Legalising the parent company’s documents (commercial registration, articles of association, financial statements and powers of attorney) is the first step in setting up a foreign entity in the Kingdom. Since Saudi Arabia formally joined the Hague Convention Abolishing the Requirement of Legalisation for Foreign Public Documents (the Apostille Convention), the process has become faster and
The issuance of the Investment Law by Royal Decree No. (M/19) and the entry into force of its Implementing Regulations is the biggest legislative shift in the history of Saudi Arabia’s business and investment environment. The Law formally repealed the Foreign Investment Law issued by Royal Decree No. (M/1) of 1421H and created a single
Table 1: Comprehensive comparison of the five investment entities Criterion Limited Liability Company (LLC) Simplified Joint Stock Company (SJSC) Foreign Company Branch Entrepreneur Licence (Startups) GCC Investor Track Nature of the entity Independent legal entity with limited liability Flexible entity designed for startups and venture capital Direct legal and operational extension of the parent company
Introduction With the major legislative changes stemming from Saudi Vision 2030, the consulting and professional services sector has undergone a radical overhaul led by the Professional Companies Law (Royal Decree M/17) and the regulations of the Ministry of Justice, the Saudi Council of Engineers and the Ministry of Investment, opening the Saudi market to the
Why GCC nationals enjoy a special status in Saudi Arabia Based on the provisions of the Unified Economic Agreement between the GCC States and the resolutions of the GCC Supreme Council implemented in the Kingdom: Key differences between company formation for a GCC investor and a foreign investor
Why did the Saudi Companies Law introduce the Simplified Joint Stock Company? Articles (138 – 155) of the new Saudi Companies Law were introduced to bridge the historical gap between the rigidity of the Limited Liability Company (LLC) and the complexity and requirements of the traditional Joint Stock Company (JSC). The Simplified Joint Stock Company
Introduction Human resources management in newly established companies in Saudi Arabia is governed by an interconnected digital system supervised by the Ministry of Human Resources and Social Development and the General Organization for Social Insurance. Staying compliant with this system is what allows you to obtain work visas and recruit international talent without setbacks. 1.
HR and Labour Compliance in Saudi Arabia: Qiwa, Developed Nitaqat, Mudad and GOSI Guide Read More »
Introduction Obtaining the Commercial Registration (CR) is the first milestone in setting up your company in Saudi Arabia, but it does not give you the legal right to open your doors and start actual business operations on the ground. Saudi regulations require a package of municipal and operating licences and safety certificates to ensure full
