Saudi Arabia: Company Law Amendments Being Considered
The General Director for Systems and Companies Policies in Saudi Arabia’s Trade Ministry has announced the new companies law will allow new types of companies to be established. This will include simple joint stock companies who will have the characteristics of a joint stock company but will have flexibility in capital formation and issuing new types of shares. There will be also other types of companies. This will include two parties where one is a joint partner who will be personally responsible for their money and another who is a shareholder.