Plain-language explanation
Company types
Among the main ones: general partnership, limited partnership, limited liability company, private shareholding company and public shareholding company.
Registration
Companies are registered with the Companies Control Department, and the register is updated after any change in partners, capital or management.
Financial statements
- The company prepares annual financial statements, audited by a licensed auditor.
- They are presented to the general assembly for approval, then filed with the Companies Control Department.
General assembly
The general assembly meets every year to discuss the management report and financial statements, elect management and appoint the auditor, depending on the company type.
This explanation is for general awareness and does not replace the official text or professional advice.