Justice GCC
ar ع
  • Home
  • Legislation
  • Courts
  • Law Firms
  • Deals
Reading: Oman Establishes International Financial Centre Through Royal Decree With Independent Courts and Tax Breaks
Share
Justice GCCJustice GCC
Font ResizerAa
  • Legislation
  • Courts
  • Law Firms
  • Deals
Search
  • Home
  • Legislation
  • Courts
  • Law Firms
  • Deals
  • About
  • Corrections
  • Editorial Policy
  • Contact
Justice GCC > Legislation > Oman Establishes International Financial Centre Through Royal Decree With Independent Courts and Tax Breaks
Legislation

Oman Establishes International Financial Centre Through Royal Decree With Independent Courts and Tax Breaks

NewsDesk
Last updated: January 12, 2026 12:00 am
NewsDesk
Share
Oman's International Financial Centre in Muscat | AI-Generated Image
SHARE

Royal Decree 8/2026 issued by Sultan Haitham bin Tarik on January 12, 2026 established the International Financial Centre of Oman as a body with legal personality, financial and administrative independence subordinate to the Deputy Prime Minister for Economic Affairs. The decree, which entered into force upon publication in the Official Gazette the following day, applies an attached law that sets out the centre’s operational framework. According to the decree text, the centre seeks to position the Sultanate as a leading global financial hub based on stability, integrity and competitiveness.

The centre will be located in Madinat Al Irfan in Muscat, with licensed establishments required to operate within its boundaries although they may open branches or invest outside under applicable rules. A council appointed by royal order, including chairpersons of the IFC Oman Authority and the Regulatory Authority, will oversee operations and meet at least twice annually. Each authority maintains its own legal personality and operational independence, a structure detailed in analyses by Ernst & Young.

Omani legislation does not apply inside the centre except in specified areas such as criminal law, anti-money laundering rules, tax legislation and national security provisions, according to a Trowers & Hamlins overview of the decree. The framework aligns with English common law principles to create a predictable environment for international finance. KPMG noted in its summary that the centre will also facilitate entry visas and residence permits for non-Omani individuals and their families to support talent attraction.

Tax measures under the decree treat the centre as a designated special zone, offering exemptions from income tax for eligible activities for up to 50 years from the effective date. Non-resident legal persons and certain non-Omani natural persons receive relief from income and withholding taxes on specified transactions with centre entities. The value-added tax law will apply with exemptions or zero-rating for relevant supplies, details confirmed in an Ernst & Young assessment published later in January 2026.

An independent judicial system features a primary court with a single judge and a court of appeal with three judges, whose decisions are final, though additional courts may be created by further decree. These courts handle matters within the centre’s jurisdiction and issue judgments in the name of the Sultan. The setup forms part of a broader institutional structure designed to ensure swift dispute resolution aligned with international standards.

The initiative supports Oman Vision 2040 goals for economic diversification and increased contribution from the financial sector to gross domestic product. A KPMG overview from April 2026 indicated the centre aims to attract regional and international capital while fostering sustainable growth and local employment. Official materials from the IFC Oman website describe the decree as creating a sovereign legal foundation with clear boundaries from general Omani law to build investor confidence.

Share This Article
Email Copy Link Print
ByNewsDesk
Justice GCC NewsDesk is the desk responsible for Justice GCC's daily news coverage, monitoring and reporting developments across the Gulf from official sources, including national news agencies and government communications. Its focus is accurate, timely and factual coverage of the region.
Previous Article UAE Courts Affirm Tribunal Powers on Interim Measures and Award Signatures
Next Article UAE Implements Federal Decree-Law 26/2025 to Enforce Child Safeguards on Digital Platforms

Popular Posts

From law to diplomacy: British Ambassador Qudsi Rasheed on service, belonging and life in Kuwait

British Ambassador Qudsi Rasheed discusses his move from law to diplomacy, life in Kuwait and why young people should stay…

By
NewsDesk
8 Min Read
Shaun Pollock Calls Out Australia and South Africa for Rejecting Pink Ball Trial

Former South Africa captain Shaun Pollock has criticised Australia and the Proteas…

3 Min Read
City of London Mayor Visits Doha to Expand Finance and Technology Partnerships with Qatar

Dame Susan Langley met with officials in Doha on October 12 2026…

4 Min Read

More News

Macron Condemns Violence and Seeks Calm After French Protests Result in Mass Arrests

French President Emmanuel Macron appealed for calm on October 19…

October 19, 2026

Macron Condemns Violence as French Protests Trigger 2400 Arrests and Mass Police Injuries

French President Emmanuel Macron appealed for…

October 19, 2026

Cybersecurity Experts Warn of Surge in AI-Powered Scams Targeting Elderly Savings

Cybersecurity experts warned this week that…

October 19, 2026

UAE Labour Law Allows Immediate Dismissal for 10 Specific Violations After Investigation

Emirates 24|7 reported this month that…

October 19, 2026

UAE Egypt Investments Provide Strategic Buffer as Hormuz Conflict Hits Dubai Economy

A decade of substantial UAE investment…

October 19, 2026

Recommended for You

Legislation

UAE Exempts Student Inventors and People of Determination from Multiple Industrial Property Fees

New fee exemptions for student inventors and People of Determination on key industrial property services will take effect in the…

3 Min Read
Legislation

UAE Leads GCC in Global Electric Mobility Readiness Index

The United Arab Emirates placed 22nd worldwide with a score of 53 and ranked first among GCC states in Arthur…

3 Min Read
Legislation

Qatar Reaffirms Support for Anti-Racism Framework at UN Anniversary Meeting

On September 28, 2026, Qatar participated in a high-level United Nations meeting in New York commemorating the 25th anniversary of…

3 Min Read
Legislation

National Treasury Outlines Authorisation Requirements for Cross-Border Crypto Activities

South Africa's National Treasury and Reserve Bank published a draft manual on 3 August 2026 that sets out authorisation, reporting…

4 Min Read

Categories

  • Legislation
  • Courts
  • Law Firms
  • Deals

Quick Links

  • About
  • Corrections
  • Editorial Policy
  • Contact
Justice GCC
© 2026 Justice GCC. Published by Peninsula News Group LLC. All rights reserved.
  • Privacy Policy
  • Terms of Use
  • Contact
Welcome to Foxiz

Sign in to your account

Username or Email Address
Password

Lost your password?