Author: Arwa Al-Zadjali

The Single Person Company (SPC), or alternatively known as the One-Person Company, represents a distinctive business legal structure blending the autonomy of a sole proprietorship with the protective veil of limited liability enjoyed by Limited Liability Companies (LLCs). Enacted under articles 291 to 297 of the Commercial Companies Law of 2019, the SPC caters to individual entrepreneurs and corporate entities seeking to isolate particular business activities within a single-owner framework. This blog post will provide details on the formation, liability, and limitations of SPCs under Omani law.

As money laundering and terrorist financing methods become more sophisticated, criminals are increasingly using multi-layered corporate structures to hide the individuals behind the business. This lack of transparency makes it difficult for authorities to trace illicit funds. In response, governments across the Middle East are shifting toward stricter transparency measures to align with international standards that require companies to disclose the identity of the ultimate beneficial owners, or UBOs, and maintain a register for the government to inspect at any time. This blog post will highlight the Omani legal framework in this regard and the key UBO obligations in Oman.