Category: Oman Bullion Dealers
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Buying Bullion In Oman
While Oman isn’t known for large-scale refining or minting, gold remains a traditional store of family wealth and demand is steady – supported by a strong retail jewellery sector and a growing availability of investment-grade bars and coins.
Oman does not have an LBMA-accredited refinery or mint; most investment products are imported from established brands (e.g., PAMP, etc.) and sold via specialist dealers and leading jewellers. Local market activity is concentrated in Muscat (Mutrah Souq, Ruwi, Seeb) with a mix of jewellery retailers and bullion sellers; examples include dedicated bullion retailers in Muscat offering PAMP bars and investment silver.
According to the World Gold Council/IMF data as summarized by TradingEconomics, the Central Bank of Oman reports gold reserves of about 6.73 tonnes as of Q1 2025.
Are Bullion Sales Taxed in Oman?
Oman levies VAT at a standard rate of 5%. However, investment precious metals (gold, silver and platinum) meeting the Tax Authority’s “investment” criteria are zero-rated for VAT (0%), while jewellery remains subject to 5% VAT.
Imports generally attract customs duty of around 5% under the GCC Common Customs Tariff, with specific exemptions possible depending on the goods and regime applied. Businesses should confirm treatment for particular shipments with their customs broker.
Zakat on gold is obligatory for Muslims when holdings exceed the nisab. The commonly referenced nisab for gold is 85 grams; if this amount (or more) is held for one lunar year, zakat becomes due.
IMPORTANT: The above tax details are for information only and believed correct at time of publication. Bullion.Directory are not tax experts. All enquiries about Omani taxes and import/customs treatment should be addressed to the
Oman Tax Authority or a qualified local adviser. VAT, customs rules and thresholds are subject to change.
Hatton Garden Metals
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