Company formation, secretarial and corporate governance

We regularly advise on the establishment and licensing of all types of legal entity in Oman (both onshore and in its free zones), including:

  • Limited liability companies
  • Sole proprietor companies
  • Closed joint stock companies (SAOCs)
  • Public joint stock companies (SAOGs)

We are a full service law firm and we advise on all matters associated with company formation, including licensing and operational matters. Licensing requirements can be onerous, and we have excellent relationships with the Ministry of Commerce, Industry and Investment Promotion, the Oman Chamber of Commerce, and the various Ministries and Authorities responsible for issuing sector-specific licences.

We regularly advise leading international companies on the structuring of their equity investments into Oman under the Foreign Capital Investment Law and other applicable Omani laws and regulations.

We are retained as legal counsel by many of Oman’s leading joint stock companies, and we have developed a set of processes and procedures to ensure adherence to corporate governance laws, regulations and codes of practice. Our work includes:

  • Advising on corporate governance rules under the Companies Law and Codes of Corporate Governance;
  • Attending and advising on best practice at AGMs and EGMs;
  • Drafting and reviewing Articles of Association;
  • Providing training for the Boards of Directors of public joint stock companies;
  • Drafting terms of references for the Boards of Directors of public joint stock companies, and Committees thereof;
  • Reviewing corporate governance statements.

Selected projects

Advised the founders on the formation procedures of a new university in Muscat including compliance requirements by the Ministry of Higher Education and Ministry of Commerce & Industry and conducting all the constitutional steps required for obtaining the required licenses for the formation of the university.
Advised and assisted with the conversion of a major Petrochemicals LLC FZC into a closed joint stock company an SAOC FZC pursuant to loan covenant obligations; including shareholder restructuring, advising on changing the name of the company, preparation of amended Memorandum of Association and Articles of Association for the SAOC, convening of a general meeting to appoint a board of directors, liaising with the Salalah Free Zone Company and the Ministry of Commerce & Industry regarding the conversion at all stages.
SASLO advised the government on all legal aspects of the development of the Salalah Free Zone including land rights, financing of infrastructure, management and marketing agreements, the essential shareholding structure of Salalah Free Zone Company and relevant Royal Decrees.
Last year, SASLO advised more than a dozen of the largest publicly listed companies in Oman on the requirements of the new Commercial Companies Law (RD 18/2019). We reviewed and revised the Articles of Association and Shareholders Agreements of the concerned companies in line with the new Commercial Companies Law.
Recently, SASLO assisted more than 30 publicly listed companies in successfully conducting their various general meetings. The Covid-19 pandemic is presenting companies and directors with many challenges. Holding general meetings in these unprecedented circumstances is one such challenges. SASLO is helping its clients plan ahead, making sure the disruption to their regular business operations is minimal. The general meetings can be held as a physical meeting or through Muscat Clearing and Depository SAOC online system (“E-AGM” or "E-EGM").  
We are retained by many listed public joint stock companies, advising them on all aspects of corporate law and regulation. SASLO acted on the establishment of a number of prominent local companies such as Oman LNG, OQ Gas (previously known as OGC), OMIFCO, Oman Air, OMRAN, OCTAL and many many more.