The Sultanate of Oman, one of the most progressive countires in the Middle East , has achieved remarkable growth in all sectors of economy during the past years and is well on its course for excellent growth. Though oil remains single most important source of revenue, the expansion of non-oil sector is expected to make the growth and development process of Oman more sustainable in the long run.

The Sultanate encourages foreign capital that will enhance the overall development of the country. It should supplement local investment in utilizing its untapped resources, facilitate transfer of technology, know - how and managerial skills, and getting benefit from the worldwide connections of multinational corporation in opening new markets for Oman products.

Oman is committed to a policy of open market economy based on free competition in which the Private Sector is encouraged and facilitated to play leading role. World class infrastructure facilities, incentives packages, attractive corporate tax and tax holidays, simplification of ?doing business procedures' and transparent corporate governance has made Oman as an attractive destination for investment .

Non-Omanis(exclusive of GCC Nationals)are allowed to own the following types of real estate in the integrated tourism complexes approved by the government in the different governorates and regions of the Sultanate:

• Built real estateWhether villa, apartment or shop.
• Reclaimed plots

• Granting of land earmarked for tourism purposes in accordance with the usufruct for a period ranging from 25 to 50 years depending on the type and size of the project.
• Exemption from payment of rental value for a period ranging from 3 to 5 years according to the nature and type of the project.
• Rental value is estimated in accordance with the project's land area.
• Exemption from income tax for five years from the date of operating the project.
• The estimated annual rental value of lands is 300 Bz per square meter in Muscat Governorate and the Wilayat of Salalah, and 150 Bz per square meter in the remaining Governorates, Regions and in the Wilayat of Qurayat.