Ammon News - The Companies Control Department has announced a five-phase plan to delete company records beginning Sunday, December 15, for businesses that have failed to rectify their status.

In a statement to the Jordan News Agency (Petra), Companies Controller General Wael Al-Armouti said the first phase will run from Sunday, December 15, until the end of the year.

This phase will target companies that have neither rectified their status nor requested extensions, and were suspended between 2014 and 2018.

The second phase will commence at the end of the first quarter of 2025, removing records of companies registered before 2000 that have exhausted all permitted deadlines.

The third phase will begin at the end of the second quarter, targeting companies registered before 2010, while the fourth phase will start at the end of the third quarter, focusing on companies registered before 2015.

The fifth and final phase will begin at the end of next year, removing all remaining non-compliant company records.

Al-Armouti emphasized that these measures aim to provide companies and partners maximum time to regularize their status if they can prove active operations and comply with legal requirements, thereby strengthening their legal and financial standing.

He highlighted the importance of the department's oversight measures, which align with the Companies Law amendments implemented in November 2023.

These changes support Jordan's Economic Modernization Vision, aimed at improving the business and investment environment and enhancing the kingdom's international ranking, particularly in areas of business initiation, beneficial ownership registry, anti-money laundering, and counter-terrorism financing.

The department has issued warnings to non-compliant companies and provided them with the necessary legal grace period to rectify their status, taking into consideration their financial positions and legal obligations.

Al-Armouti stressed that this initiative ensures companies' adherence to governance principles, including legal compliance, financial reporting, and beneficial ownership disclosure, reinforcing Jordan's commitment to its action plan against money laundering and terrorism financing. Petra