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ARTICLE · 02 DECEMBER 2015

Saudi Arabia Update - November 2015

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Earlier this year, the Council of Ministers and the Shoura Council approved the adoption of a new Companies Law that would completely replace the existing Regulations for Companies.

Saudi ArabiaCorporate/Commercial Law
Amgad Husein
Amgad Husein
Anas Akel
Anas Akel
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Legal Developments

Announcement of New Companies Law

The Regulations for Companies, enacted by Royal Decree no. M/6 dated 22/3/1385H. corresponding to 22/7/1965G., is the main source of codified legislation governing the establishment, operation and liquidation of corporate vehicles under Saudi Arabian law. 

Enactment and effective date

Earlier this year, the Council of Ministers and the Shoura Council approved the adoption of a new Companies Law that would completely replace the existing Regulations for Companies.

This month, the Saudi Arabian authorities announced that the new Companies Law would soon be adopted pursuant to a Royal Decree to be issued by the Custodian of the Two Holy Mosques, King Salman.

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