- Oman issued Royal Decree No. 38/2025 on April 7, 2025, creating a unified legal framework for Special Economic Zones and Free Zones
- The new law replaces Royal Decree No. 56/2002 and aims to enhance Oman’s appeal as a regional investment destination
- A centralized One-Stop-Shop platform is introduced to streamline licenses, permits, approvals, and certifications
- The framework offers a ten-year corporate income tax exemption for eligible companies, extendable for activities supporting national priorities
- Full customs duty exemptions are available for qualifying entities, with potential favorable VAT treatment
- Sector-specific exclusions apply to align tax incentives with Oman’s economic strategy
- Non-Omani individuals and entities can acquire freehold ownership in residential units within designated zones
- Existing businesses retain current benefits until their contractual terms expire
- The decree modernizes Oman’s legal framework for economic zones, encouraging investors to review new provisions for optimal benefits
Source: mailchi.mp
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
