Saudi Arabia: Judicial Reforms and Regional Headquarter Requirements Announced
The Kingdom of Saudi Arabia (KSA) has recently undergone major changes in order to achieve the goals set for the Saudi Vision 2030 and in an effort to attract and increase the confidence of foreign investors in the Kingdom. Following this path of economic and legal reforms, a judicial reform has recently been announced through which KSA has announced four new laws. Furthermore, KSA plans to revamp its requirements for government tenders, requiring foreign companies dealing with government entities to have their regional headquarters in the Kingdom. In this legal briefing, we take a first look at the planned legal reforms.