The Council of Ministers of the Kingdom of Saudi Arabia (“KSA”) recently passed a resolution to strengthen the country’s arbitration and ADR framework (the “Resolution”), demonstrating a continued commitment to a range of...more
The National Center for Non-Profit Sector (“NCNPS”) is the supervisory body of civil society organizations and private foundations. The NCNPS regulates civil society organizations and private foundations in accordance with...more
On 6 August 2024, the Council of Ministers approved amendments to the Kingdom of Saudi Arabia (“KSA”) Labor Law and its Implementing Regulations. These will come into force on 19 February 2025, 180 days after being published...more
9/13/2024
/ Compliance ,
Employee Benefits ,
Employee Training ,
Employment Contract ,
Federal Labor Laws ,
Jurisdiction ,
Maternity Leave ,
New Amendments ,
Paid Leave ,
Penalties ,
Popular ,
Probationary Period ,
Saudi Arabia ,
Wages
On August 11, 2024, the Kingdom of Saudi Arabia (the “Kingdom” or “Saudi Arabia”) issued the new Investment Law, pursuant to Royal Decree number M/19 (the “New Investment Law”), which is intended to replace the Foreign...more
On May 20, 2024, the Ministry of Human Resources and Social Development (“MHRSD”) in collaboration with the Ministry of Municipal Rural Affairs and Housing announced their goal of increasing the Saudization ratio in the...more
The launch of the Kingdom of Saudi Arabia’s (the Kingdom) Vision 2030 Program preceded the announcement of numerous ground-breaking Mega and Giga-projects throughout the country. Eight years on, recent MEED data estimates...more
8/8/2024
/ Capital Raising ,
Contractors ,
Fossil Fuel ,
Investment ,
Leaseback ,
Leases ,
Property Tax ,
Real Estate Market ,
Revenue ,
Sales ,
Saudi Arabia
On May 3, 2024, the Zakat, Tax and Customs Authority (“ZATCA”) issued amendments to the Real Estate Transaction Tax (“RETT”) Implementing Regulations. The RETT Implementing Regulations were first introduced on October 4,...more
The Government of the Kingdom of Saudi Arabia (“Kingdom”) in February 2021 announced its objective to limit governmental contracting with multinational companies (“MNCs”) that do not have a Regional Headquarter (“RHQ”) in the...more
The Civil Transactions Regulation (the “CTR”) was promulgated on 18 June 2023 and entered into force on 16 December 2023. The CTR was conceived as one of four key reforms announced in February 2021 to enhance the general...more
1/5/2024
/ Breach of Contract ,
Contract Termination ,
Contract Terms ,
Dispute Resolution ,
Force Majeure Clause ,
Good Faith ,
New Regulations ,
Penal Code ,
Personal Status Law ,
Regulatory Agenda ,
Sales ,
Saudi Arabia
On 14 April 2023, the Economic Cities and Special Zones Authority (ECZA) announced the launch of four special economic zones (SEZs) in the Kingdom of Saudi Arabia (the Kingdom) to accelerate the diversification of the...more
An otherwise viable business experiencing a cash flow crisis may seek relief under Chapter Four of the Kingdom of Saudi Arabia (“KSA”) Bankruptcy Law (“Bankruptcy Law”), a flexible statute that helps facilitate the financial...more
In conjunction with the Ministry of Justice of the Kingdom of Saudi Arabia (“KSA”), the Saudi Centre for Commercial Arbitration (“SCCA”) conducted a study into KSA legislation and confirmed that parties to Saudi arbitration...more
On 15 April 2020, the Cabinet of the Kingdom of Saudi Arabia (“Saudi Arabia”) issued a resolution approving the Pharmaceutical and Herbal Establishments and Substances Regulation (the New Pharmaceutical Law), providing a...more
Welcome to the Spring 2018 issue of measure, King & Spalding’s Middle East periodic newsletter. Following a host of legal developments in the region over recent months, we look at the following in this issue:
..Noting that...more
A number of food and beverage groups (particularly restaurant groups) access the Gulf Cooperation Council (GCC) markets through franchising arrangements. With a young and fast-growing population (many of whom spent time...more
Background -
On 21 December 2016, the Capital Market Authority of Saudi Arabia (the CMA) approved the Parallel Market Listing Rules (the Rules), thereby establishing the Parallel Market, an alternative market to the Main...more
Brexit – Impact on Middle Eastern Issuers -
Whilst the precise legal and regulatory impact that the UK’s recent decision to leave the European Union (EU), dubbed Brexit, will have on the corporate finance market will...more
8/29/2016
/ Capital Markets ,
Capital Markets Act (CMA) ,
EU ,
EU Passport ,
Member State ,
Middle East ,
Private Equity ,
Procurement Guidelines ,
Public Private Partnerships (P3s) ,
Referendums ,
Saudi Arabia ,
Securitization ,
Special Purpose Entities ,
Sukuk ,
UK ,
UK Brexit
Parties purchasing Middle East-based companies operating in the retail and wholesale food and beverage sector with a focus on companies in Saudi Arabia and the United Arab Emirates (“UAE”) are facing some common issues....more
7/12/2016
/ Beverage Manufacturers ,
Change in Control ,
Commercial Leases ,
Competition Authorities ,
Deeds ,
Food Labeling ,
Food Manufacturers ,
Franchise Agreements ,
Fronting Policies ,
Gulf Cooperation Council (GCC) ,
Middle East ,
Notice Requirements ,
Sales & Distribution Agreements ,
Saudi Arabia ,
SFDA ,
Target Company ,
Title Examination ,
United Arab Emirates (UAE) ,
Wholesale