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Dec 16, 2015

New Saudi Companies Law Approved

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2015 has seen a number of interesting legal developments in Saudi Arabia, particularly from a foreign investment perspective. As well as the approval of the new Companies Law 1437H/2015G (the “NCL”), which will be of interest to local enterprises and foreign investors alike, this year has seen the enactment of rules that permit qualifying foreign financial institutions to trade in shares listed on the Tadawul and the announcement that the 25% local ownership requirement for retail and wholesale businesses wishing to sell, distribute and market their products directly in the Kingdom will be removed.

View full memo, New Saudi Companies Law Approved

Authors and Contributors

Marwan Elaraby

Partner

Capital Markets

+971 2 410 8123

+971 2 410 8123

Abu Dhabi

Dr. Sultan Almasoud

Partner

Mergers & Acquisitions

+966 11 213 7801

+966 11 213 7801

Riyadh

Sanjarbek Abdukhalilov

Partner

Mergers & Acquisitions

+966 11 213 7802

+966 11 213 7802

Riyadh

Iain Elder

Partner

Project Development & Finance

+44 20 7655 5125

+44 20 7655 5125

London

Brendan Hundt

Counsel

Project Development & Finance

+966 11 213 7805

+966 11 213 7805

Riyadh