Regulatory Alerts2019-02-13 | No. 18/19Royal Decree No. 18/19 on the Issuance of the Commercial Companies Law
Sultan Qaboos bin Said issued Royal Decree No. 18/19 to enact a comprehensive Commercial Companies Law that supersedes the 1974 legislation and establishes seven distinct legal forms for commercial entities, including one-person and holding companies. The decree mandates all existing commercial companies to align their structures within one year of the law's entry into force, while granting the Ministry of Commerce and Industry and the Capital Market Authority joint oversight to issue implementing regulations. It further standardizes capital contributions, corporate governance principles, and detailed procedures for company conversion, merger, dissolution, and liquidation to enhance regulatory clarity and market stability.
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