This regulation allows closed joint stock companies (SAOCs), referred to as rising companies in the regulation, to be listed on the Rising Companies Market. The regulation provides that rising companies can be listed in the market either through direct listing or indirect listing if the rising company meets the requirements for the method it wishes to be listed through.

This new regulation paves the way for SAOCs to increase their capital and opportunities of investments from serious and qualified investors, and it can be seen as a way of encouraging LLCs to become SAOCs and be listed on the Rising Companies Market.

This decision comes into force as of tomorrow. To learn more about the Regulation Governing the Rising Companies Market, you can read it in full in English on the link below:

Scope of Application

The biggest difference between the two instruments is their scope. The policy applies to personal data held by the government while the law applies to everyone else. This is peculiar because government entities are amongst the largest retrievers of personal data (the government collects data for public services such as healthcare and education) and they should be held accountable under the law, which as will be shown below has more obligations and restrictions.

Legal Effect

Although policies in Oman are expected to be followed, they are not legally binding, and merely serve as guidelines. Accordingly, while the Personal Data Protection Law is legally binding, the Personal Data Protection Policy is not. This means that the provisions of the policy serve as recommendations rather than being required to be followed.

Nature of Rights

The personal data protection legislation is usually comprehensive, as it covers the rights of the data subjects, obligations of data controllers, and the means by which data is received and transferred. These areas all covered in the Omani Personal Data Protection Law in great detail, but only vaguely outlined in the Personal Data Protection Policy, which serves to offer practical guidelines for the procedures of implementing the concepts of data protection.

Data Protection Officer

Under the Personal Data Protection Law, it is mandatory to appoint a data protection officer (DPO) as an expert who upholds the integrity of data processing and keeps their respective entity in check. Lacking a DPO is illegal, and could potentially invite heavy fines. No such mandate is found in the Personal Data Protection Policy, which is problematic since government entities are exempt from the law. This weakens accountability, proficiency, and leads to inconsistent data processing methods.

Conclusion

These were four important differences between the Personal Data Protection Law and the Personal Data Protection Policy. It must be noted that entities are expected to comply with both legal instruments by 2026.

It is highly recommended that you review these two important legal instruments down below. You can read these two documents in full in English at the link below:

Ownership Structure

LLCs are formed by multiple shareholders, with a minimum of two and a maximum of fifty shareholders. The share capital is divided among these shareholders. Whereas, SPCs are owned entirely and exclusively by one individual or entity. Thats why many people understand SPCs to be essentially LLCs, but with a single shareholder.

Number of Companies a Person Can Establish

LLCs have no specific limitation on the number of companies a person can establish, on the other hand, in regard to SPCs, a natural person may not establish more than one SPC, and a SPC cannot establish another SPC.

Management and Continuity upon Owner’s Death

In terms of management and continuity, LLCs are managed by one or more managers appointed by the shareholders, and the company continues to exist regardless of changes in shareholders. Whilst SPCs are managed by the sole owner, who may also appoint managers, and a SPC ceases to exist upon the death of the owner unless the shares of the heirs are held by one person or the heirs decide to change the SPC to a different legal form.

Operational Formalities

A LLC is required to have a shareholders meeting at least once a year, and it must appoint an external auditor if certain conditions are met (such as having more than seven shareholders or having a capital exceeding fifty thousand Rial Omani). These formalities are not required for SPCs at all.

Conclusion

LLCs and SPCs are very similar, but there are some key differences between them. It is highly recommended for any lawyer working in corporate matters to familiarise themselves with all the provisions of the Commercial Companies Law. You can read the Commercial Companies Law in English in full at the link below:

Written by:

Malaak Al-Lawati

Malaak is a legal intern at Decree. She has previously interned in private practice. She is interested in corporate law and commercial law. She is about to start the final year of her LLB degree at Cardiff University.

1. Annual Leave

The annual leave is the most common type of leave, it entitles an employee to a minimum of 30 days of paid leave, granted they complete six months of employment. It can be taken in parts and can be carried over to the next year, provided that the total balance does not exceed 30 days, unless the leave was not taken due to work requirements.

2. Maternity Leave

Female employees are entitled to 98 days of paid maternity leave. This could be started at most 14 days before the expected date of birth. Something interesting most people don’t know is that this special treatment extends to when she comes back to work, as she is entitled to a one hour paid break per day for childcare for one year.

3. Paternity Leave

New fathers can get 7 days of paid paternity leave within 98 days of the child’s birth. If the mother passes away during childbirth or while on maternity leave, the father is entitled to the remainder of the maternity leave.

4. Sick Leave

If an employee provides a medical certificate from a recognised medical authority, the employee is granted a maximum of 182 days of sick leave per year. The employee is entitled to the full salary for the first 21 days. Should the employee’s illness continue, the pay is gradually reduced: the employee receives 75% of the salary for days 22-35, 50% for days 36-70, and 35% for the remaining time up to the 182-day annual limit.

5. Bereavement Leave

When losing a loved one, the Omani Labour Law grants employees paid leave to grieve. The employee is entitled to 10 days for the death of a spouse or child, 3 days for a parent, grandparent, or sibling, and 2 days for an aunt or uncle.

6. Iddah Leave

Iddah in Sharia law is the period a Muslim woman must observe in her home after the death of her husband. In that case, she is allowed 130 days, as opposed to 14 days for non-Muslim women.

7. Hajj Leave

Hajj is the annual pilgrimage Muslims perform in Mecca. The Labour Law grants Muslim employees 15 days of paid leave once during their service to perform the Hajj.

Conclusion

These were some of the leaves granted to employees under the Labour Law. It is important to note that there are other types of leaves that were not covered, such as marriage, study, and patient accompaniment leave. We highly recommend that all employers and employees make themselves familiar with all the provisions of the Labour Law.

You can read the Labour Law in full in English at the link below:

Written by:

Khalid Al-Ghafry

Khalid is legal intern at Decree. He has previously interned in both Omani and international law firms. He is about to start his final year in Law School at the University of Manchester.

The Sultan is the Prime Minister?

The current Prime Minister is Sultan Haitham. However, the Basic Statute of the State allows the Sultan to appoint someone else to be the Prime Minister. Most people don’t know that there was a period of time the Sultan actually appointed a Prime Minister. This happened between the years 1970 – 1972, where Sultan Qaboos appointed Sayyid Tariq bin Taimur (Sultan Haitham’s father) as Prime Minister.

Who Qualifies for the Council of Ministers?

For a person to be appointed a member of the Council of Ministers, they must be at least 30 years of age and they must be of Omani nationality by origin. The age requirement is to balance appointing young and talented leaders, while also ensuring they have the required experience.

Executive but with legislative roles?

The Council of Minister has many functions as the main body of the executive branch of the government, such as overseeing the functioning of the administrative apparatus of the state, monitoring the performance of its duties, and coordinating between its units. However, the Council of Ministers also drafts laws and royal decrees, which can be seen as being interconnected with the legislative branch of the government. If you are further interested in understanding the separation of powers in Oman, check out this post on our blog.

Ministers On Boards of Public Companies?

The Basic Statute of the State prohibits members of the Council of Ministers from being members of any board of directors of any public joint stock company (SAOG) during their tenure. However, they are not restricted from being members of boards of directors of other forms of companies, such as LLCs, and SAOCs.

Conclusion

The Council of Ministers remains one the most crucial bodies in the government of the Sultanate of Oman. You can learn more about it by reading the Basic Statute of the State in full in English at the link below:

Written by:

Khalid Al-Ghafry

Khalid is legal intern at Decree. He has previously interned in both Omani and international law firms. He is about to start his final year in Law School at the University of Manchester.

Preserving the independence and integrity of the country

Oman is internationally known for its peaceful and harmonious character, this anchors the nation’s sovereignty and ensures its unity amid regional and global challenges. It is through His Majesty’s efforts that Oman’s reputation is maintained, preserving and protecting the state’s rich history.

Safeguarding the rights and liberties of citizens

The duty of the Sultan to safeguard citizens’ rights and freedoms in Oman is realised through a constitutional and legal regime emphasizing justice and the rule of law. It entails the protection of fundamental human rights founded on constitutional guarantees and rigorous judicial safeguards.

Guaranteeing the rule of law and directing the public policy of the state

Establishing the legal framework and national direction promotes social and economic stability. The Sultan’s role, assisted by the Council of Ministers, reflects a governance structure with separation of powers, the legislative process and the judicial authority.

Presiding over the Council of Ministers

In the context of Oman, the leadership of the Council of Ministers is vested in His Majesty the Sultan, who may serve as a Prime Minister or appoint someone to this position.

Promulgating laws, ratifying international treaties, and granting pardons

Promulgation refers to the formal process by which laws are officially issued and made enforceable within the country. Treaty ratification is a critical step that provides the Sultanate of Oman with formal commitment to international agreements. Finally His Majesty has the power to grant pardons as a sovereign prerogative.

Conclusion

Oman’s Basic Statute of the State articulates the Sultan’s role as foundational to the country’s stability, prosperity, and identity. The duties of the Sultan reflect a governance system that blends traditional monarchy with modern institutional frameworks, balancing authority with responsibility for the Omani people.

For those interested in further exploring the Omani constitutional law, the Basic Statute of the State remains a key document that encapsulates the legal and political principles governing the Sultanate today.

You can read the Basic Statute of the State in full in English through the link below:

Written by:

Malaak Al-Lawati

Malaak is a legal intern at Decree. She has previously interned in private practice. She is interested in corporate law and commercial law. She is about to start the final year of her LLB degree at Cardiff University.

What Are Market Disclosures and Why Are They Important?

Market disclosures refer to the information that listed companies are required to publish to the public, investors, and regulatory authorities. These disclosures cover a broad spectrum of data, including financial statements, material events, corporate governance practices, and increasingly, environmental, social, and governance (ESG) information. The aim is to ensure that stakeholders receive timely and reliable updates that may influence the valuation or trading of the shares of a publicly listed company.

The Financial Services Authority (FSA) and the Muscat Stock Exchange (MSX) jointly oversee these obligations, issuing various decisions and circulars to guide the process. Disclosures are not limited to periodic financial results but also include information that could significantly impact market perception, such as dividend policies, board resolutions, and clarifications on market rumours or unusual trading activity.

The importance and purpose of market disclosures extends beyond simple regulatory compliance. By providing investors with consistent, accurate, and timely information, disclosures help identify and address information asymmetries, which can otherwise lead to unfair trading advantages or price manipulation. This transparency enables informed decision-making, promotes equal access to information, and helps maintain market integrity and investor confidence. The regulatory framework also provides enforcement mechanisms to ensure that non-compliance results in appropriate penalties, thereby reinforcing the significance of continuous and accurate reporting.

Legal Framework Governing Disclosures

The legal framework governing disclosures in Oman is comprehensive and draws on several primary and secondary sources of legislation. The Securities Law of 2022 governs a variety of securities including stocks. Articles 32 and  34 of this law prohibit trading of all securities based on undisclosed insider information and mandates the disclosure of material information required by law, which imposes duties of transparency and fairness, and requires regulated entities to disclose material facts that could influence trading decisions.

It is worth noting that article II of the Royal Decree 46/2022 Issuing the Securities Law mandated that an executive regulation for this law must be issued by June 2023, however, the FSA has not issued the regulation yet and accordingly, we have to refer to the executive regulation of the old Capital Market Law issued by the former Capital Market Authority (now the FSA) to implement the legal requirements set by the Securities Law. Part seven of this executive regulation details the methods, timing, and scope of material disclosures, including quarterly and annual financial results. Complementing this, the CMA Circular CMA/236/2014 outlines practical expectations, such as the requirement to publish financial news at least thirty minutes before trading sessions and to disclose audited financials within five days of board approval.

The Public Joint Stock Companies Regulation also defines the meaning of material information and specifies detailed procedures and timelines for publication of financial statements and disclosures. These provisions ensure that all disclosures are made in a structured and timely manner, with accountability placed firmly on the company’s board of directors.

In parallel, MSX Decision 77/2025 mandates public joint stock companies to disclose ESG practices through both the MSX platform and their own websites. These disclosures must be made within 30 days of the end of the financial year, or 45 days for companies with subsidiaries, and must present a balanced view that includes both positive achievements and material challenges.

Conclusion

Market disclosures are a cornerstone of Oman’s capital market integrity. By mandating consistent, comprehensive, and timely communication from listed companies, the regulatory framework ensures that investors are well-informed and that the market operates on principles of fairness and accountability. The FSA might issue the new regulation of the Securities Law at any time, therefore, it is important to stay up to date with new developments in this area.

You can search for the last MSX disclosures and track the disclosures of specific companies on Decree Risk on the link below:

Written by:

Zainab Al-Lawati

Zainab is a legal intern at Decree. She has previously interned in various sectors including the government, private practice, the banking sector, and the energy sector. She is interested in commercial and corporate law. She holds an LLB from the University of Bristol.

To start with, it is worth noting that the Advocacy and Legal Consultancy Law governs the work of law firms, and has no implications for legal professionals working as legal advisors in companies and other organisations, such as banks, telecom companies, or any other corporation. This means that restrictions imposed on foreign lawyers who wish to work as advocates or as legal consultants in a law firm do not apply to foreign lawyers wishing to work as in-house counsel.

The Old System

Under the previous legal framework, Oman prohibited foreign lawyers from appearing before its courts. However, this did not stop law firms from hiring foreigners in roles such as “legal advisors” and “legal experts,” without registering them with the Ministry of Justice and Legal Affairs, to provide legal advice without appearing before any court. This practice was tolerated by the government, even though it would be considered in the grey zone at best.

Advocacy Offices and Legal Consultancy Offices

The new Advocacy and Legal Consultancy Law made substantial changes to the way law firms operate in Oman by introducing two distinct types of legal entities: advocacy offices and legal consultancy offices. Advocacy offices can offer all forms of legal services, including litigation services and can only hire Omani advocates. Legal consultancy offices can offer legal services and arbitration services, but not litigation before Omani courts, and can hire both Omani and foreign legal consultants.

The Executive Regulation of the Advocacy and Legal Consultancy Law also added additional requirements for recruiting foreign lawyers in legal consultancy offices, the most important being that a foreign lawyer must have at least five years of experience to be registered as a legal consultant.

Even though the law now allows foreigners to be formally registered with the Ministry of Justice and Legal Affairs, the law allows Omanis only to be the owners of a legal consultancy office. In addition to the ability of foreigners to register as legal consultants in Oman, the law now has a formal framework for establishing partnerships between Omani and foreign law firms and for establishing branches for foreign law firms. Under Article 64 of the law, foreign participation in legal consultancy is permitted through the establishment of a new office in partnership with an Omani legal consultancy firm, but not with an Omani advocacy firm. This means that a foreign law firm cannot form a formal partnership with an Omani law firm that provides litigation services.

Branches of Foreign Law Firms

Furthermore, the law now also allows foreign law firms to establish branches in Oman without any local partners. However, this is only permitted for law firms that have branches in three other countries and have been established for at least fifteen years. However, it is worth noting that the lawyers working in the Omani branch must fulfil the requirements for the registration of legal consultants. This means that the branch would only be able to hire foreign lawyers who have at least five years of experience.

In addition to these tightly controlled entry mechanism for foreign law firms and the practice of foreign lawyers, the law contains a narrow exception under article 17 that permits foreign advocates—whether from Arab or non-Arab countries—to appear before Omani courts in a specific lawsuit as long as the foreign lawyer is working in partnership with an Omani advocate and as long as there is a reciprocity arrangement exists between Oman and the home country. The approval of the Chairman of the Advocates and Legal Consultants Affairs Committee is also required. This unique provision appears to be reserved for unique cross-border cases and is unlikely to apply to foreign lawyers residing or practising in Oman on a permanent basis.

Conclusion

The new Advocacy and Legal Consultancy Law and its executive regulation provide new opportunities for foreign lawyers to practice in Oman and will transform the legal industry. You can read the law and its executive regulation in English in full on the links below:

Written by:

Zainab Al-Lawati

Zainab is a legal intern at Decree. She has previously interned in various sectors including the government, private practice, the banking sector, and the energy sector. She is interested in commercial and corporate law. She holds an LLB from the University of Bristol.

The constitution of the Sultanate of Oman, formally known as the Basic Statute of the State, is the supreme legislative document in the country. It governs the operation of the institutions of the state and determines the relationship of the states with all individuals while providing structure and clarity on the operation of the government. The Basic Statute of the State was issued by His Majesty Sultan Qaboos through Royal Decree 101/96 in the year 1996 as a gift to the people of Oman. Since then, it was amended twice, in 2011 and 2021. This blog post will outline the status of the legal system before 1996, before outlining the changes made to the Basic Statute of the State throughout the years.

Legal System Pre 1996

Prior to the issuance of the Basic Statute of the State in 1996, Oman had a sophisticated and codified legal system that started from the accession of Sultan Qaboos into power in 1970, including legal instruments that governed the operation of the government, an elected Shura Council, and a robust court system. However, Oman did not have a single comprehensive legal system that clearly determined the duties of the Sultan, the Council of Ministers, and the duties and responsibilities of the state and the citizens.

The Basic Statute of the State of 1996

The Basic Statute of the State was issued as the first Omani constitution by Royal Decree 101/96. This document declared Oman as an independent Arab state, affirmed Islam as the religion of the land, and stipulated that Arabic is the official language of the state. It set the rules for accession through the secret will system, defined the concept of separation of powers within the Omani context, and determined the rules of the Sultan, the duties of the state, and the rights and responsibilities of citizens, among many other constitutional matters.

The First Amendment of the Omani Constitution

Sultan Qaboos amended the Basic Statute of the State only once in the year 2011 as a response to the events of the Arab Spring. The amendments that were made were precise and specific, and they strengthened the powers of the Council of Oman, i.e. the Omani parliament, by enhancing its oversight powers over the legislative process and monitoring government performance.

Modernising the Constitution in 2021

Following his accession in 2020, Sultan Haitham issued a new Basic Statute of the State by Royal Decree 6/2021 which retained an extremely similar structure to the Basic Statute of the State of 1996, but made significant changes to the succession process by establishing a legal framework for the appointment of a crown prince and removing the secret will mechanism that was found in the original Basic Statute of the State.

Conclusion

The Basic Statute of the State marked a major milestone in Oman’s modern history, establishing the foundation of structured and stable governance. Since its establishment in 1996, through the amendments made in 2011, and the modernisation in 2021 it has evolved to meet the demands of the Sultanate of Oman and continues to be an essential component of the country’s development.

You can read the Basic Statute of the State in full in English free of charge on the link below:

Written by:

Sara Al-Badi

Sara is a legal intern at Decree. She has previously interned in the Public Prosecution and in private practice. She is interested in commercial and corporate law. She holds an LLB from Cardiff University.

Book Two of the Basic Statute of the State is divided into four chapters: Political Principles (article 13), Economic Principles (article 14), Social Principles (article 15), and Cultural Principles (article 16). These articles provide a comprehensive framework for governing the internal and external duties of the state, its role in ensuring welfare and justice, and its responsibility to promote education, culture, and heritage.

Article 13: Political Principles

The political foundation of the Sultanate of Oman is rooted in the preservation of sovereignty, security, and independence. This article outlines the duty of the state to safeguard its stability and uphold its statehood. Furthermore, it emphasises foreign policy grounded in mutual respect, non-interference, and compliance with international charters and treaties. Importantly, it calls for governance systems based on shura, derived from islamic sharia and omani values, while endorsing modern administrative practices that ensure justice and equality for all citizens.

Article 14: Economic Principles

This article defines the economic visions of the state. It stipulates that the State guarantees economic freedom within a framework of social justice, where public and private sectors cooperate for development. This article also prescribes that the state retains ownership of natural resources and is mandated to manage them in line with public interest and the law, that the state is meant to encourage investment, regulate savings and credit, and protect both public and private property, among other economic duties.

Article 15: Social Principles

Justice, equality, and opportunity are enshrined as pillars of society. Article 15 highlights the significance of national unity and family values while requiring the state to guarantee equality between women and men, and to provide care for children, youth, and the disabled. Social security, emergency aid, and healthcare are legal guarantees, as is the state’s role in environmental protection. Article 15 also affirms “work” as a right and an honour, and stipulates that no citizen may be forced into employment except by law under specific conditions.

Article 16: Cultural Principles

Education is identified by article 16 as a fundamental right, with objectives including the development of national identity, scientific thinking, and civic values. According to this article, primary education must be made compulsory, while higher education is to made accessible based on merit. The state promotes literacy, supports scientific research, and guarantees the independence of academic institutions.

Conclusion

Book Two of the Basic Statute does more than provide aspirational goals; it sets binding constitutional standards that define Oman’s governance model. These provisions offer a robust and interlinked framework for how the state must function, interact with its citizens, and position itself in the international community. The articles reflect a clear legal intent: to build a just, stable, and forward-looking society rooted in Omani identity and Islamic values, yet open to modern and global engagement.

You can read the Basic Statute of the State in full in English free of charge on the link below:

Written by:

Zainab Al-Lawati

Zainab is a legal intern at Decree. She has previously interned in various sectors including the government, private practice, the banking sector, and the energy sector. She is interested in commercial and corporate law. She holds an LLB from the University of Bristol.