Oman Geography, Politics, Economy, and Culture
The Sultanate of Oman is an Arab and Islamic country located on the southeastern coast of the Arabian Peninsula. It shares borders with the UAE, Saudi Arabia, and Yemen. Oman is an absolute monarchy and its current ruler, Sultan Qaboos bin Said al Said, is the third-longest reigning monarch in the world.
Oman is considered a high-income country that is mainly dependent on oil exports. Its petroleum reserves are the 25th largest in the world. It has one of the hottest climates in the world due to its location in the Persian Gulf with summer temperatures that can go up to 40°C (104°F). Wildlife includes the Arabian humpback whale, a species whose endangered status is being highlighted by whale-watching tourism.
Oman has over 4 million people, the majority of whom are Muslim with Christians, Hindus, and Buddhists forming a minority. Its largest city is Muscat with a population of just under 800,000 people.
|May 13||Eid al-Fitr|
|May 14||Eid al-Fitr Holiday|
|May 15||Eid al-Fitr Holiday|
|July 20||Eid al-Adha|
|July 21||Eid al-Adha Holiday|
|July 22||Eid al-Adha Holiday|
|July 23||Eid al-Adha Holiday|
|October 19||The Prophet’s Birthday|
|November 18||National Day|
- SAOG (Société Anonyme Omanaise Générale)
- SAOC (Société Anonyme Omanaise Close)
- Corporate Tax: 15%
- Income Tax (Lowest Marginal Rate): 0%
- Income Tax (Highest Marginal Rate): 0%
- VAT/GST/Sales Tax: 0%
- Alizz Islamic Bank (Local Bank)
- Bank Muscat (Local Bank)
- National Bank of Oman (Local Bank)
- Oman Arab Bank (Local Bank)
- Bank Dhofar (Local Bank)
- Ahli Bank (Local Bank)
- HSBC Oman (Local Bank)
- Bank Nizwa (Local Bank)
- Bank Sohar SAOG (Local Bank)
- Al Madina Financial & Investment Services. (Foreign Bank)
- Alliance Housing Bank. (Foreign Bank)
- Arab Bank. (Foreign Bank)
- Bank Of Baroda. (Foreign Bank)
- Citi Bank. (Foreign Bank)
- Hsbc Bank. (Foreign Bank)
- Oman Arab Bank. (Foreign Bank)
- Standard Chartered Bank. (Foreign Bank)
- Bank Muscat (Private Bank)
Aadmi can support you with your expansion to Oman. Our team of experts in country manage every aspect of your expansion from incorporation, accounting, legal, and even administrative concerns. Matched with Global People Strategist’s powerful labor compliance software, your company is in good hands.
Contact us today for more information about how your company can benefit from using Aadmi as your global expansion partner.