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The General Investment Authority adopts the International Standard Industrial Classification Introduction The International Standard Industrial Classification of All Economic Activities is a United-Nations system for classifying economic data, and the International Standard Industrial Classification of All Economic Activities is used on a large scale at the national and international levels in data classification, according to the […]

Shifting some powers and jurisdictions from the Ministry of Municipal and Rural Affairs to the Ministry of Environment, Water and Agriculture On July 1, 2020G, corresponding to Dhul Al-Qada 10, 1441H, the Saudi Cabinet issued a decision endorsing switching seven powers and jurisdictions from Ministry of Municipal and Rural Affairs (MMRA) to Ministry of Environment,

Financial guardianship over minors to be lifted at the age of 18 The article stipulates that minors shall be placed under financial guardianship until they attain the age of 18, in accordance with what is considered by the jurists as a suitable age for lifting guardianship on minors. Guardianship is lifted upon ensuring adulthood and good disposition

Investment licenses activities In the renaissance and development era, there is no doubt that our beloved Kingdom is at a stage of great transformation; and as we explained in the previous articles, the Kingdom has provided many opportunities for the country’s optimal development, thus opening the foreign investment business opportunities in the country, while organizing

New Enforcement Bill introduces description of offences & penalties on the parties involved with enforcement proceedings The new Enforcement draft law has brought a wide understanding of the offences and penalties. The legislators have streamlined and specified the offences and its penalties that would apply on whoever has connection with applicant of the enforcement such

IT Crimes Why This Law has been Issued Since 07/03/1436H, the Board of Ministers has resolved laws fighting IT and e-transaction crimes. We hereby would like to define IT crimes as: – “Any act committed related to computer or internet violating stipulations of this law.” These regulations are issued to limit such crimes, assigning penalties

Claiming termination of partnership and reimbursement capitals for not sharing dividends Disregarding the court orders and failure to show up at the court hearing fixed by courts of law might be a ground to prove the right claimed against a defendant is evidentiary. We refer to a case below as an example to make readers

The Executory Instrument in the New Enforcement Bill The new Enforcement draft law has specified some articles, which are related to the executory instruments that is contained in section (3) of the draft law, which is given the name ‘executory instrument’, in which the law explained the types of such executory instruments and defined them.

Ownership, sorting and management of properties in the Kingdom of Saudi Arabia The Ministry of Housing (Ministry) based on the powers invested with it, issued the implementing regulations for the ownership, sorting and management of real estate units, after the submission of the General Authority for Real Estate in Saudi Arabia, a draft of these

Violations Foreign Investors Make The executive regulation of the foreign investment system in Article Twenty-one (46) of the Penal Code stipulates the following: (1) Differences between the Commercial Register’s data on the data contained in the investment license issued by the Authority with the specifications of the Gulf or Saudi Arabia or international accredited. In