa or permanent Omani residence permit.
  • 20% Omanisation for operating companies.
  • Issue of certificates of origin - free zone products or foreign origin.
  • Factories in the free zone granted national certificate of origin.
  • Residence visas for non-Omani investors.
  • Affordable Omani and Yemeni products available through a single common market.
  • Adoption of Yemeni customs data for goods received from Yemen.
  • Establish representative office within the customs territory of Oman

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