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ARTICLE · 25 JULY 2019

Key Changes To The Law Regulating Partnerships In Oman

The new Commercial Companies Law (New CCL), promulgated by Sultani Decree 18/2019 repealing the old Commercial Companies Law (No 4/74) (Old CCL) has sought to bring more clarity and detail regarding the formation.

OmanCorporate/Commercial Law

Key changes for partnerships

The new Commercial Companies Law (New CCL), promulgated by Sultani Decree 18/2019 repealing the old Commercial Companies Law (No 4/74) (Old CCL) has sought to bring more clarity and detail regarding the formation, management and dissolution of partnerships. Set out below are the key changes brought by the New CCL impacting general partnerships, limited partnerships and joint ventures.

Changes which affect both general partnerships and limited partnerships

  • Name of the partnership: A partnership must now contain the name of at least one partner in its title. If all the partners' names are not included in the title, then the title must include the addition of "and Partners". A partnership can have a tradename, provided it indicates that it is formed as a general partnership or a limited partnership, as the case may be. 

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