RAMALLAH, Monday, July 25, 2022 (WAFA) - The Ministry of National Economy said today that the number of companies (with limited liability and owned by one person) registered since the new Companies Law came into effect in April amounted to 29 companies with a capital of 865,000 Jordanian dinars.
The Director General of Companies Registration in the Ministry, Liana al-Atrash, indicated in a statement that the new companies law allows the registration of single-person companies without the need for a partner, which makes it a limited liability company or a limited private shareholding company.
Atrash emphasized that this type of company, with limited liability, serves owners of small and entrepreneurial projects and home-based businesses and does not require a minimum capital, which facilitates their economic activity and contributes to the process of transformation in the Palestinian market from the unorganized sector to the organized one.
According to the ministry, the new companies were in the technology industries, consultancy services, and consumer industries.
It is noteworthy that the decision by Law No. 42 regarding companies was published in the Official Gazette in late December 2021 and went into effect in early April.
M.K.
