Oman » The Purchase Process

Oman is one of the safest and comfortable countries in the world for the expatriates to live in and work. A large number of investors are buying real estate in Muscat (Oman) with a purpose to use it as a vacation rental.Investors can get a good return as the prices in some of emerging markets are very attractive. For this purpose a mortgage can be used to fund the purchase of a house, home, apartments or villas to be used as vacation rentals.

Here is a list of laws for property ownership in the country.

• Non-Omani natural or juridical people are permitted to have lands or constructed units through legally recognized proprietary rights to land for residential or investment purposes in integrated tourism complexes, licensed by competent government agencies.
• The owner has the right to sell built units at any time, but if any one who bought property or land in integrated tourism complex should develop it to finished appearance within four years of land ownership.
• The period of four years of land ownership may not be extended to more than two years by the Ministry of Housing, Electricity, and water.
• The sale by public auction shall be performed by a government committee for be formed.
• Residence can be permitted to a Non-Omani owner of a property for accommodation or investment.
• The Ministry of Tourism shall form a government committee to be hand over with task of licensing integrated tourism complexes in accordance with established rules and criteria.
• Rights of inheritance and all after-death dispositions of properties subject to this system shall be according to the laws of the country to which the owner belongs.
• Under Oman’s foreign capital investment law, non-Omanis are not allowed to run commercial, industrial, or tourism businesses or participate in any Omani company without a license issued by the Ministry of Commerce and Industry.