JD Supra (JD Supra Oman)

أوائل مارس ي ف ٢٠٢٢ ،أصدر جاللة السلطان هيثم بن طارق المعظم حفظه هللا ورعاه ٥ أوامر سامية ي سلطنة عمان تطوير قطاع الهيدروج ي ف ي قدما ف ضي للم . الجديد عىل الهيا ك ت ر باإلضافة إىل الت كل دنتونز نرحب بشكل خاص بتوج ي الحكومية والتعليمات الخاصة بالدراسات وجمع المعلومات ، فإننا ف يه ، ي صاحب الجاللة بوضع السياسة واإلطار القانون ر واللوائح األكت ، ً تعترت ض تفصيال ورية ل رت ي ال دعم نمو ي عمان ا

Further to our February 2020 client alert on Oman's new Foreign Capital Investment Law (FCIL), Ministerial Decision 209/2020 has recently been issued listing 70 activities that must not be undertaken by a company that is subject to the FCIL (New MD).

The medium-term fiscal plan (MTFP) is upfront about the impact of continuing low oil prices and the COVID-19 pandemic on the Oman government's finances. The MTFP has been developed with the stated aim of "achieving fiscal balance in the medium term" and is to be implemented along with a number of new measures aimed at improving the business environment, stimulating investment in Oman and...

In an effort to respond to the on-going challenges faced by businesses and individuals as a consequence of the coronavirus pandemic and economic downturn, the Central Bank of Oman (CBO) has issued a raft of policy measures aimed at providing additional liquidity to local banks and finance companies, thereby facilitating continued support to affected customers (with specific focus on first time...

Royal Decree No.82 of 2020 (RD) creates the new job security fund (Fund) and comes into force on 1 November 2020. The Fund is a step towards greater social protection for Omani employees whose services have been terminated and job seekers (the Insured).

Oman is undergoing a constitutional shake-up in what has been hailed as the most sweeping reforms introduced yet by His Majesty, Sultan Haitham bin Tarek. A remarkable 28 new Omani Royal Decrees were announced on 18 August 2020 which signals a step in reducing the number of ministries (from 26 to 19) and the overall size of the government, and decentralising power by devolving authority from His...

On 31 May 2020, Lieutenant General Hassan Mohsin Al Shuraiqi, the Inspector-General of Police and Customs, announced a decision of the Royal Oman Police 157/2020 (Decision), which permits the transfer of an expatriate employee to another employer in Oman, in cases where the employment contract with the existing employer has ended. This Decision shall be published in the Official Gazette and will...

I am sitting in my garden at home on a sunny afternoon with a glass of white wine – and yes I had booked this day off as leave. I check my phone and see that all hell is breaking out on the news feeds. No, it’s not that we have passed the milestone of 200,000 COVID-19 deaths globally or that WTI has gone negative for the first time in history. There is another huge story (connected to these)...

Pursuant to Administrative Decision no. 17/2020 dated 20 February 2020 (Decision), the Oman Capital Market Authority (CMA) has instructed public joint stock companies (SAOGs) to replace their current articles of association with the new template form of articles of association for SAOGs set out in the Decision (Model Articles). The Decision has been issued at a time when most SAOGs are busy...

The Ministry of Manpower has issued Ministerial Decision 47/2020 (the MD). The MD adds "sales representative/sales promoter" and "purchase representative" to the categories of jobs from which expatriates are banned (although an expatriate currently working in a position which is subject to the MD can continue in his/her job until his/her current visa expires). 

The Foreign Capital Investment Law promulgated by Royal Decree 50/2019 (New FCIL) came into force on 1 January 2020. The New FCIL replaces the 1994 Foreign Capital Investment Law (Old FCIL).

Oman Legal Update - The Official Gazette is a governmental publication containing all laws, royal decrees, royal decisions, regulations, ministerial decisions, official and commercial announcements issued by the Government of Oman. Here, we summarise some of the most significant announcements from recent editions of the Official Gazette. 

The limited liability company (the LLC) is the most commonly incorporated form of company in Oman by both foreign investors and Omanis alike.

In the latest of our legal updates following the introduction of the new Commercial Companies Law (SD No. 18/19) (New CCL), we focus on the provisions dealing with accounts and auditors of joint stock companies in the Sultanate of Oman. Review of the relevant provisions of the New CCL reveals that action has been taken to expand on the provisions of the old Commercial Companies Law (SD No. 4/74) (

The process and requirements for establishing a joint stock company under the Commercial Companies Law promulgated earlier this year by Sultani Decree 18/2019 (New CCL) are, on the whole, the same as under Sultani Decree 4/1974 (Old CCL), which it replaced. There are, however, a raft of provisions relating to promoters of joint stock companies that were not included in the Old CCL, most...

It was announced on 1 July 2019 that five new pieces of legislation will be issued in Oman, all aimed at attracting foreign investment and improving private sector involvement. These are...

Key changes for partnerships - The new Commercial Companies Law (New CCL), promulgated by Sultani Decree 18/2019 repealing the old Commercial Companies Law (No 4/74) (Old CCL) has sought to bring more clarity and detail regarding the formation, management and dissolution of partnerships. Set out below are the key changes brought by the New CCL impacting general partnerships, limited...

The introduction of the new Commercial  Companies Law (New CCL), which came into effect on 17 April 2019 repealing the old Commercial Companies Law (No 4/74) (Old CCL), brings a number of measures aimed at creating a more transparent and robust corporate governance regime in Oman.

On 7 May 2019 the Ministry of Manpower (the Ministry) issued Ministerial Decision 221/2019 (the MD), implementing a ban on both issuing and renewing work permits for non-Omani individuals in nine job roles in the private sector. The MD came into force on 13 May 2019. This ban follows a number of similar measures in Oman in recent years, which all have the reduction of the unemployment level of...

The long-awaited new Commercial Companies Law (New CCL) was published in the Official Gazette on 17 February 2019. It repeals the old Commercial Companies Law (No 4/74) (CCL) and became effective on 17 April 2019. Regulations providing further guidance in respect of the New CCL are expected to be issued within a year (Regulations).

Ministerial Decisions - Ministry of Higher Education - Ministerial Decision no. 14/2019, issued on 1 April 2019, issuing the Colleges of Applied Sciences’ Consultancy Management Regulations.

Ministerial Decisions - Ministry of Heritage and Culture - Ministerial Decision no. 43/2019, issued on 25 March 2019, issuing the Regulations for the Management of Private Theatre Troupes.

Parties typically enter into business with ambitions to promote growth opportunities, pool resources and, ultimately, increase shareholder return. During the preparation of various cash flow forecasts and business growth charts, often inadequate thought is given to the future possibility of a corporate deadlock.

Ministerial Decisions - Ministry of Agriculture and Fisheries - Ministerial Decision no. 75/2019, issued on 4 March 2019, issuing the Regulations for the Management of the Sultanate’s exports of fish.

Royal Decrees - - Royal Decree no. 23/2019, promulgating the Selective Tax Law - Royal Decree no. 24/2019, setting up a Centre for Food Safety and Quality at the Ministry of Regional Municipalities and Water Resources - Royal Decree no. 25/2019, appointing a non-resident ambassador

Decisions - Muscat Municipality - Decision no. 71/2019, issued on 18 March 2019, amending certain provisions of the Local Order no. 23/92 on the Management of Buildings in Muscat.

On Wednesday 13 March 2019, His Majesty Sultan Qaboos issued Sultani Decree (no. 23/2019) promulgating the Selective Tax Law (Selective Tax Law). The Selective Tax Law levies tax on selected goods which include: tobacco and its derivatives; energy drinks; carbonated drinks; alcoholic beverages; and pork and its derivative products.

Royal Decrees - Royal Decree no. 22/2019 setting up the National Recruitment Centre under the control of the Council of Ministers and issuing its Articles.

Public Announcements - Ministry of Awqaf and Religious Affairs Summary of articles of association of Sur Waqf Foundation. Summary of articles of association of Suwaiq Waqf Foundation. Summary of articles of association of Al Khaborah Waqf Foundation. Summary of articles of association of Saham Waqf Foundation....

Royal Decrees - Royal Decree no. 18/2019, issuing the Law of Commercial Companies. Royal Decree no. 19/2019, issuing the Law of Mineral Wealth. Royal Decree no. 20/2019, issuing the Law of Live Aquatic Wealth. Royal Decree no. 21/2019, amending certain provisions of the Royal Decree no. 2/93 setting up the Royal Omani Amateur Radio Society.