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Kingdom of Saudi Arabia: New Anti-Commercial Concealment Law Introduction In August 2020, a new Anti-Commercial Concealment Law was introduced by Saudi Arabia’s Council of Ministers, which will be effective on the last week of January 2021. The law is introduced for the purpose of eliminating the shadow economy or an…
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Guide on Doing business in the Kingdom of Saudi Arabia- Part II Tax XII. What contributions are made towards social security by the employee and the employer during the employment relationship? Is there an Income Tax regulation in the KSA? There are no income taxes impositions for the employees; however,…
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Doing Business in the Kingdom of Saudi Arabia- Part I What is the legal system in the Kingdom of Saudi Arabia (KSA)? The legal system in the Kingdom is primarily based on: Civil law, heavily relying on Sharia law and Islamic teachings on matters that are not codified under the…
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Saudi Arabia: New Mining Investment Law Introduction The Middle East has primarily always focused its attention on revenue generated from the oil and gas industry. However, recently these countries are venturing out and exploring other sectors in keeping with their aim of economic diversification. Due to their concentration on oil…
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Artificial Intelligence & The Criminal Justice System Introduction As Stephen Hawking once said, “Artificial Intelligence is either the best or the worst thing to happen to humanity.” The fact that the system is constantly evolving and learning from our routine behavior allows it to adapt and become a sophisticated technology…
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Mortgage Agreements in the Kingdom of Saudi Arabia As per the New Commercial Mortgages Law promulgated in the Kingdom of Saudi Arabia on 24 April 2018, the mortgage arrangement is anchored in a fixed debt that is promised to be amortized, or an item guaranteed under the debt or outstanding…
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The New Professional Companies Law of Saudi Arabia The New Professional Companies Law (PCL) that has been enforced on 26 March 2020 has successfully replaced the former 1991 Professional Companies Law in the Kingdom of Saudi Arabia, and all regulations/provisions that are in contradiction to the new Professional Companies Law shall be deemed…
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Regulations and Requirements for setting up a Company through SAGIA It was challenging to set up business in Saudi Arabia until 2018 brought a new era by bringing about many changes to the rules and regulations of the country making it easier for people to set up their businesses. The…
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Initial Public Offering - Saudi Arabia Introduction In the early 1930s, capital markets were given a platform in Saudi Arabia but regulations were put in place only post 1980s through the Ministerial Committee, Tadawul and the Capital Market Authority (CMA). These were established to ensure fairness and efficiency in the…
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Parallel Imports in Middle East and India Introduction Parallel Imports The term parallel import denotes importation of goods legitimately acquired from the owner of the goods subsequently sold in an unauthorized manner through unauthorized trade channels. These goods may also be referred to as grey market goods, since, despite being…
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E- Commerce Law in Saudi Arabia Introduction Due to the advance of internet across the globe and in the age of technology, e-commerce has found unprecedented support and flourished greatly during the past decade bringing about a major change in the retail industry, especially during these trying times. Most businesses…
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Copyright Registration in the Middle East Admittedly, the Middle East has something of a "Wild West" reputation, when it comes to some business behaviors. One of the most protuberant of these is the Middle Eastern perception of copying someone as a form of flattery, rather than as theft. In this…
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Extradition Treaty of UAE In International Law, extradition is when one state (Requesting state) requests another state (Requested state), to effect the return of a person for trial for a crime punishable under the Requesting state's laws and committed outside the Requested state (state of refuge). The extraditable person could…
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Franchising in Kingdom of Saudi Arabia Cross border transactions continue to evolve, and businesses within the Middle East continue to witness substantial growth. Kingdom of Saudi Arabia (KSA) continues to prosper due to foreign investment in addition to its oil revenue business. The business of franchising has helped all kinds…
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