المدونة

That, as we indicated previously, the shares of the joint-stock company in Saudi Arabia are the result of dividing its capital into negotiable shares, as indicated by Article Fifty-Eighth of the new Saudi Companies Law, as well as Article Sixty of the same Law.

The Kingdom of Saudi Arabia has not devoted its efforts to profitable fields only, such as trade, investment, etc., but has also been keen to support and develop non-profit fields on its soil.

The non-profit sector in the Kingdom of Saudi Arabia is one of the most essential elements in the development of Saudi society. It should be noted that the non-profit sector in the Kingdom consists primarily of non-profit establishments and legal entities that work to achieve social goals by providing services and products, without One of its purposes is to obtain any profits

The shareholders’ assemblies of the joint-stock company in Saudi Arabia, according to the new corporate law and its implementing regulations, are of two types, general assemblies and special assemblies. There are also two types of general assemblies, the ordinary general assembly and the extraordinary general assembly.

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.

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.

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.

Joint-stock companies in the Kingdom of Saudi Arabia are among the most important economic and commercial entities that have the ability to enable investors to meet their needs by facilitating their investment in major projects, whether commercial, industrial or agricultural in Saudi Arabia.

Companies in the Kingdom of Saudi Arabia are considered one of the most important pillars supporting the national economy, as they are the appropriate framework for establishing investment projects in Saudi Arabia. Companies, which is the new corporate law issued by a decision of the Saudi Council of Ministers No. 678 dated 11/29/1443 AH