INCENTIVES

• 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.
• Up to 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 of 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 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 Omanization 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