As one of the most thoroughly organised and well-managed of the oil states, Oman’s banking system has evolved in a way designed to suit the needs of an expanding economy still heavily reliant on ex-pats.

But getting started takes an effort of will, particularly for newcomers to Middle East investment.

Oman is a tax-free oasis that offers excellent employment prospects and a high standard of living, but inevitably there are one or two major considerations to bear in mind if contemplating a move or commercial expansion there.

The business climate is friendly, the trading environment distinctly Middle Eastern – expect a certain elasticity where negotiations are concerned, and a polite but insistent adherence to the very personal way of agreeing deals, where the most significant element is personal trust.

The financial side of things is, of course, paramount, and while some of your business’s British employees might want to keep a UK account – for example to settle domestic bills back home – it’s widely considered better to close these down, as evidence of severing financial ties with the UK appears to be beneficial in setting up work life in Oman.

Many ex-pats switch to offshore accounts, aiming to secure a good deal which includes a reasonable amount of flexibility, and then manage their affairs through the Omani banking system on the best terms they can gain.

However would-be entrepreneurs really have to plan in far greater detail how they are going to meet the stringent requirements, fiscal and procedural, for registering and launching a new company in Oman, starting with the setting up of their business bank account.

A consistent piece of advice from those who have launched small to medium companies in Muscat is “don’t even think of trying if you aren’t prepared to spend good money”. Getting an accurate fix on your scale of investment in the start-up period is clearly going to bew paramount.

You will also need an Omani sponsor for everything to go smoothly – this is really a crucial element of the whole process - and will have to look hard to be sure of finding reasonably-priced business premises in a fairly tight commercial sector.

Your local Omani partner will be the gateway to success and, importantly, official backing – a key link to the intricate domestic structure which naturally encourages foreign investment, but on very carefully controlled terms.

On the plus side, having negotiated the bureaucracy and gained a footing in the country, you can aim to gain government support if you are involved in the manufacturing or export industries, and can expect the planning side of construction of, say, a new factory, to be relatively straightforward.

Meanwhile a business in a free trade zone has some major advantages to enjoy, including exemption from import and export duties, property licence fees, and restrictions on the transfer of money invested in that zone.

The system doesn’t set out to frustrate, but does aim to ensure only the sort of business useful to the Omani economy can hope for a smooth passage – and, again, that will take substantial investment, sound planning, and a great deal of patience to achieve.

Local chambers of commerce are reckoned a particularly useful way of getting an “in” on a particular market sector, as they are keen to increase the strength of the trading community, and can offer a fund of practical knowledge that can help the budding Oman-based entrepreneur avoid a whole series of potential problems.

Some operators find it more straightforward to buy a going concern in Oman, rather than launch a firm for scratch, as this does not involve lodging heavy funds up front, complex registration or sponsorship – but of course you still have to negotiate a sale, and decide whether the existing operation can readily be adapted to your specific needs.

Many thriving businesses, however, have found it well worth the effort required to set up shop in Oman – a country whose stable society, growing economy and major financial breaks form a sound basis for commercial success.