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posted 3 months ago
Ministerial Decision Number 245 / 2025 (“Decision”), amending some provisions of the Implementing Regulations of the Commercial Companies Law, has been issued by the Ministry of Commerce, Industry and Investment Promotion which replaces the text of Article 92 of the Implementing Regulation which now reads as follows:
“With the observance of Article 263 of the Commercial Companies Law, whenever an application for the appointment of an authorised manager who is not a partner is filed through the electronic platform, a written approval from the manager to be appointed must be obtained”.
This means that any new authorised manager to be added and listed in the commercial register of an entity registered in Oman with the commercial register secretariat must sign a letter of appointment to be filed along with the written partners’ resolution and the amendment agreement to the constitutive contract of the company.
The second amendment that has been introduced by the Decision is the addition of Article 13 to the Implementing Regulations which provides that the authorised manager shall be considered the representative of the company pursuant to the provisions of the law and its constitutional documents if he falls under one of the following categories:
A. The partners or one of them.
B. The owner of the company.
C. Any of its board members.
D. Its manager or one of its financial or administrative employees.
Companies or any entities registered with the commercial register secretariat must implement those changes within six months.
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✔️ Verify no debts or disputes
✔️ Confirm zoning and permits.
#BrazilProperty #RealEstateInvesting #LegalDueDiligence #ForeignInvestment #PropertyLaw #GlobalRealEstate #InvestmentRisk #BrazilLaw
When your international business faces financial distress, quick action is key! 🔑 Negotiating with creditors, restructuring debt, and understanding insolvency laws can help regain stability. Global Law Experts is here to guide you through your options.
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