OMAN: Sohar Freezone Unveils Trade Licence and Rental Incentives
26 May 2022
Oman’s Sohar Freezone has introduced new incentives for attracting investment and encouraging existing businesses to expand, according to a 16 May 2022 press release. The freezone now offers new and current locators reduced rates on general trade licences (GTLs), as well as cheaper office space.
Fees for new and renewed GTLs valid for one, two and three years are discounted by 30%, 40% and 50%, respectively until the end of 2022. Businesses can apply for a GTL and other permits through the freezone’s online portal. Office space rental rates at Corporate Parks’ commercial developments have been lowered by between 30% and 45% for leases up to three-years. Locators in the zone already enjoy benefits such as zero income tax; zero import and re-export duties; and a corporate tax exemption for up to 25 years.
- Finance & Investment
- Middle East