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The International Financial Centre of Oman plans to begin registering companies later this year ahead of full licensing operations in 2027 as it advances work on its legal framework regulatory rules and online application system. His Highness Sayyid Theyazin bin Haitham al Said the Deputy Prime Minister for Economic Affairs and Chairman of IFC Oman chaired the board meeting on Thursday the Oman Observer reported. The session underlined the centre’s momentum toward opening its doors with company registration preceding the launch of full licensing services next year.
A package of laws covering business registration and licensing financial services regulation and independent dispute resolution is expected to be issued shortly according to the Oman Observer. The legislation would allow the centre’s authorities to adopt an initial set of regulations and rules governing activities conducted within and through IFC Oman the publication added. A digital registry is also expected to enter testing shortly and once operational it will allow businesses seeking to establish a presence in the centre to submit applications online.
“IFC Oman is accelerating towards opening its doors with its legal regulatory and digital infrastructure moving into place” Mahmood al Aweini Chairman of the IFC Oman Authority Board said. Al Aweini noted that completing its legal framework would provide the clarity and certainty businesses need to establish operations in Oman. The Oman Observer reported that further meetings with prospective businesses are planned in London later in October.
The IFC Oman was established under Royal Decree No 8/2026 as an independent platform for internationally oriented financial and business activities the Oman Observer has reported in prior coverage. A World Bank analysis found that the centre supports Oman Vision 2040 which seeks to cut hydrocarbons’ share of GDP from about 30 percent today to 8.4 percent by 2040 while raising private sector investment toward a 70 percent target. The centre headquartered in Madinat Al Irfan will offer incentives including tax exemptions for up to 50 years and 100 percent foreign ownership according to statements carried by the Oman Observer.
Comparable financial centres in the GCC have recorded notable economic contributions with the Qatar Financial Centre supporting 44 178 jobs and USD 4.792 billion in gross value added in 2024 a QFC economic impact report showed. The Dubai International Financial Centre hosts companies managing assets worth $700 billion according to a 2026 Arabian Business assessment while the Abu Dhabi Global Market exceeded 12 000 active licences with a workforce of 44 339 at the end of 2025 the Phoenix Newspaper reported. These outcomes highlight the potential for IFC Oman to contribute to economic diversification under Oman Vision 2040 the World Bank assessment noted.
The centre remains administratively and financially independent reporting to the Deputy Prime Minister for Economic Affairs the Oman Observer stated. Its scope focuses on global clients under IFC Oman rules while firms operating in Oman’s domestic market continue under the national legal framework. The board will continue to oversee completion of legislative regulatory and operational frameworks as the centre moves through its readiness phase.
