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Getting money out of Oman as an expat

Getting money out of Oman as an expat – that will be the topic of today’s article.

Nothing written here should be considered as financial advice, nor a solicitation to invest money. 

For any questions, or if you are looking to invest as an expat, you can contact me using this form, or via advice@adamfayed.com 

It is usually better to “kill two birds with one stone” and invest as an expat, rather than send money home to buy shares or a house.


Oman is one of the Asian states. Many people come here to work, study, get medical treatment, etc. Some foreigners even plan to move to Oman. Life in Oman is very diverse and rich. What attracts tourists and migrants to this amazing country?

Oman borders Yemen, the United Arab Emirates, and Saudi Arabia. Many consider this country unusual, as it is not like its neighbors. Religious norms are not so strict here, and the culture is distinguished by liberalism and democracy.

The main industry in this state is oil production. However, in recent years, oil reserves in Oman and neighboring countries have been greatly reduced.

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Literally, 40 years ago, there were practically no medical and educational institutions here. However, thanks to Sultan Qaboos, the situation has improved significantly.

We can say that modern Oman is a young promising country. Why young? About half of the locals here are under 20 years old. The World Health Organization has declared Oman one of the most promising countries for a prosperous life.

Yes, this is absolutely fair. Promotes a long and happy life of the local citizens, not only rapid economic development but also cleanliness. Oman is recognized as one of the cleanest countries in the world. But this is not all the features of the state.

Why are people so eager to come here? We will try to list the main advantages of living in Oman:

  • Here, roads are washed daily and streets are cleaned, so local residents do not have to breathe dust. Every foreigner who comes here cannot help but be surprised at how clean it is.
  • There are no homeless people in this country.
  • The unemployment rate is virtually zero.
  • There is practically no such thing as crime in Oman.
  • The minimum wage in the country is $1,000.
  • Every citizen of Oman has the right to free education in any foreign university. All expenses for the education of local residents are covered by the state.

A cultural feature of the Omanis is the lack of conservative thinking. This leaves a positive imprint not only on their religion, culture but also on their mentality. The consciousness of local residents is significantly different from the psychology of their closest neighbors, who, on the contrary, prefer to remain conservative in religion and culture.

As for skyscrapers, there are practically none in this country. In architecture, Omanis prefer the traditional style. Almost all the local buildings meet the standards of classical Arab architecture. Fans of this architectural style will definitely like it here.

As for the position of women in society, for many years in this country, it is no different from the position of men. Omani men and women have the same rights in almost every area of ​​life.

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Cost of living

The salary for a visiting foreigner, on average, will be 60 thousand rubles. It is worth noting that the villagers do not live as richly as the townspeople. As for buying real estate, you can buy a medium-sized house for $25,000-$33,000.

Prices in Oman are different. Local residents do not have to complain about high prices, as they are justified by local wages.

The average cost of drinking water in Oman is almost half a dollar. If a tourist wants to drink a cup of coffee, it will cost him 3 dollars. And if a visiting foreigner gets hungry and goes to a cafe, then he will pay about $ 4 for a complex lunch.

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How to get citizenship in Oman?

An interesting point is that the fact of birth in this state is not an official reason for issuing Omani citizenship to a person. How can a person obtain Omani citizenship:

  • A child born to an Omani father. The country in which he was born does not matter.
  • A child born to an Omani mother if she is married to a man who has citizenship in that country.
  • Marriage with an Omani citizen. A foreign woman can obtain local citizenship if she marries an Omani man. As for foreign men who marry women of local nationality, they cannot apply for Omani citizenship.
  • A special government decree on conferring citizenship on a specific person.

As for dual citizenship, it is not recognized here. If any person wishes to renounce Omani citizenship, he may do so in the prescribed manner. With regard to the involuntary deprivation of someone’s citizenship, there are no grounds for this.

Religion and culture

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The official religion of Oman is Islam. Two Muslim religious movements profess here: Kharijites and Sunnis. The culture here is very diverse and interesting. One of the specialties of Oman’s culture is its relative isolation.

The idea of family in this country is considered one of the most important value. Locals highly value family ties.

This state is considered patriarchal. This means that the husband or father is the master of the house. According to Islamic traditions, after a woman gets married, she leaves her father’s house for her husband’s house.

Men are allowed polygamy. It is allowed to have no more than four wives, each of which should be treated equally. In Oman, it is not customary for the head of the family to single out any wife in any way. Anyways, most parts of the men in Oman prefer to have one spouse.

The local population does not take divorce well. Islamic culture condemns the breakup of a family, so getting a divorce in this country is almost impossible. The chance of obtaining it arises from a husband who can document the infertility of his wife.

An interesting feature is that before getting married, the bride and groom must conclude a marriage contract. During his detention, family members of each party must be present. Well, after the conclusion of the marriage contract, the bride and groom can celebrate the marriage ceremony separately from each other.

Previously, Omani women married at the age of 14-15, however, with the coming to power of Sultan Qaboos, the situation changed.

A local girl can get married only after 18 years, that is, after she becomes an adult. The Sultan argued this by the need for women’s education. Thanks to this decision, many local women are in no hurry to get married. After receiving an education, they seek to find a job, and only then tie the knot with the chosen one.

Oman has a notable expat population made up primarily of British, American, Canadian, Australian, New Zealand, and South African citizens. It is easy to make friends with expats and locals through social clubs and organizations.

Getting money out of Oman: how you can do that as an expat?

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It is no secret to almost everyone that transferring money through banks is inefficient from the point of view of taxation, and you pay a lot of money for organizing the transfer. Thus, to send money abroad from Oman, you will have to look for other options, such as dedicated money transfer companies, which are mainly focused on transferring your money with low fees and without any loss.

Initially, monetary losses are associated with different currencies, since you send in pesos, and the recipient of money will receive it in the currency of the current country. In general, money transfer companies always offer you a calculator where you have the option to choose your currency and the amount and details of the recipient and see how much he will receive.

In this article, we are going to discuss all the tax-efficient options for sending money abroad for Oman expats, and we will mainly focus on money transfer companies such as:

  • Western Union
  • World Remit
  • Xoom
  • OFX
  • Wise (former TransferWise)

Let’s discuss them all and see what they have to offer us and what are the features of each of them.

Western Union

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One of the most common companies you can come to is Western Union. This company gives you an easy way to send cash abroad, even if the recipient doesn’t have a bank account.

Western Union is a big name in the money transfer industry and almost everyone has a bank account. But what should you use when sending money to friends and family? Answer: It depends on your circumstances.

To make a transfer using Western Union, you go to their website, enter the transfer amount and to which country, and see how much you will pay for the exchange. Once completed, Western Union converts and sends your money to a bank account or for cash collection at points around the world. You can also initiate a transfer over the phone, via the mobile app, or in person.

For international transfers, calculating transfer fees can be confusing. While most fees start at $5, they can go up to $45 when paying with a credit or debit card in cash in some countries. However, when sending money to high-traffic countries such as Mexico or India, some agents offer commission-free transfer options.

Depending on the country you’re sending money to, a typical Western Union exchange rate can be up to 6% higher than the market average. If you’re sending a large amount overseas, that means hundreds of dollars go straight into Western Union’s treasury.

Delivery speed depends on the translation option. At the agent’s office or over the phone, your transfer can be completed within minutes (at a higher cost). The cheapest options may take five days or longer, depending on the country.

So yes, Western Union can be a good option for sending money from Oman to your family or friend.

World Remit

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WorldRemit’s network is not as big as brands like Western Union, but you can often find better rates and lower fees with WorldRemit. In addition, the WorldRemit app and website tell you in advance what exchange rates and fees you will be paying without first registering. This makes it easy to compare with other companies to see if you’re getting the best deal.

One of the main disadvantages of WorldRemit is that you cannot pay with cash, but its global network supports cash acceptance in many countries around the world.

Other delivery options, such as mobile phone top-ups, bill payments, and door-to-door cash delivery, complement this service for some delivery destinations. You will also often be able to find promo codes to get a better deal if you are buying an item for the first time.

Transfers through WorldRemit will add a fee and markup to the average market margin. Transfer fees for WorldRemit vary, but the standard shipping fee from the US to most countries is $3.99. WorldRemit fees and exchange rates may vary depending on the following:

  • Location. Fees and exchange rates may vary depending on the country you are shipping to. Even if two destination countries use the same currency, the exchange rate offered by WorldRemit may differ when shipped to each.
  • Quantity. Although the fee for most transfers is $3.99, in some countries the fee will be higher depending on the amount you send.
  • Delivery. Sending cash usually has a higher fee, while sending to a bank account is cheaper.

Unlike many competitors, WorldRemit provides the same exchange rate no matter how much you transfer. This is another good option for those expats who are looking for a safe way to send money out of Oman.


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Xoom, owned by PayPal, runs at speed. Founded in 2001, the web provider completes most transfers within minutes. You can send money to over 160 countries with different delivery options such as bank transfer and local cash pickup depending on the country. But you will need to provide a lot of personal information in order to send large amounts of money.

Compared to its competitors, Xoom has an average exchange rate margin, and markup rates above the market average are also on par.

To use Xoom, you must first register for an account and download the mobile app. You can then send money through the app or by logging into the Xoom website. Your money transfers can be funded from a bank account, debit card, credit card, or PayPal balance.

Once the transfer is completed, you will receive an email or text notification of the status. You can also track the progress of your transfer in the app. Xoom charges a fee for all transfers. These fees usually start at $4.99 and increase from there. You can also use Xoom to pay your bills – the fee is $2.99.

One of the biggest advantages of using Xoom over other payment apps is that transfers are fast, usually within minutes. As for the exact transfer times, it depends on how you pay, as well as on the chosen delivery method.

If you use a credit card, debit card, or PayPal balance as your payment method, a Xoom transfer can often arrive instantly or within minutes. But it can be expensive, especially if you use a credit card.

Some destinations may take longer to transfer, even if you use the funding options above. Using a bank account tends to slow down the transfer process and it may take a few days for the money transfer to complete. It is important to note that large money transfers can also take longer than small money transfers.

When you use any personal finance or payment app, security is an important consideration. Xoom uses 128-bit data encryption to keep your data private. This means that you can be sure that your personal and financial data is protected.


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OFX is an online money transfer provider that ships to over 190 countries from the US through its website and mobile app. Its biggest advantage is cost: OFX offers rates comparable to its competitors and does not charge transfer fees. In addition, there is no maximum transfer amount.

If your recipient can wait a few days to receive the money, OFX can be a cheap option for sending money overseas. Shipping is subject to standard bank hours and processing so you generally won’t get same-day or next-day delivery with OFX. And you will need at least $500 to make a transfer. Moreover, both you and your recipient will need to have a bank account.

Using OFX is a relatively simple process. To get started, visit the OFX home page and click “Get Started” to register an OFX account.

Their system will first ask if you are transferring as an individual or through a legal entity. Make your choice and then follow the instructions to complete the relevant information and create your account.

After creating an account, OFX will ask you to verify your information by providing a photo of you holding a government-issued ID that has your photo on it. You can skip this step and come back to it later, but OFX will not process the transfer without verifying your identity.

In addition, OFX may contact you during the process to further verify or clarify some of your information.

Next, you will be able to set up the transfer by entering the amounts and selecting the appropriate currencies. After that, verify your bank account to fund the transfer and lock in the current transfer rate – for the US, you will use wire transfer, wire transfer, or ACH direct debit.

After financing the transfer, tell OFX the details of where you want to send the money and their system will take care of the rest. You can set up notifications in the settings and keep track of your transfer by simply logging into your account and clicking on the “Deals and Orders” tab.

You can also set up your account and make transfers easily on your smartphone by downloading the OFX app from your Android or Apple device. The process is exactly the same.


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This is an Estonian company that allows you to make transfers to other countries, paying only the difference in rates and a low commission. This is a great alternative to bank transfers, as the money goes to the recipient’s bank card, but you don’t lose money on interest.

To transfer you need:

  • Register on the company’s website (only for the sender). You get a real IBAN account, which you can also use to receive money from other countries
  • Select the amount you want to send
  • Add recipient bank details
  • Verify identity (ID photo)
  • Pay for the transfer
  • You can track your transfer

Money transfer startup TransferWise offers cheap ways to send money from the US to over 70 countries. The exchange rates are among the best you will find. You can fund the transfer in various ways, such as using a bank account or card, but the recipient must have a bank account. The highly acclaimed mobile apps and websites contain useful cost calculators and other information to make transfers convenient.

The company offers low commissions. The fixed cost for many countries is a combination of a fixed amount of around $1 and a percentage of just under 1% of the transfer amount.

Credit card fees are higher. Using an ACH transfer from your bank account or debit card is usually cheaper. If you pay by wire transfer with TransferWise, your bank will likely charge you a fee.

But this international money transfer is not always the best option for large amounts of transfers. Some providers charge no fees and offer competitive markups, which can make some transfers cheaper than TransferWise.

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