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Excerpts from the Foreign Companies Law
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Excerpts from the Foreign Companies Law in Saudi Arabia and the purpose of its issuance.
The competent authorities in the Kingdom have made amendments to the systems and laws that govern foreign investment in the Kingdom of Saudi Arabia.For this reason, I issued the Foreign Companies Law in Saudi Arabia in order to motivate and attract investment in the Kingdom. مكتب العمل شكوى
The fact that investment has a positive role in developing the economy in the country, and that any investor who enters the country cannot do any work.
Except after obtaining a license from the General Authority for Investment that allows him to open the company in the Kingdom within specific conditions.
The Foreign Companies Law came to work to grant investors the privileges needed by investment and to facilitate the conditions that were previously imposed.
Among these facilities that the Foreign Companies Law in Saudi Arabia carried is the facilitation of registration procedures
Foreign companies in Saudi Arabia, as there have been deliberate and complex steps after what was very difficult and exhausting for the investor.
The new system of the Foreign Companies Law gave limits to the immunity enjoyed by the foreign investor.
And the powers of the General Authority for Investment in this regard, and the powers of the authority to impose and tighten penalties on anyone who violates the Commercial Investment Law.
It gave investors the right to file a grievance in the event of a commercial problem they encounter during investment.
The Foreign Companies Law sets out special provisions for the settlement of disputes that occur between foreign partners.
And setting controls for the tax imposed in the tax law for foreign investors. ايقاف خدمات البنك
These ideas are excerpts from the Foreign Companies Law, whose promulgation had a major role in increasing investment in the Kingdom.
Thus, it has achieved the purpose of its issuance and is in line with the aspirations of the Kingdom for the year 2030, as the growth of the economy of any country means its development
Thus, it will gain political power in the world, and now we will learn about the procedures for registering foreign companies in Saudi Arabia and how to establish them.
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