Whilst registering a limited liability company (“LLC”) in Oman, clients often enquire about the upside of incorporating an LLC with higher capital and how does the grade specified by the MOCI benefit the LLC.
Thursday, October 23, 2014
Monday, October 13, 2014
The Sultanate of Oman recently issued a new Omani Nationality Law (RD 38/14) (“New Law”) which replaces the earlier Omani Nationality Regulatory Law promulgated by RD 3/83 (“Old Law”).
Tuesday, October 7, 2014
Royal Decree 39/14 issued on August 12, 2014 introduces new regulatory requirements for insurance companies (“Royal Decree”).
Monday, September 29, 2014
Oman and Japan: Double Tax Treaty
Royal Decree 23/14 has ratified the convention between the governments of the Sultanate of Oman and Japan as on page 2 on the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income (the “Convention”). The Convention was signed earlier in the year on January 9, 2014.
Monday, September 22, 2014
Promotions and Promotional Offers are governed and regulated by Ministerial Decision No 239 of 2013 (“MD 239/13”) of the Ministry of Commerce and Industry (“MOCI”).
According to MD 239/13 Promotional Offer is defined as “any scheme that provides offers that promote a specific commodity or service during a specific time in return for giving the consumer a prize, gift, service or any other benefit”.
Tuesday, September 16, 2014
When drafting commercial contracts, one must be particularly careful in ensuring that all legal and commercial terms are unambiguous and carefully constructed. This is especially true for dispute resolution clauses. This article explores common issues that arise from poorly constructed dispute resolution clauses, and suggests tips on how to ensure that these clauses are succinctly drafted.
Monday, September 8, 2014
The Dodd Frank Wall Street Reform and Consumer Protection Act (the “Dodd Frank Act” or the “Act”) became law on July 21, 2010. Whilst the Dodd Frank Act has established a comprehensive reform of the United States (“US”) financial regulatory system, and has made changes to most of the financial industry, the focus of this article is based on the Act’s effect on swaps. In particular, this article addresses the requirement that certain swaps need to be cleared through clearing houses (“clearing requirements”).
Friday, August 29, 2014
In July, Oman’s Commercial Agencies Law (“CAL”) was amended by virtue of a new law, Royal Decree 34/14.
It is one of the most significant changes in Omani law in recent times.
We are pleased to announce that Florian A. Maier-Leonhardt is joining the Muscat office in September as a counsel in the Corporate and Commercial team. Florian is a German attorney-at-law, admitted to the Munich Bar Association. He has lived and worked as a corporate and commercial lawyer in the UAE and the Sultanate of Oman since 2006. Prior to joining Curtis, Florian was working with an international law firm in Abu Dhabi and a local law firm in Muscat.
Thursday, August 28, 2014
Royal Decree 34 of 2014: Amending some provisions of the Commercial Agencies Law
The Commercial Agencies Law promulgated by Royal Decree 26 of 1977 (as amended) deals with the relationship between a manufacturer or supplier (the “Principal”) with no legal existence in Oman and a company or merchant in Oman (the “Agent”) who enter into an agreement. The agreement would permit the Agent to sell, promote or distribute the goods, products or services of the Principal. The latest set of amendments to the Commercial Agencies Law is Royal Decree 34 of 2014 (the “RD”) effective from July 21, 2014.