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Proposed Amendments to Jordanian Company Law No. 22

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The Company Law No. 22 for the year 1997 is going to witness some major amendments to its articles.

The objective behind the amendments is to enhance the business climate in Jordan and to facilitate the registration procedures for entrepreneurs.

One of the main expected changes to Law No 22 is to reduce the mandatory limited liability company capital to be approximately 3,000JD (US$4,235) rather than the current capital which is 30,000JD (US$42,349). According to the Ministry of Trade and Industry, this will help to attract more individual initiatives from both the Jordanian and non-Jordanian citizens to build their own business in the Jordanian markets.

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The Company Law No. 22 for the year 1997 is going to witness some major amendments to its articles. The objective behind the amendments is to enhance the business climate in Jordan and to facilitate the registration procedures for entrepreneurs.
Read more...