The client memorandum summarizes new rules issued by the U.K. regulator to create a new premium listing category for “sovereign controlled commercial companies” (SCCs). This new category will be available for listings of SCCs...more
Since the introduction by the Capital Market Authority (the “CMA”) of the Kingdom of Saudi Arabia (the “Kingdom”) of the Merger and Acquisition Regulations approved by the Board of the CMA pursuant to its Resolution No....more
The Kingdom of Saudi Arabia is a nation with a vast and growing population of over 30 million people and significant requirements for soft and hard infrastructure. Historically, the responsibility for procuring this...more
Saudi Vision 2030 and the National Transformation Program 2020 are built upon the encouragement of private sector investment in sectors that have been predominantly funded and serviced by the Government in the past. Reform of...more
Knowing which corporate vehicle to use is a key concern in any commercial enterprise. This article will summarise the different types of corporate entity used within the Kingdom of Saudi Arabia and the key differences between...more
Based on a variety of export-oriented industries including oil and gas, metals and mining, logistics, agrochemicals and food and beverages, the Kingdom of Saudi Arabia has the largest industrial output in the MENA region....more
Understanding employment law in the Kingdom of Saudi Arabia is important for any business operating in, or seeking to enter, the Saudi market. The legal regime regulating employment in the Kingdom may be seen as relatively...more
This year has witnessed remarkable legal developments in the capital markets landscape of the Kingdom of Saudi Arabia. In particular, the Capital Market Authority of the Kingdom (“CMA”) approved the amended Rules for...more
The Kingdom of Saudi Arabia has the largest information communication and technology market in the Middle East by both capital volume and spending. It is dominated by the Saudi Telecom Company (“STC”), Mobily and Zain,...more
In 2012, the Kingdom of Saudi Arabia introduced a new Arbitration Law (the “Arbitration Law”) which replaced the previous Arbitration Law of 1983. The Arbitration Law is largely based on the 1985 UNCITRAL Model Law on...more
The Kingdom of Saudi Arabia is widely recognised as having the largest and fastest growing population in the Gulf Cooperation Council (the “GCC”), with over half the population under 40. Until 2014, all Saudi nationals were...more
As a result of the new economic realities brought about by reduced global oil prices and the resultant reduction in the oil export revenues of the Kingdom of Saudi Arabia, for so long the country’s economic lifeblood, there...more
This article sets out a brief overview of the legal system in the Kingdom of Saudi Arabia and should be treated only as a general guide and not as legal advice.
...more
As the third largest recipient of foreign direct investment in the region, not to mention its standing as the region’s largest economy, the Kingdom of Saudi Arabia is of significant interest to foreign investors, particularly...more
10/2/2016
/ Corporate Taxes ,
Exit Strategies ,
Foreign Corporations ,
Foreign Investment ,
International Labor Laws ,
Joint Stock Companies ,
Licensing Rules ,
Limited Liability Company (LLC) ,
MOCI ,
Popular ,
SAGIA ,
Saudi Arabia
Sector Profile -
Covering two million square km, the Kingdom of Saudi Arabia is the largest country by landmass in the Middle East and the 13th largest in the world. The Kingdom’s geology gives it an abundance of natural...more
Sector Profile -
The Basic Law of Saudi Arabia (Royal Decree No. A/90 dated 27/8/1412 H (1 March 1992)) vests all of the Kingdom of Saudi Arabia’s oil and gas wealth in the Government. The Ministry of Energy, Industry...more
On 6 June 2016, the “National Transformation Program 2020” was approved by the Saudi Cabinet. This caps a frenetic few months of activity in the Kingdom that began with the approval of “Saudi Vision 2030” at the end of April,...more
This note provides a brief overview of Abu Dhabi Global Market’s new financial regulatory framework. This framework was established in 2015, following the publication of the ADGM’s Financial Services and Markets Regulations...more
Although the United States, the European Union, and the United Nations lifted a number of sanctions targeting Iran on January 16, 2016 (“Implementation Day”) in accordance with the terms of the recent Iran nuclear deal, the...more
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...more
This memorandum provides a brief overview of certain key areas of the Commercial Licensing Regulations 2015 published by Abu Dhabi Global Market on 14 June 2015. The Commercial Licensing Regulations establish the framework...more
This memorandum provides a brief overview of the Companies Regulations 2015 published by Abu Dhabi Global Market on 14 June 2015. The Companies Regulations set out the framework for companies to establish themselves in ADGM....more
English common law as it stands from time to time will directly apply in, and form part of the law of, Abu Dhabi Global Market (“ADGM”). Other common law systems’ case law can also be used as a persuasive and useful source of...more
Although US and EU sanctions targeting Iran are not likely to be lifted before early 2016, there are a number of issues which US and EU-based financial institutions should be aware of in preparation for sanctions relief as a...more
9/28/2015
/ Banking Sector ,
EU ,
Financial Institutions ,
Implementation Day ,
International Atomic Energy Agency ,
Iran ,
Iran Sanctions ,
Joint Comprehensive Plan of Action (JCPOA) ,
Office of Foreign Assets Control (OFAC) ,
P5+1 Nations ,
SDN List
This memorandum reflects the provisions of applicable and publicly available United Arab Emirates company law as of July 2015 and our understanding of both how that law is applied and the current practices and procedures of...more