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Question by santha k: what is the difference between SAOG and SAOC in oman companies and its expansion?

Best answer:

Answer by lilly
SAOC and SAOG are two types of joint stock companies with Government’s shares involved.

Any joint stock company is formed by three or more individual or entities, whose liability is limited to the nominal value of their shares in the company’s capital. If minimum 40 % of a company’s shares are issued for public subscription it is considered as a general joint stock company (SAOG). The minimum capital required in RO 2 million ( US $ 5.2 million) ; Otherwise it is considered as closed joint stock company (SAOC) and the minimum capital required is RO 500,000 ( US $ 1.3 million)

The other forms of business entities in Oman are limited liability company, holding company and general partnerships, formed by two or more individuals or entities, limited partnerships, which is formed by one or more general partners and sole proprietorships.

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