Regulations for registration of company trade names
Ministerial Decision No. 124/2016 came into force on 27 April
2016 and, in summary, prohibits the registration of company names
are a proper noun (unless it is the
name of the business owner or partner) or the collective name of a
tribe with the letters "Al" preceding it;
are identical or similar to the names
of existing international or local businesses, similar to a
registered trademark, or similar to honorific titles or symbols
belonging to an international or local organisation;
suggest or hold a military, political
or religious meaning or sense;
bear the word "Oman",
"Omani" or a derivative thereof (unless it is a joint
stock company); or
inaccurately suggest a geographical
area of the Sultanate.
The key point to note is that the Decision changes the previous
position that the word "Oman" (or a derivative) can be
used in the name of any company, including limited liability
companies (LLCs), provided the company has a paid-up capital of OMR
500,000. The law now permits the word "Oman" (or a
derivative) in the names of joint stock companies only, prohibiting
its use in the names of LLCs.
Existing LLCs with word "Oman" (or a derivative) will
not be affected.
Amending regulations for Ministerial Decision No. 174/2014
relating to contracting businesses in the construction sector
Ministerial Decision No. 174/2014 (Regulations for the
Organisation of the Activities of Enterprises and Companies
Operating in the Contracting Business) (the 2014 Regulations) has
recently been amended by the new Ministerial Decision 203/2016
which came into force on 31 August 2016 and applies to all
businesses performing contracting activities in the construction
The 2014 Regulations promulgated new regulations for contracting
businesses in Oman and was issued to ensure that contractors
(including business owners, authorised signatories and managers of
contracting businesses) abide by the laws applicable to
construction contractors. Some of the key provisions of the
2014 Regulations are that, all contracts entered into by
contracting companies are to be recorded in a special register
which government authorities may inspect, all signatories and
managers of contracting companies are required to obtain relevant
security clearance from competent authorities, all contracting
companies are required to be members of the Omani Association of
Contractors and the business activities of the contracting
companies shall be limited only to that of contracting.
Pursuant to the 2014 Regulations, contractors were to implement
the regulations by 18 June 2016. The new Ministerial Decision
203/2016 extends the implementation period. All construction
contractors are to now implement the 2014 Regulations by no later
than 31 December 2016, leaving just under three months for
companies to comply.
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Budget 2017 is out! In his recent Budget speech, Finance Minister Heng Swee Keat announced numerous initiatives to assist SMEs with adopting digital technologies and accessing intellectual property (IP) rights. Through these initiatives, companies may now obtain the support they need in order to tap on the digital economy and improve productivity.
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