Monday, March 23, 2015

Developing and Implementing Risk Mitigation Strategies

In this penultimate installment of our managing contract risk series we explore how best to develop and implement risk mitigation strategies when entering into and performing procurement contracts.

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Monday, March 16, 2015

Mergers & Acquisitions and the Importance of Due Diligence

Companies contemplating Mergers and Acquisitions (M&A) understand the need to avoid acquiring potential legal and financial liabilities. While there may be significant financial and strategic benefits in an acquisition it also brings risks that need to be identified and analysed. Due diligence is used to identify deal breakers, set negotiation parameters and assess risks. Undisclosed risks and hidden liabilities are buried in most acquisitions and may be difficult to detect if a comprehensive due diligence has not been carried out.


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Wednesday, March 11, 2015

Overview of the Special Economic Zone Authority Duqm

Duqm is currently subject to one of the most ambitious infrastructure developments to have taken place in the Sultanate of Oman. The focus on this article is to provide an overview of the investment opportunities and incentives to investing in the Duqm Free Zone.


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Monday, March 9, 2015

Myths and Facts Regarding the Registered Capital of a Company in Oman

Lawyers are often asked to advise client entities about their registered capital requirements. In Oman, most companies without foreign shareholding can be established with a registered capital of just RO 20,000. The minimum capital requirement varies depending on the type of the company, the shareholding pattern, name and activities. For example, Omani companies, regardless of whether these are limited liability or joint stock companies, require a minimum capital of RO 500,000 if they have ‘Oman’ in their name and RO 2 Million if they are established as a ‘holding’ company. Similarly, limited liability companies with up to 70% foreign shareholding generally need a minimum capital of RO 150,000.

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Monday, March 2, 2015

Promotions

Raya Al Harthy


Curtis is pleased to announce that Raya Al Harthy has been promoted to an associate in the Litigation Department after completing two years of training with the firm’s Oman office. Raya is a qualified lawyer in the Sultanate of Oman, and obtained her LLB at the American University of Cyprus, before earning her LLM at the University of Leeds.


Zuhaira Al Sulaimani


Curtis is pleased to announce that Zuhaira Al Sulaimani has joined the Corporate Department of the firm’s Oman office as an associate, having completed two years of training. A qualified lawyer in the Sultanate of Oman, Zuhaira obtained her LLB at the La Trobe University and earned both her MA and BA Business Law degrees at Monash University, Australia.



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Introducing Malcolm Abaza

Curtis is pleased to announce that Malcolm Abaza has joined the International Corporate Department in the firm’s Oman office as a Senior Associate. Malcolm’s practice area extends to advising clients on a range of corporate, banking and Islamic finance matters.


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Wednesday, February 25, 2015

Amendments to Capital Market Law

The Capital Market Law (“Capital Market Law”) was amended on 10 November 2014 by way of Royal Decree 59 of 2014 (“Amending Law”). The Amending Law came into effect on the date of issue.


The Amending Law amends Articles 7(b), 12, 13, 17 (second paragraph), 52(2), 60, 63 A(3), 64, 65, 66, 67 and 68. The Amending Law has also added two new Articles – 68(bis) and 72. This article aims to highlight the significant amendments brought to the Capital Market Law.


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Tuesday, February 17, 2015

Managing Contract Risk in Procurement: Part 3 -- Identifying and Assessing Risk

In part one of our “Managing Contract Risk in Procurement” series, we provided a general introduction regarding the importance of analysing the risks associated with the product or service to be provided prior to entering into the contract. In this installment we deal with the actual identification and assessment of those risks.


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Monday, February 9, 2015

The Law Regulating Fish Markets

Issued on 14 December 2014 by the Ministry of Agriculture and Fisheries (“MOAF”), Ministerial Decision No. 312 of 2014 (“MD 312 of 2014”) was introduced to regulate the trade and control of fish markets in the Sultanate of Oman and is the focus of this article.


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Monday, February 2, 2015

The Residency Requirement of Authorised Managers and Signatories in Oman

The Ministry of Commerce & Industry (“MOCI”) has recently been requiring that all authorised managers and signatories (“AMS”) of newly formed limited liability companies become full-time residents in Oman (the “Residency Requirement”). As part of the registration process, the Ministry now requires that the resident cards of AMS be submitted. This is a significant change of policy which will have far-reaching implications for foreign investors in Omani companies.


The Residency Requirement has raised many questions, some of which we have provided answers to in this post.


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