Business accounts: Oman

Updated 5 October 2026

An honest assessment before work starts, the quote is fixed in writing.

A company account in Oman is opened at a local bank supervised by the Central Bank of Oman. The bank will open it for an Omani company, while a foreign company without Omani registration has little chance: Omani banks work with businesses active in the country. The usual path is a company or branch in Oman first, then the account.

Company first: registration in Oman

The 2019 foreign investment law allows foreigners to own 100% of a company in Oman in most activities. Commercial registration is done on the government business portal: according to the portal, the certificate is issued as soon as the application is complete. Some activities also need licences from the relevant authorities.

What documents the bank asks for

• The commercial registration certificate and details of the activity.
• Constitutional documents and the resolution establishing the company.
• Passports and proof of address of shareholders, directors and beneficial owners.
• A board resolution to open the account and specimen signatures of authorised persons.
• A business description: clients, suppliers, payment countries, expected turnover.
• Proof of the shareholders' source of funds.

Documents issued abroad are legalised and translated into Arabic or English; we confirm the specific bank's requirements before filing.

Taxes the bank will look at

The bank matches the business model against the company's tax obligations. Corporate income tax in Oman is 15%, or 3% for small companies meeting revenue and headcount conditions; VAT is 5%; and 10% is withheld from payments to non-residents for services, interest and royalties. Source: the Oman Tax Authority.

What changes from 2028

Royal Decree 56/2025 introduces personal income tax in Oman: 5% on annual income above OMR 42,000, more than $109,000, from the start of 2028, according to the Oman Tax Authority. It does not apply to companies, but owners and directors with high incomes should plan for it in how they are paid. The Omani rial is pegged to the US dollar at OMR 1 = USD 2.6008, so currency risk for dollar settlements is minimal.

Deposit protection

Deposits at Omani banks are covered by a state scheme up to OMR 20,000, more than $52,000 at the riyal's dollar peg, according to the Central Bank of Oman.

How opening works

1. Company and licences. We register a company or branch and obtain the required licences.
2. Choosing a bank. We match a bank to the activity, currencies and payment countries.
3. Compliance file. We prepare documents, a business description and proof of source of funds.
4. Meeting the bank. A director or authorised person usually has to attend in person.
5. The bank's decision. Timing depends on the bank and the complexity of the structure.

Why banks refuse

• The company has no activity in Oman or cannot explain why it needs an Omani account.
• A complex ownership chain without disclosed beneficial owners.
• Payments to higher-risk countries and sectors.
• Shareholders' source of funds not proven.

What we do

Murblz specialists register a company in Oman, match a bank to your business, prepare the compliance file and handle communication with the bank until it decides. The decision always rests with the bank. The fee depends on the bank and the structure; we will quote it after a short consultation and fix it in writing.

What we do

• Corporate account - opening assistance

See also

Company formation · Personal account · Investment property

FAQ