المدونة

The Kingdom of Saudi Arabia is always interested in establishing regulations and rules that guarantee people their rights and also that clarify their obligations through them, whether these people are individuals or establishments. transactions

First of all, the concept of a company is that it is an agreement whereby two or more parties undertake to contribute to a project, whether by providing a share of money or work, with the aim of participating in the profit or loss that arises from this project. As for the partnership contract, it is a contract that obligates two or more parties to participate in a project. By providing a share of the money or work, and sharing the profit or loss arising from the project, the company is considered a legal person once it is formed.

There is no doubt that the new companies’ system and its executive regulations are distinguished from the previous companies’ regulations, in terms of setting and facilitating all general controls for establishing companies in Saudi Arabia, in addition to its inclusion of many types of companies that were easily established before.

During the past few days, one of the most important and most important systems that enhance the Kingdom’s economy entered into force and application, as on Thursday corresponding to 6/26/1444 AH corresponding to 1/19/2023 AD, the new companies’ system promulgated by Royal Decree No. (M / 132) on 1 12/1443 AH, it is worth talking about that the new corporate law came to enhance the regulatory environment for companies in the Kingdom

There are many important legal rules and procedures that the new Saudi corporate law left clarified to its executive regulations, and as soon as those executive regulations were announced, we wanted to highlight in this article all the legal features, procedures and rules that they included and that will be implemented from the date of entry into force of the new corporate law.

Law is considered part of the human sciences and even the most important science in those sciences, and science in itself is a set of organized knowledge, facts and concepts that have been validated in a correct scientific way.

The Kingdom of Saudi Arabia is working to lead the first centers in the investment field in the Middle East, especially among the Arab Gulf countries, and it is also working to be the main destination for investment and attracting investors.

Article Thirteen of the new Saudi Companies Law states that the partner’s share in the partnership company in Saudi Arabia may be in cash or in kind, or both. His share may not be due to his reputation or influence.

It is among the policies and strategies of the Kingdom of Saudi Arabia to reach sustainable development in accordance with its vision for the year 2030 AD, and to work keenly to improve all sectors and fields that enhance the economic growth of the Kingdom and improve and diversify per capita income sources.

The whole world is now moving to keep pace with technological changes and modern technology developments, which included all sectors and fields of daily life, and the Kingdom of Saudi Arabia is one of the Arab countries with the greatest interest in keeping pace with these modern technological developments.

Privatization is known as the transfer of government property and the services and business it provides to the private sector in whole or in part, in this case the government does not own the entity that has been privatized, and the main objective of this is to enhance the efficiency of the products or services provided.

Companies are considered one of the most important economic tools for individuals in the Kingdom of Saudi Arabia, where there was and still is interest in them and their development due to the foundations they provide for the development of the Saudi economy. One of the most important forms of investment that is frequently dealt with in the Kingdom is the establishment of companies in Saudi Arabia.