ANNOUNCEMENT 28 Mar 2014In March 2014, the government of Saudi Arabia announced changed rules for foreign investors.
NUMBER OF INTERVENTIONS
With the Resolution no. 2/774 published 28 March 2014 in Um al-Qura the official gazette of Saudi Arabia, the amended implementing regulations for foreign investement has been passed encompassing 22 Articles. This regulation is replacing the implementing regulations dating back to 2002 (Decree 20/1)
Two of the most important changes are the following:
1. the foreign investor may obtain more than one license in the same activity,
2. the legal form of the foreign investment is limited to a LLC, joint stock company and a branch of foreign companies.