The Riyada Card
Empowering Omani Entrepreneurs with Exclusive Benefits and Support Programs to Propel Your Business Forward.
Get Your Riyada CardIntroducing the Riyada Card
The Riyada Card is a flagship initiative by the Authority for Small and Medium Enterprises Development (Riyada) in Oman. Designed to empower Omani entrepreneurs, this card unlocks a wide array of benefits, incentives, and support mechanisms aimed at fostering business growth and sustainability.
Whether you are a startup or an established SME, the Riyada Card provides tailored support to help you navigate the challenges of entrepreneurship and seize new opportunities for expansion and innovation.
Benefits of the Riyada Card
Unlock a comprehensive suite of benefits designed to support and elevate your business.
Financial Incentives
Benefit from fee waivers, reduced interest rates, and access to preferential financing options.
- Fee Waivers on Registrations
- Preferential Loan Rates
- Subsidized Financial Services
Market Access
Gain access to local and international markets through exhibitions, trade shows, and online platforms.
- Participation in Trade Fairs
- Business Matchmaking Events
- Online Marketplaces Support
Capacity Building
Enhance your business skills through training programs, workshops, and mentorship opportunities.
- Business Management Training
- Mentorship Programs
- Workshops and Seminars
Operational Support
Access resources and tools to streamline your business operations and improve efficiency.
- Logistics Support
- Technology Adoption Assistance
- Legal and Accounting Services
Marketing Support
Enhance your brand presence and reach through strategic marketing initiatives and support.
- Digital Marketing Assistance
- Brand Development Workshops
- Promotional Materials Support
Networking Opportunities
Connect with fellow entrepreneurs, industry leaders, and potential investors through exclusive events.
- Exclusive Networking Events
- Investor Meetups
- Business Matchmaking Sessions
How to Apply for the Riyada Card
Follow these simple steps to apply for your Riyada Card and start reaping the benefits.
Step 1: Register Your Business
Ensure your business is legally registered with a valid commercial registration in Oman.
Step 2: Complete Online Registration
Visit Riyada’s online portal, create an account, and fill out the application form with your business details.
Step 3: Submit Required Documents
Upload all necessary documents such as your Omani ID, commercial registration, and business plan.
Step 4: Await Approval
Riyada will review your application and notify you of the status via the online portal or email.
Step 5: Receive Your Riyada Card
Once approved, your Riyada Card will be issued, granting you access to all associated benefits and support services.
About the Riyada Card
Discover how the Riyada Card can transform your entrepreneurial journey with exclusive benefits and comprehensive support.
Under the visionary leadership of His Majesty Sultan Haitham bin Tariq, the Sultanate of Oman is committed to fostering a thriving entrepreneurial ecosystem. Recognizing the pivotal role of Small and Medium Enterprises (SMEs) in economic diversification and job creation, the Authority for Small and Medium Enterprises Development (Riyada) has launched the Riyada Card program.
The Riyada Card is designed to empower Omani entrepreneurs by providing access to a wide range of financial incentives, market access opportunities, capacity building resources, and operational support mechanisms. Whether you are a budding startup or an established SME, the Riyada Card serves as a gateway to achieving sustainable growth and success.
Financial Incentives for SMEs
Maximize your business potential with our comprehensive range of financial support options designed for growth.
Preferential Loan Rates
Access loans at interest rates significantly lower than the market average, helping you manage your finances more effectively.
Fee Waivers
Enjoy waivers on various government fees including commercial registration, municipality permits, and more.
Subsidized Services
Benefit from subsidized rates on essential services such as utilities, telecommunications, and logistics.
Eligibility Criteria
Ensure your business meets the following criteria to qualify for the Riyada Card.
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Omani Citizenship
Applicants must be Omani nationals.
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Active Business Registration
Your business must be actively registered in Oman with a valid commercial registration.
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SME Classification
Your business must fall under the definition of a Small or Medium Enterprise (SME) as defined by Riyada, considering factors like the number of employees, annual revenue, and capital investment.
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Compliance with Regulations
Your business must be compliant with all relevant laws and regulations in Oman.
Categories of Riyada Cards
Choose the card category that best suits your business needs.
Standard Riyada Card
Suitable for most SMEs that meet the eligibility criteria, offering a comprehensive range of benefits.
- Access to Financial Incentives
- Market Access Opportunities
- Capacity Building Resources
Premium Riyada Card
Designed for high-growth SMEs and innovative businesses, offering enhanced benefits and exclusive support.
- Enhanced Financial Support
- Exclusive Networking Events
- Priority Access to Workshops
Sector-Specific Riyada Cards
Tailored for businesses operating in priority sectors such as tourism, manufacturing, and technology, offering specialized incentives.
- Tourism Sector Incentives
- Manufacturing Sector Support
- Technology Sector Benefits
Incubation and Acceleration Programs
Accelerate your business growth with our tailored incubation and acceleration services.
Startup Incubation
Provide startups with access to shared workspaces, mentorship, and networking opportunities to fuel their growth.
- Access to Mentorship
- Networking Opportunities
- Shared Workspaces
Business Acceleration
Accelerate your business growth with advanced training, strategic planning, and access to new markets.
- Strategic Planning Workshops
- Market Expansion Support
- Access to Investment Networks
Innovation Support
Foster innovation within your business with access to R&D funding, innovation workshops, and technology resources.
- R&D Funding Access
- Innovation Workshops
- Technology Resources
Frequently Asked Questions
What is the Riyada Card?
The Riyada Card is an exclusive tool provided by the Authority for Small and Medium Enterprises Development (Riyada) in Oman. It offers a range of benefits designed to support and enhance the growth of Omani SMEs.
Who is eligible to apply for the Riyada Card?
Eligibility criteria include Omani citizenship, active business registration in Oman, classification as a Small or Medium Enterprise (SME), and compliance with relevant laws and regulations.
What are the benefits of holding a Riyada Card?
Benefits include financial incentives like fee waivers and preferential loan rates, market access through exhibitions and networking events, capacity building through training programs, and operational support including logistics and technology adoption assistance.
How do I apply for the Riyada Card?
Applications can be submitted through Riyada's online portal. You will need to create an account, provide necessary business and personal information, and upload required documentation.
Are there different types of Riyada Cards?
Yes, there are different categories such as the Standard Riyada Card, Premium Riyada Card for high-growth SMEs, and Sector-Specific Cards tailored to priority sectors like tourism, manufacturing, and technology.
What documents are required for application?
Typically, you will need to provide a copy of your Omani National ID, commercial registration certificate, business plan, financial statements, and any other supporting documents specified by Riyada.
How long does the application process take?
The application review process typically takes a few weeks. Applicants will be notified of their application status through the online portal or via email.
Can I upgrade my Riyada Card?
Yes, businesses demonstrating significant growth, innovation, or contributions to the national economy may be eligible to upgrade to a Premium Riyada Card.
What support services are available to cardholders?
Cardholders have access to a variety of support services including training programs, mentorship, legal and accounting advisory services, and networking events.
Is the Riyada Card renewable?
Yes, the Riyada Card is renewable annually, subject to continued eligibility and compliance with program requirements.
Impact of the Riyada Card on Omani Economy
The introduction of the Riyada Card has significantly bolstered Omani SMEs, contributing to economic diversification and job creation. By providing essential financial incentives and support services, the card helps businesses expand, innovate, and compete in both local and international markets.
Key impacts include:
Job Creation
Empowering SMEs to grow leads to increased employment opportunities for Omani citizens.
Economic Diversification
Reducing reliance on traditional sectors by fostering growth in technology, manufacturing, and services.
Innovation and Competitiveness
Encouraging businesses to adopt innovative practices and technologies enhances overall competitiveness.
Regional Development
Supporting businesses across various regions promotes balanced economic development.
Future Directions of the Riyada Card Program
Riyada continues to evolve its Business Card program to meet the changing needs of entrepreneurs and the economy.
Looking ahead, Riyada plans to introduce more specialized card categories tailored to emerging industries and technological advancements. By continuously expanding the scope of incentives and strengthening partnerships with financial institutions and industry leaders, the program aims to provide even greater support to SMEs.
Additionally, Riyada is focusing on enhancing digital platforms to streamline the application and benefit utilization processes, making it easier for entrepreneurs to access the resources they need. Embracing sustainability and promoting eco-friendly business practices are also key priorities to ensure long-term economic and environmental resilience.
Through these initiatives, the Riyada Card program will remain a pivotal tool in driving Omani SMEs towards a prosperous and inclusive future.