Business For Sale Oman | Business For Sale Listings
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Things to Know About the Business for Takeover Oman
Oman is an Arab country near the Arabian Sea. The capital is Muscat, which is also the largest city, and Arabic is the national language. However, English is widely spoken. The total land area is 309,500 square kilometers with a population of 4,424,762 Omani. Its official religion is Islam, and Rial (OMR) is their currency. The country’s climate is hot and dry in the interior and humid along the coast. Hence, it has one of the warmest climates in the world.
Oman’s Gross Domestic Product (GDP) is worth 79.29 billion US dollars, and the GDP per capita is $15,663.90. The Corporate Tax Rate stands at 15 percent, which is still leaving a large percentage to the companies’ net income.
You must adhere to the country’s regulations when doing business in Oman. As per the latest annual ratings of World Bank, Oman is ranked 78 among 190 economies in the ease of doing business index. Citizens of the Cooperation Council for the Arab States of the Gulf, which is originally known as the Gulf Cooperation Council (GCC), do not require a visa to visit Oman. These are Bahrain, Kuwait, Qatar, Saudi Arabia, and the United Arab Emirates. Other nationals need to apply for a visa online (eVisa) since the country stopped issuing visas on arrival in February 2019.
Oman is also a safe country, and serious crime is rare. However, according to the study, it has the second-highest death rate from traffic accidents in the world. You will encounter some challenges when staying in Oman, and that includes climate condition which is too hot most of the time, local customs and culture that you must know before the visit, and business etiquette especially when you’re there for work purposes. Learning some basic Arabic words and phrases will go a long way and establish a good working relationship.
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