MUSCAT : The initiative to convert LLCs into closed joint stock companies follows recent government directives aimed at strengthening the local business landscape.
As per the Ministry notice, the process involves following steps:
- Log in to the Oman Business Platform
- Update the commercial register
- Change the legal form of the company
- Remove the names of existing partners
- Add the names of founding committee members
- Attach all required documents
- Submit the request for inspection
- Verify the application with the relevant employee
- Resubmit the request if necessary
- Await final verification of the application.
This move, aligned with royal directives, aims to bolster the Omani economy by ensuring the continuity of family-owned businesses, which form a significant part of the country’s economic landscape.
The initiative will enhance corporate governance, transparency, and investor confidence. By simplifying conversion procedures, the ministry seeks to facilitate the transition for businesses.
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