Procedures for Establishing the Company in Palestine
Submit an investment application form at the Ministry of National Economy.
Submitting the company’s articles of incorporation with a copy of its bylaw.
If it is a foreign company and would like to open a subsidiary in Palestine, then it must attach the following documents:
- A certified copy of the company’s basic contract and articles of incorporation in the home country.
- A list of the members of the company’s Board of Directors.
- The names of the Palestinian people authorized to follow-up on behalf of the company.
- Payment of fees.
Also read: A Simplified Definition of Commercial Law
Documents required to register the company with the Ministry of National Economy
- Three copies of the company’s articles of incorporation.
- Hiring a private lawyer or consulting office.
- Filling out the company registration form.
- A copy of the ID card or passport.
- Obtaining approval of the company name.
Also read: The Importance of Commercial Law
Types of Companies in Palestine
General Ordinary Company
It consists of two to thirty people, and each one of them must be at least eighteen years old. Partners are responsible for the company’s debts and obligations. No partner can trade his stake in it except with the approval of all other partners. Its establishment does not require a minimum capital, making it one of the best corporate models.
Limited Ordinary Company
It consists of two types of partners:
Joint partners: who manage this company and deal with its debts.
Limited partners: who are not responsible for the management of the company, but who participate in its capital, and are obligated to pay the company’s debts only according to the amount of their shares in the company. A partner can assign his share in the company without the need for the consent of all partners.
Private Joint Stock Company
It consists of at least two people, and that the total number of partners should not exceed fifty. Each of them bears responsibility for the company’s debts to the extent of their contribution to their capital. Its capital should not be less than thirty thousand Jordanian dinars, or the equivalent thereof in US dollars.
Public Joint Stock Company
It consists of at least seven people. Its capital must not be less than one million Jordanian dinars, or the equivalent thereof, in US dollars.