01/09/2026
We, at Finalitey LLP, ended the month of August 2026 by conducting one-on-one personal tutoring workshop on our third module - themed on Investments, which we prefer to refer to as "Invest Wisely".
There were 3 participants (age: mid to late 40's to early 50's) attending from Muscat, Oman. They work for the oldest and largest conglomerate of Oman – the Khimji Ramdas Group that has been growing since its foundation laid way back in 1870.
Till date we have had participants attending from 44 geographical locations, 14 of which are located outside India. We feel proud to add Muscat, Oman to this ever-growing list.
Apart from covering (3 sessions, each of 2 1/2 hours each) our structured topics covering must-know concepts via presentations, short videos, hands-on exercises, Q&A, crossword puzzle, Quiz, Trivia; we also shared, in brief, how investment channels and related taxation work between the two countries - India & Oman. Also being non-residents Indians, there are certain restrictions and taxation impact too.
The participants were eager to up their awareness as they were seriously contemplating investing in India - a key component in their financial / retirement goal planning.
In our one-on-one tutoring / bilateral workshops, we take opportunity to tailor make / customise learnings for the value added benefit of our participants. This could include aspects (though briefly, as our standard deck is comprehensive) related to taxation, NRI deposits such as FCNR B, bank deposit insurance, investment avenues / restrictions say for non residents. Our aim is to ensure that our participant queries too get addressed in the allotted time frame.
If interested to learn the must-know concepts of money management in a modular and structured manner do connect with us at:
[email protected]
WhatsApp: 9820147312 (CA Sanjay Mehta)
WhatsApp: 9820791226 (CA Jatin J Lodaya)
----------Oman specific-------------------
We understand that currently Oman does not expect any income tax to be paid locally. Oman is officially introducing its first-ever Personal Income Tax Law, which will take effect on January 1, 2028, making Oman the first nation in the GCC to tax individual income. The 5% tax on net taxable income only targets high earners, kicking in for individuals whose annual gross income exceeds OMR 42,000 (approximately USD $109,200). It is estimated to affect only the top 1% of earners in the country.
Currently there is an India-0man Double Taxation Avoidance Agreement which requires payment of income tax in India on:
- interest income earned on NRO account at 10%,
- dividend income earned on shares and mutual funds at 12.5%,
- STCG on equity at 20%,
- LTCG on debt & equity at 12.5%.
Oman follows the calendar year as its financial year i.e., January to December, whereas India follows April to March as its financial year.
Omani financial institutions engage with the Indian market through partnerships or investment funds rather than direct branch networks. Major Omani institutions like the National Bank of Oman provide direct-to-India remittance services through local Indian banking alliances (such as with Federal and Axis Bank).
Oman invests in the Indian stock market through joint private equity funds, institutional channels, and specialised regional financial intermediaries.
Oman India Joint Investment Fund (OIJIF): A prominent bilateral private equity collaboration (backed by the State General Reserve Fund of Oman and State Bank of India) that actively deploys hundreds of millions into mid-market Indian enterprises.
Dedicated Funds: Regional institutional managers, such as Jabal Asset Management based in Muscat, manage dedicated India-focused funds targeting equities and growth opportunities. With focus on the India growth story, the Jabal India Fund is advised by Kotak Mahindra Asset Management (Singapore) Pte. Ltd., the international arm of one of India’s leading fund managers, bringing world-class expertise and on-the-ground insights.
Portfolio & Mutual Fund Access: Licensed financial entities like QBG Geojit Securities LLC operate in Oman to facilitate access to external securities and Indian mutual funds for eligible investors.
----------------The above is merely sharing of additional information sourced from public domain and is in no ways marketing or promoting or soliciting business for any named entities. We have no direct or indirect connect with any of these named institutions. Professional advice is recommended before investing your money in any financial instrument. For taxation aspects, we highly recommend you to contact with your Chartered Accountant.
