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Are you looking for expert-led guidance to get a payment service provider license in Oman? Connect with Enterslice to avail the services of an expert for a seamless process of the PSP License in Oman. With the growing digitalization across the globe, the digital payment landscape in Oman is also rapidly growing with the changing times, as the country has already adopted cashless transactions, expanded e-commerce and financial technology innovation.
A PSP license in Oman is a regulatory authorization issued by the Central Bank of Oman (CBO) mandatory for those entities seeking to provide payment services to consumers and businesses in the Sultanate of Oman. Its regulatory framework is governed by the Banking Law (Royal Decree No. 114/2000) and the Regulation on Provision of Payment Services issued by CBO, which sets the licensing, capital, governance, AML / CFT, cybersecurity & consumer-protection standards for all Payment Service Providers in Oman.
Whether you are a fintech startup, an international payment platform, or a technology company seeking to offer payment solutions, obtaining a CBO PSP License in Oman is your gateway to participating in this burgeoning sector. The list of activities covered under the PSP License in Oman is:
Payment Aggregation Services
Payment Gateway Solutions
Electronic Wallets and Prepaid Payment Instruments
Domestic Money Transfer Services
Cross-border Remittance Services
Bill Payment and Collection Services
Point-of-sale (POS) Acquiring
Merchant Acquiring Services
Custody / Trust Account-Based Settlement Services
Obtain your Central Bank of Oman (CBO) PSP License with expert guidance from Enterslice. We assist with Oman company incorporation, regulatory approvals, compliance framework setup, AML/CFT documentation, and end-to-end licensing support to help launch your payment services business in Oman.
The list of benefits of the Oman PSP License is as follows:
Gain entry into a stable AAA-grade GCC economy with approximately 75% banked population and around 35% year-on-year digital payments growth, offering strong fintech expansion opportunities.
Operating without Central Bank of Oman (CBO) authorization exposes businesses to monetary penalties, criminal liability, and the risk of license revocation.
A CBO PSP license enables access to sponsor-bank partnerships, OmanNet integration, card network onboarding, and secure settlement infrastructure.
With strong laws and regulations like charging order protection in place, you can safeguard your personal assets from company creditors and bad debts. As an LLC owner, you will only be responsible to the extent of your capital contribution in the business.
It allows up to 100% foreign ownership under the FCIL Schedule, subject to applicable category conditions.
It enables servicing Oman’s ~50% expatriate population through regulated inbound and outbound money transfer services.
It supports Oman’s national strategy for digital economy development and non-oil sector diversification.
CBO’s robust framework enhances trust among LPs, banking partners, and correspondent banking networks.
The Oman license serves as a strategic base for scaling into the UAE, Saudi Arabia, Bahrain, and Kuwait under GCC regulatory frameworks.
It enables capabilities in instant payments, open banking, embedded finance, QR payments, and tap-to-pay solutions.
The list of documents required for the Central Bank of Oman PSP License is as follows:
Certificate of Incorporation / Commercial Registration (MOCIIP)
Memorandum & Articles of Association (Arabic + English)
OCCI membership certificate
Tax Card from Oman Tax Authority
Authorised signatory card/specimen signatures
Audited financial statements (last 2 fiscal years)
3–5-year financial projections & capital deployment plan
Proof of minimum paid-up capital (OMR 250K–OMR 1M, category-based)
Notarized passport copies of all UBOs (10%+), directors & officers
Police Clearance Certificate (PCC)
Detailed CVs of directors, officers, Compliance Officer & MLRO
Bank reference letters for promoters and key personnel
Source of funds and source of wealth declarations
Fit & proper questionnaires (CBO prescribed format)
Home regulator clearance (if applicable for foreign applicants)
Omanisation hiring plan and CVs of proposed Omani executives
The list of entities engaging in the following services is eligible to apply for PSP license in Oman:
Aggregation of merchant payments, settlement to merchant nodal accounts, and handling e-commerce and retail collections.
Provision of online and app-based payment routing and processing infrastructure (Payment Gateway services).
Issuance of open-loop, semi-closed, or closed-loop wallets, including salary cards, payroll cards, and gift card programs.
In-country fund transfers between individuals or businesses, including salary disbursement services.
International inward and outward remittance services, including expatriate remittances and family transfer corridors.
Aggregation and settlement of utility, telecom, and government or ministry-related bill payments.
Physical and soft POS acquiring services, QR code-based payments, and tap-to-pay infrastructure enablement.
Innovative payment service providers are testing new models under the CBO regulatory sandbox, with a phased pathway toward full licensing.
The list of key regulations governing the Oman PSP License is as follows:
Establishes the Central Bank of Oman (CBO) authority over banking and payment systems. It provides the legal foundation for PSP licensing and supervision.
Core regulatory framework for PSPs covering licensing categories, capital requirements, governance standards, AML/CFT controls, settlement rules, and consumer protection norms.
Strategic roadmap for Oman’s digital payments ecosystem, including infrastructure development such as OmanNet, ATM networks, payment switches, and settlement systems.
Governs Anti-Money Laundering and Combating Financing of Terrorism obligations, including STR reporting to the National Centre for Financial Information (NCFI / FIU Oman).
International inward and outward remittance services, including expatriate remittances and family transfer corridors.
Regulates incorporation, corporate governance, management structure, and ongoing statutory compliance for companies operating in Oman.
Mandates baseline cybersecurity controls such as SOC monitoring, encryption standards, multi-factor authentication, business continuity planning (BCP), disaster recovery (DR), and vulnerability management.
Includes 15% corporate income tax, 5% VAT (effective from April 2021), withholding tax rules, and transfer pricing compliance obligations.
Requires minimum employment of Omani nationals with sector-specific quotas and workforce reporting obligations.
International AML/CFT standards influencing Oman’s supervisory and compliance expectations based on MENA-FATF mutual evaluation outcomes.
Applies where PSP activities overlap with capital markets, securities services, or insurance-related payment flows, triggering additional regulatory oversight
The step-by-step process for how to apply for a PSP license in Oman with Enterslice is as follows:
Firstly, you need to check and identify the correct PSP category for your business, as you need to check with the Central Bank of Oman to align with the regulatory expectations. This includes capital and substance requirements.
Secondly, you need to register an Omani entity like LLC, branch, or JV and accordingly complete the registration with MOCIIP, tax registration and various other local approvals. While a structure of foreign ownership structure should comply with FCIL rules (if applicable).
Thirdly, you need to send an initial proposal to the Central Bank of Oman explaining your business model, PSP services, target market, capital plan, and key team. Make sure to receive initial feedback or a go-ahead.
Draft a detailed 5-year business plan along with the AML/CFT policies, including compliance framework, risk management policies and KYC/CDD procedures tailored to PSP operations.
Set up secure IT infrastructure aligned with CBO cybersecurity requirements, including payment processing systems, settlement flow, and banking/sponsor arrangements.
Deposit the required paid-up capital in an Omani bank and appoint mandatory roles such as Compliance Officer, MLRO, and local director (as per Omanisation rules).
File the complete application for PSP license in Oman with all documents to the Central Bank of Oman, respond to queries, and obtain In-Principle Approval (if requirements are met).
Complete final inspections, audits, and conditions set by CBO. Once approved, receive the PSP license and begin operations with full regulatory compliance.
Typically, it takes 6 to 12 months if everything is as per the requirements. However, the segregated timeline for PSP License in Oman is as mentioned below:
This stage involves mapping the PSP category and confirming regulatory suitability before formal submission.
Includes CR issuance, tax registration, and FCIL-compliant ownership structuring to establish the legal entity.
The initial proposal is submitted to CBO outlining the business model, services, and capital plan.
AML/CFT, risk management, compliance, and CDD/EDD policies are drafted and finalized.
Payment systems, cybersecurity framework, and sponsor bank arrangements are developed.
Capital is infused, key compliance roles are appointed, and the governance structure is formalized.
A complete license application is submitted, followed by CBO review and IPA process.
Final audits, compliance checks, and operational readiness lead to license issuance and launch.
The list of compliances for the CBO PSP License in Oman is as follows:
The list of post PSP License in Oman compliances is as follows:
Let our experts at Enterslice help you secure your Central Bank of Oman PSP License in Oman.
Enterslice is one of the world’s leading business consulting and compliance management companies. From company registration in Oman to Oman accounting and payroll services, trademark registration, Oman LLC setup, VAT return filing in Oman, Oman CFO Advisory services, and more, we provide end-to-end assistance. Trust Enterslice for the PSP License in Oman for the following reasons:
An Oman PSP License allows businesses to operate legally under the Central Bank of Oman (CBO) framework while gaining access to Oman’s growing digital payments market. It provides banking and payment network access, strengthens investor and banking credibility, and supports modern payment solutions such as QR payments, open banking, and instant payments. The license also permits foreign ownership flexibility, enables regulated remittance services, and creates opportunities for expansion across GCC markets.
The required documents for a PSP license in Oman include incorporation papers such as the Commercial Registration, Memorandum & Articles of Association, OCCI membership, Tax Card, and authorised signatory details. Financial documents like audited financial statements, a 3–5-year financial projection, and proof of minimum paid-up capital are also required. Additionally, applicants must submit KYC documents of UBOs and directors, Police Clearance Certificates, CVs of key personnel, bank references, source of funds declarations, fit & proper forms, home regulatory approval (if applicable), and an Omanisation hiring plan.
Entities engaged in payment-related services such as payment aggregators, payment gateway operators, e-wallet or prepaid payment instrument issuers, domestic money transfer operators, cross-border remittance providers, bill payment and utility aggregators, and POS/merchant acquiring service providers are eligible to apply. FinTech companies participating in the regulatory sandbox of the Central Bank of Oman can also apply under a phased licensing framework.
A PSP License in Oman is primarily governed by the Banking Law and the CBO Regulation on Provision of Payment Services. License holders must also comply with AML/CFT regulations, data protection laws, cybersecurity requirements, tax regulations, Omanisation policies, and other applicable corporate and foreign investment laws.
To obtain a PSP License in Oman, businesses must first identify the appropriate PSP category and engage with the Central Bank of Oman (CBO). The process involves incorporating an Omani entity, submitting a Letter of Intent (LOI), preparing compliance and business documents, establishing secure payment systems, arranging capital and key personnel, and filing the license application. After meeting CBO requirements and obtaining approvals, the PSP license is issued, allowing the business to commence operations.
PSP license holders in Oman must maintain a robust compliance framework, including a detailed business plan, AML/CFT policies, customer due diligence procedures, sanctions screening, risk management controls, and cybersecurity measures. They must also appoint compliance and MLRO officers, ensure data protection compliance, maintain secure IT and settlement systems, and establish proper outsourcing and vendor management arrangements in line with CBO requirements.
After obtaining a PSP License in Oman, businesses must comply with ongoing regulatory obligations, including customer due diligence, transaction monitoring, sanctions screening, regulatory reporting, AML/CFT compliance, cybersecurity assessments, audited financial submissions, tax filings, and Omanisation requirements. PSPs must also obtain CBO approval for significant ownership, management, or service changes and promptly report any cybersecurity incidents or suspicious transactions.
The different types of PSP licenses in Oman are payment processing license, money transfer license, e-wallet and stored value license, Payment Gateway License in Oman, and integrated payment service license.
A Payment Gateway License in Oman is a license that permits a platform to connect e-commerce websites with payment networks, processing online transactions securely, and managing payment routing and settlement. With the increasing demand for e-commerce businesses in Oman, payment gateway services are one of the essential requirements for online businesses.
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