Ramallah - “Jerusalem” dot com - The Ministry of National Economy said today, Monday, that the number of companies (with limited liability and owned by one person) registered since the new Companies Law entered into force last April (2022), has reached 29 companies with a capital of 865 thousand Jordanian dinars.

The Director General of Companies Registration at the Ministry, Liana Al-Atrash, stated, in a statement, that the new companies law allows the registration of one-person companies without the need for another partner, so that they are a limited liability company or a limited private shareholding.

Al-Atrash emphasized that this type of company (with limited liability) serves the owners of small and entrepreneurial projects and home businesses and does not require a minimum amount of capital, which facilitates them to carry out their economic activities and contributes to the process of transformation in the Palestinian market from the unregulated sector to the organized one.

According to the ministry, the companies' fields of work were concentrated in the sectors of technological industries and consulting services, in addition to consumer industries.

It is noteworthy that Decree Law No. (42) regarding companies was published in the Official Gazette in late December 2021 and entered into force in early April.