THE LEGAL FRAMEWORK FOR PROJECT IMPLEMENTATION IN SAUDI ARABIA
|
|
- Colleen Barker
- 7 years ago
- Views:
Transcription
1 THE LEGAL FRAMEWORK FOR PROJECT IMPLEMENTATION IN SAUDI ARABIA Dr. Bader Al-Busaies
2 CONTENTS: 1- Country overview 2- Economy overview 3- Saudi Arabia Germany trade relations 4- The Energy Sector in Saudi Arabia 5- Renewable Energy resources 6- Legal framework for project implementation in Saudi Arabia
3 1- COUNTRY OVERVIEW
4 COUNTRY OVERVIEW Capital & the Largest City: Riyadh Official Language: Arabic Total Area: 2,149,690 km² Total population in 2014: 30,770,375 Population growth rate: 2.55% Population density 2014: 15.3 Currency: Saudi Riyal (SR) (SAR) GDP growth at constant prices 2014 :3.59% Per capita GDP at current prices in 2014 (SAR): 91,703
5 2- ECONOMY OVERVIEW
6 WHY SAUDI ARABIA? Being one of the world s Top 25 most competitive economies makes Saudi Arabia the perfect investment opportunity. Saudi Arabia is ranked 3rd in the world for fiscal freedom and it is the 3rd most rewarding tax system in the world. One of the world s 20 largest economies (19th ) and the largest economy in the MENA region. One of the world s fastest growing countries: achieving 3.6% growth rate in 2014 Represents 38% of total Arab GDP. It has18% of world's oil reserves. 49th out of 189 countries for the overall ease of doing business globally. The largest recipient of Foreign Direct Investment in the Arab world.
7 DYNAMIC AND ROBUST ECONOMY - The performance of Saudi Arabia and MENA s economies have exceeded world growth. - Meanwhile, Saudi s non-oil sector has delivered accelerating growth rates as the economy diversifies.
8 ECONOMY OVERVIEW
9 INVESTMENT CLIMATE The Saudi Riyal is one of the world s most stable currencies, with no critical changes in its exchange rates during the last three decades. Saudi Arabia permits transferring of capital and profit abroad. Moreover, Saudi Arabia has low inflation rates and pursues to conclude mutual agreements with a number of countries in regards of promoting and protecting investment as well as preventing double taxation.
10 FOREIGN INVESTMENT Saudi Arabia s rapid improvements have made the country an increasingly attractive destination for investment. The World Investment Report 2013 measured Saudi Arabia s FDI inflows to be the 33rd largest in the world and the 3rd largest in the MENA region.
11 ECONOMIC INDICATORS Private sector's contribution to GDP at constant prices for % Proportion of private sector growth for 2014 at constant prices 5.70% Proportion of non-oil exports to imports % Growth of exports of non-oil goods for % Growth of imports of goods for % Exports contribution to GDP for 2014 at current prices 48.32% The cost-of-living index Change in the cost-of-living index (inflation) for % Unemployment Rate ( > 15 years) %
12 3- SAUDI ARABIA GERMANY TRADE RELATIONS
13 TRADE BETWEEN GERMAN AND SAUDI ARABIA IN million SR 44,812 million SR - The trade volume between Saudi Arabia and Germany is growing continuously. Germany is on the third place after USA and China accounting to 7.1 % of Saudi Arabian imports in Moreover, The Saudi Arabian exports to Germany is increasing reaching 1570 million Riyals in 2013 in comparison to 952 million Riyals in 2010 achieving a high increase amounting to 65%.
14 SAUDI EXPORTS & IMPORTS TO GERMANY ( ) Value : MSR Exports Imports , , , , , , , , , , , ,0 952, , , ,
15 GERMANY EXPORTS TO SAUDI ARABIA BY CHAPTER 2014 Machinery, nuclear reactors, boilers, etc Vehicles other than railway, tramway 6% 4% 3% 3% 28% Electrical, electronic equipment 7% Articles of iron or steel 7% 10% 11% 21% Optical, photo, technical, medical, etc apparatus Pharmaceutical products Tobacco and manufactured tobacco substitutes Aluminium and articles thereof
16 4- THE ENERGY SECTOR IN SAUDI ARABIA
17 ENERGY IN THE KSA Energy is the KSA most prominent sector poised for unprecedented growth, diversification, and profitability. Heavy private sector participation, with US$79 billion in private-sector energy projects under development. Private investment is expected to grow even further as the economy expands and the Saudi business environment continues to improve.
18 ENERGY IN THE KSA Activity in the world s premier energy economy will develop rapidly as large-scale capital spending is applied to building new capacity and expansion of existing facilities. The Arab Oil and Gas directory forecasts major new energy investments in KSA, including: - Petrochemical Projects: US$90 billion - Power Generation: US$90 billion - Water Desalination Plans: US$88 billion - Natural Gas-Related Projects: US$50 billion Refining projects by private investors are also under consideration. In addition to direct energy-related investments the sector will be supported by an estimated US$140 billion in general infrastructure outlays including the Economic Cities and transport links.
19 INVESTMENT OPPORTUNITIES IN THE ENERGY SECTOR Saudi Arabia offers investment opportunities across the value chain in a number of energy and energy-related subsectors. These include: - Crude Oil Refining - Petrochemicals - Fertilizers - Power and Water - Mining and Metals Processing
20 POWER GENERATION (MARKET VOLUME) Figure 2: Saudi Arabia power generation industry volume: TWh, SOURCE: MARKETLINE M A R K E T L I N E The Saudi Arabian power generation industry grew by 3.1% in 2013 to reach a volume of TWh. The compound annual growth rate of the industry in the period was 5.3%.
21 POWER GENERATION (MARKET VALUE FORECAST) Figure 4: Saudi Arabia power generation industry value forecast: $ billion, SOURCE: MARKETLINE M A R K E T L I N E In 2018, the Saudi Arabian power generation industry is forecasted to have a value of $35.1 billion, with an increase of 31.5% since The compound annual growth rate of the industry in the period is predicted to be 5.6%.
22 POWER GENERATION (MARKET VOLUME FORECAST) Figure 5: Saudi Arabia power generation industry volume forecast: TWh, SOURCE: MARKETLINE M A R K E T L I N E In 2018, the Saudi Arabian power generation industry is forecast to have a volume of TWh, an increase of 15.5% since The compound annual growth rate of the industry in the period is predicted to be 2.9%.
23 POWER & WATER DEMAND
24 POWER & WATER SUPPLY
25 5- RENEWABLE ENERGY
26 SOLAR & WIND POWER
27 ORGANIZATIONS FOCUSING ON ALTERNATIVES RENEWABLE ENERGY
28 6- THE LEGAL FRAMEWORK FOR PROJECT IMPLEMENTATION
29 OVERVIEW OF SAUDI LEGAL FRAMEWORK Saudi laws are based on Islamic Law, or Sharia. Civil, criminal and contract laws based on general principles of Islamic law. Examples, Contracting parties must maintain principles of fairness and equity in their dealings. Contracting parties are free to negotiate the terms of their contracts unless those terms are prohibited and/or relate to activities that are prohibited under the law. Recently the Saudi Arabian government enacted a new judiciary law as a reform for the judiciary system provide twolevel appeals process. All Saudi courts don t charges any fees for their services.
30 LATEST DEVELOPMENTS IN DISPUTE RESOLUTION In April 2012, the Kingdom of Saudi Arabia (KSA) enacted a new Arbitration Law which was hailed as a boon for investors and a major step forward for commerce. The 2012 Arbitration Law significantly improved the legal landscape for arbitration in KSA, which had previously been governed by an Arbitration Law enacted in Courts have recognized parties rights under the 2012 Law to adopt the rules of external arbitration centers as their agreed procedures. in a recent case concerning an arbitration governed by the International Chamber of Commerce (ICC) Rules, the Dammam Court of Appeal required the claimant to file its Request for Arbitration with the ICC as the first step, and therefore declined the claimant s application for the court to appoint the arbitrators.
31 STRUCTURES FOR DOING BUSINESS IN KSA The Foreign Investment Law issued by Royal Decree in 2000 regulates the procedures and process for investing in KSA. Foreign ownership (of 100%) is permitted unless the proposed activity appears on a negative list (which restricts any foreign ownership). In general foreign investment is permitted in most manufacturing, technical services and trading activities. Once established it can then conduct activities in accordance with its license and permits which are obtained from the Saudi Arabian General Investment Authority (SAGIA), the Saudi Ministry of Commerce and Industry and other government departments.
32 STRUCTURES FOR DOING BUSINESS IN THE KSA Set out below are the main establishment alternatives that are typically available to a foreign owned entity: Limited liability company (LLC) Branch Office Temporary Commercial Registration Scientific and technical office Joint stock company (JSC)
33 COMMERCIAL AGENCY The Commercial Agencies Law as enacted by Royal Decree No. M/5 dated 11/06/1389H (corresponding to 25/08/1969) and its Implementing Regulations (the Agency Law) establishes a comprehensive framework that governs the relationship between the KSA Agent and foreign principal. Under Saudi Arabian Commercial Agencies 'Act, the agent is obliged to register the agency agreement at the Agencies Agreements Department at the Ministry of Commerce. During the term of the agency agreement and until the first anniversary of its termination or until the appointment of a new agent (whichever is the earlier) the KSA Agent must provide consumers with necessary spare parts and maintenance at reasonable prices, available within 30 days of request; Severe penalties may be imposed for violating certain provisions of the Agency Law, including a fine of a sum not less than 5,000 Riyals and not more than 50,000 Riyals. Payment of a fine does not prevent an aggrieved party from initiating further legal action which could result in e.g. compensation being paid for damages caused, liquidation of the company, the deportation of foreign personnel and/or prohibition against future commercial activities in the KSA.
34 WTO ACCESSION Saudi Arabia became the 149th member of the WTO on December 11, Without prejudice to the list of activities excluded from Foreign Investment (Negative List), SAGIA shall issue a License for Foreign Investment in any investment activity in the Kingdom, whether permanent or temporary, in accordance with the Act, Regulations and decisions of the Board of Directors. The Board of Directors shall periodically review the list of activities excluded from Foreign Investment (Negative List) and submit its recommendations to the Council for endorsement. Minimum investment thresholds for Saudis and non-saudis are identical. except for the minimum investment thresholds as preconditions to obtaining foreign investment licenses in the following sectors: (i) SR25m ($6.75m) for agricultural projects and (ii) SR30m ($8.1m) for real estate projects.
35 GRANTING A LICENSE 1. The investment activity to be licensed should not be in the Negative List of excluded activities from Foreign Investment. 2. The product technical specifications and production processes should comply with the Saudi, Gulf or international standards and specifications. 3. The License Applicant should not have been convicted in the past for substantial violations of the provisions of the Act. 4. The License Applicant should not have been convicted in the past of any violation including (but not limited to) financial or commercial violations whether inside or outside the Kingdom. 5. The License Applicant should comply with the terms, conditions, representations and undertakings attached to the License application form. 6. Achieving the investment goals and the objectives of SAGIA.
36 SELECTING A LICENSE Each company must choose the appropriate license for their business activity. Examples are as follows: Service: restaurants, maintenance. Industrial: manufacturing. Trading: imports and exports. Real Estate: land development. Agriculture: farms, orchards, livestock.
37 MINIMUM CAPITAL REQUIREMENTS SAGIA requires foreign investors to possess a minimum amount of capital. The minimum capital requirements for investing in Saudi Arabia are as follows: Type of Investment Individual Establishment LLC Branch Technical & Scientific Office Service SR 500,000 SR 500,000 SR 500,000 SR 500,000 Industrial SR 1,000,000 SR 1,000,000 SR 1,000,000 No requirement Trading N/A SR 20,000,000 Saudi Partner required, maximum foreign ownership 75% N/A No requirement Real Estate Minimum project value SR 30,000,000 Minimum project value SR 30,000,000 Minimum project value SR 30,000,000 N/A Agriculture SR 25,000,000 SR 25,000,000 SR 25,000,000 N/A
38 REGULATORY INCENTIVES The establishment of the Saudi Arabian General Investment Authority (SAGIA), to be the responsible authority for issuing investment licenses to foreign investors and coordinating with other related governmental bodies for the approval. Foreign investors will benefit from incentives and guarantees that local and national investors receive according to laws and regulations. Owning Direct Property for the licensed company including residence and employees allocations. Permissions of transferring capital and profit abroad. Flexibility of transferring/allocation of companies shares between shareholders according to regulations. The licensed company is sponsoring the investor and its employees (non- Saudis). The availability and eligibility to apply for loans from the Saudi Industrial Development Fund.
39 FINANCIAL INCENTIVES Benefit from corporative/collateral and massive agreements regarding taxation and investment with other countries. No personal income taxes. Taxes are 20% from total profits on companies. The ability to transfer losses for future years in regard to taxes. The Human Resources Development Fund to support activities related to qualifying, training and recruitment of Saudi labor. Competitive industrial utility rates for water, power and land. Large research and development endowments at King Abdullah University for Science and Technology (KAUST) and King Abdul Aziz City of Science and Technology (KACST).
40 THANK YOU Headquarters Branch office Contact US Address P.O.Box: 4732 Al Khobar31952, Al Salah Tower, Level 3 P.O. Box Riyadh 11524, Al Faisaliah Tower, Level 18 Telephone ( ) ( ) ( ) ( ) Mobile ( +966) Website With Co-operation Partners and Correspondents in WASHINGTON D.C. LONDON BERLIN GENEVA HAMBURG SINGAPORE TOKYO DUBAI
English Translation of Finance Companies Control Law
English Translation of Finance Companies Control Law Article 1 Introductory Chapter Definitions The following terms and phrases wherever mentioned in this Law shall have the meanings assigned thereto unless
More informationOverview of Saudi Domestic and Foreign Corporate Laws
Overview of Saudi Domestic and Foreign Corporate Laws LEGAL FRAMEWORK: Saudi law is based on Islamic Law, or Sharia. In Islamic law, there are four main schools of jurisprudence: Hanbali. Hanafi. Shafai
More informationCUBAN FOREIGN INVESTMENT LEGISLATION
CUBAN FOREIGN INVESTMENT LEGISLATION Decree Law 50 of 1982 ( Decree Law 50 ) was Cuba s first foreign investment act authorizing the formation of international joint-ventures with foreign investors. In
More informationIRAQ. 2014 Exploring Business. STA Law Firm. www.ama.ae
U IRAQ 2014 Exploring Business STA Law Firm www.ama.ae At STA, a business set up does not only mean a company incorporation process. It means the start of new relationship with a client. Our team of lawyers
More informationEntering the Saudi Arabian Market: An Overview of Key Legal Issues. Stephen Matthews September 2014
Entering the Saudi Arabian Market: An Overview of Key Legal Issues Stephen Matthews September 2014 2009 Entering the Saudi Arabian Market 1! 2 Principal Types of Market Entry--! Sales from Abroad! Goods!
More informationInsurance Supervision Department. The Saudi Insurance Market Survey Report
Insurance Supervision Department The Saudi Insurance Market Survey Report Table of Contents Introduction...3 Overall Insurance Market Performance Gross Written Premiums Overall.. 5 Insurance Penetration
More informationIn practice, foreigners usually establish LLCs. Partnerships and joint stock companies are only established in exceptional cases.
Company Laws The Companies Law is the principal body of legislation governing companies. Saudi company law recognizes eight forms of companies. The most common forms are limited liability companies (LLC),
More informationKingdom of Saudi Arabia Capital Market Authority. Investing in the Stock Market
Kingdom of Saudi Arabia Capital Market Authority Investing in the Stock Market Background Saudi joint-stock companies started their business in the mid 1930s when the Arab Automobile Company was established
More informationSo You Want to Do Business with the Saudi Government
So You Want to Do Business with the Saudi Government Doing business with the Saudi government can be as cumbersome and time consuming as dealing with any national government. Moreover, doing business with
More informationIN ASSOCIATION WITH BAKER & MCKENZIE LIMITED. An Outline of Various Forms of Doing Business in Saudi Arabia
IN ASSOCIATION WITH BAKER & MCKENZIE LIMITED An Outline of Various Forms of Doing Business in Saudi Arabia April 2012 Table of Contents I. Limited Liability Company... 1 1 General... 1 2 Features of a
More informationKingdom of Saudi Arabia Capital Market Authority. Mutual Funds
Kingdom of Saudi Arabia Capital Market Authority Mutual Funds Introduction Mutual Funds are investments pools that allow those who don t have the ability to manage their investments directly the opportunity
More informationMouwasat Medical Services Company - Mouwasat
Recommendation Overweight Fair Value (SR) 92.00 Price as of 2 nd of March 2014 (SR) 81.75 Expected return 12.5% Company data Tadawul symbol 4002.SE 52- week high (SR) 94.00 52-week low(sr) 52.25 YTD change
More informationTOTAL FDI Inflow to KSA (Millions of dollars) FDI by Source :
Actual Inflows & Stocks of Foreign Direct Investments (Millions of dollars) in KSA by Country & Sector FDI Inflows Total Stock ( Millions of dollars ) TOTAL FDI Inflow to KSA (Millions of dollars) 8 8,,,,88
More informationGuide to Doing Business in Kuwait
Guide to Doing Business in Kuwait Introduction Doing business outside a person s jurisdiction can be challenging without proper guidance. It is therefore imperative for an investor to obtain useful information
More informationGas Supplies & Pricing Law
Article: 1 Definitions Gas Supplies & Pricing Law The following Terms and expressions shall have the meanings set forth below unless otherwise stated herein: - Saudi Aramco: Saudi Arabian Oil Company -
More informationLaw On Supervision of Cooperative Insurance Companies
Law On Supervision of Cooperative Insurance Companies Article 1 Insurance in the Kingdom shall be undertaken through registered insurance companies operating in a cooperative manner as it is provided within
More informationDOING BUSINESS IN THE UNITED ARAB EMIRATES by Bashir Ahmed, Afridi & Angell, Dubai
DOING BUSINESS IN THE UNITED ARAB EMIRATES by Bashir Ahmed, Afridi & Angell, Dubai I INTRODUCTION The United Arab Emirates (UAE) is a federation of seven Emirates that was formed by Abu Dhabi, Ajman, Dubai,
More informationBUSINESS ENTITIES AND ECONOMIC DEVELOPMENT
BUSINESS ENTITIES AND ECONOMIC DEVELOPMENT In support of business and economic development, the State of Nevada and its units of local government endeavor to maintain fair competition, promote growth,
More informationBusiness Briefing: Germany
159870 Business Briefing: Germany May 2015 Overview Area Population Population density 357,340.0 sq km 2014: 80.9 million people Population growth rate 2014: -0.2%* Fertility rate Birthrate Age group distribution
More informationHorizons in Credit. Copyright @ Saudi Credit Bureau 2014. Credit in Saudi Arabia
Horizons in Credit Copyright @ Saudi Credit Bureau 2014 Credit in Saudi Arabia Contents About the Booklet Credit Information Law SIMAH Supervision & Monitoring Public Records Fee Members Confidentiality
More informationThe Cooperative Insurance Companies Control Law (the Law )
The Cooperative Insurance Companies Control Law (the Law ) Article 1: Insurance activities within Saudi Arabia may only be conducted by insurance companies established and registered in Saudi Arabia and
More informationINVEST IN LEBANON GUIDE SETTING UP YOUR BUSINESS IN LEBANON
INVEST IN LEBANON INVEST IN LEBANON GUIDE SETTING UP YOUR BUSINESS IN LEBANON SETTING UP A LIMITED LIABILITY COMPANY OR S.A.R.L Required Documents/Tasks Company s By-Laws or Articles of Association Opening
More informationTHE CONTRACT FOR SINO-FOREIGN EQUITY JOINT VENTURE
THE CONTRACT FOR SINO-FOREIGN EQUITY JOINT VENTURE Chapter 1 General Provisions In accordance with the Law of the People s Republic of China on Joint Ventures Using Chinese and Foreign Investment (the
More informationWelcome to RAKIA. The Land of Business Opportunities
Welcome to RAKIA The Land of Business Opportunities Ras Al Khaimah At a Glance Ras Al Khaimah GDP Growth USD 6.55 Billion (2012) Umm al Quwain Ajman Sharjah Fujairah Dubai USD 4.5 Billion (2009) Abu Dhabi
More informationIndo-German Investments & Cooperation
Indo-German Investments & Cooperation FDI inflows set to grow in 2010-2011 The importance of foreign direct investment (FDI) for the development and the well-being of an economy is well accepted. In the
More informationDoing business in Qatar 2013. Information Compilation Report Version 1. Moore Stephens Middle East PRECISE. PROVEN. PERFORMANCE.
Doing business in Qatar 2013 Information Compilation Report Version 1 Moore Stephens Middle East PRECISE. PROVEN. PERFORMANCE. Table of Contents I. Country Overview... 3 II. Economy at glance... 3 III.
More informationOfficial English translation of the investment law. In the Name of God, Most Gracious, Most Merciful. In the Name of the People
Official English translation of the investment law In the Name of God, Most Gracious, Most Merciful In the Name of the People President s Office - Kurdistan Region - Iraq Pursuant to legislation by the
More informationDallah Healthcare Holding Company Dallah Health
Recommendation Fair Value (SR) Price as of 23 rd of April 2014 (SR) Expected return Company data Tadawul symbol 52- week high (SR) 52-week low(sr) YTD change Average trading volume (thousand shares) Market
More informationLegal Aspects of Doing Business in Russia
Legal Aspects of Doing Business in Russia Dmitry Labin Professor, Moscow Institute of International Relations (MGIMO University) Senior Counsel, Danilov & Konradi LLP ROADSHOW Portugal Global, 22 September
More informationAl Mubarak Credit Card Term and condition
Al Mubarak Credit Card Term and condition Arab National Bank ( Bank ) will issue the Al Mubarak Credit Card ( Card ), subject to the following Terms and Conditions: 1. Standard Definitions: A. Card: The
More informationEnglish Translation Of Implementing Regulation of the Real Estate Finance Law
English Translation Of Implementing Regulation of the Real Estate Finance Law Chapter One Definitions and General Provisions Article 1 The following terms and phrases wherever mentioned in this Regulation
More informationwww.ieche.com.sa 15-18 April 2015 Riyadh International Convention & Exhibition Center
The 6th International Exhibition & Conference on Higher Education 15-18 April 2015 Riyadh International Convention & Exhibition Center www.ieche.com.sa IECHE 2015 Introduction As it embarks on a countrywide
More informationSLB CONSULTING. Legal Aspects of Doing Business in the Gulf Countries. Presented By Me. Laila Sahyoun. Business Unit Networks Business Unit Networks
SLB CONSULTING Legal Aspects of Doing Business in the Gulf Countries Presented By Me. Laila Sahyoun Agenda 1. Transacting with Gulf Cooperation Council (GCC) 2. Strategic positioning & legal aspects 3.
More informationKazakhstan : NEW OPPORTUNITIES FOR INVESTMENTS
Kazakhstan : NEW OPPORTUNITIES FOR INVESTMENTS Agenda I. Why Kazakhstan is attractive for investors? II. Investing in Kazakhstan III. Contact details Why Kazakhstan is attractive for investors 1. Natural
More informationConsulate General of the United States of America Dhahran, Saudi Arabia
Consulate General of the United States of America Dhahran, Saudi Arabia LAWYER S LIST The following lawyers in the Dhahran / Al-Khobar / Dammam area have expressed interest in providing legal services
More informationGermany Energy efficiency report
Germany Energy efficiency report Objectives: 231 TWh of end-user energy savings by 216 Overview 29 2-29 (% / year) Primary intensity (EU=1) 1 99 + -1.3% - CO 2 intensity (EU=1) 16 - -1.6% - CO 2 emissions
More informationTAZEEM PASHA MANAGER, BUSINESS RETENTION AND EXPANSION SELECTUSA U.S. DEPARTMENT OF COMMERCE
TAZEEM PASHA MANAGER, BUSINESS RETENTION AND EXPANSION SELECTUSA U.S. DEPARTMENT OF COMMERCE Tazeem Pasha serves as Manager, Business Retention and Expansion at SelectUSA. Established by Executive Order
More informationOptions for Business Activities in the UAE
October 2013 Options for Business Activities in the UAE The matrix below provides an overview of the options available for a foreign company to conduct business activities within the United Arab Emirates
More informationChina Offshore Summit SHENZHEN, CHINA
China Offshore Summit SHENZHEN, CHINA 25-26 May, 2016 1 UNITED ARAB EMIRATES 2 nd largest economy in the Gulf Cooperation Council (GCC) region Population of about 10 million GDP (2014): USD 419 billion
More informationHow To Understand The Economic Situation In Saint Lucy
INVESTING IN SAINT LUCIA SPECIALIZED INVESTMENT OPPORTUNITIES FOR SMART BUSINESS PRESENTED BY: McHale Andrew CEO INVEST SAINT LUCIA SAINT LUCIA - Country Profile 2 Source: Central Statistics Office ECONOMIC
More informationRESEARCH SAUDI ARABIA RESIDENTIAL MARKET REVIEW 2016
SAUDI ARABIA RESIDENTIAL MARKET REVIEW 216 SAUDI ARABIA RESIDENTIAL MARKET REVIEW 216 KEY FINDINGS The residential market across the main cities of Saudi Arabia (Riyadh, Jeddah and the Eastern Province)
More informationCommercial agency agreements are controlled by Royal Decrees, Ministry of Commerce Resolutions and Council of Ministers Resolutions.
'SELECTING AN AGENT' This summary deals with commercial agencies, which is a term covering both agencies and distributorships. Only Saudi national companies or companies which are wholly Saudi-owned may
More informationGCC in times of cheap oil: an opportunity for economic reform and diversification
GCC in times of cheap oil: an opportunity for economic reform and diversification Kevin Körner & Oliver Masetti GCC in times of cheap oil: an opportunity for economic reform and diversification, June 215
More informationBUSINESS FINANCING IN TANZANIA (CHALLENGES & OPPORTUNITIES)
BUSINESS FINANCING IN TANZANIA (CHALLENGES & OPPORTUNITIES) 1 The Agenda Why long term financing? The current status and existing alternatives Challenges of raising long term capital in Tanzania Capital
More informationProject Finance in Saudi Arabia
Project Finance in Saudi Arabia October 2010 in the Middle East and Saudi Arabia Basic Facts employs approximately 200 people in MENA region, having full branch licenses in Saudi Arabia, UAE and Qatar
More informationSeminar on Overview of Regulations for Companies and Corporate Governance Regulations in Saudi Arabia
Seminar on Overview of Regulations for Companies and Corporate Governance Regulations in Saudi Arabia Karim Nassar Zahi Younes Omar Iqbal Baker & McKenzie Limited is a member firm of Baker & McKenzie International,
More informationCountry trade view Italy. Trends in global trade
Country trade view Italy Trends in global trade Summary Italy is a significant player in world trade. In 2014, it was the eleventh-largest importer and the ninth-largest exporter in the world. Italy comprises
More information4. Why Choose Dubai as Investment Location. 5. Reasons For Doing Business in Dubai. 6. Setting up a Business in Dubai
1. Introduction to Fasttrack Business Center 2. About Dubai 3. Dubai Economy 4. Why Choose Dubai as Investment Location 5. Reasons For Doing Business in Dubai 6. Setting up a Business in Dubai 7. Visa
More informationCorporate Governance Regulations
Corporate Governance Regulations Contents Part 1: Preliminary Provisions Article 1: Preamble... Article 2: Definitions... Part 2: Rights of Shareholders and the General Assembly Article 3: General Rights
More informationwww.fidfinvest.com Taxation in United Arab Emirates
Taxation in United Arab Emirates The United Arab Emirates (UAE) is located on the southern coast of the Arabian Gulf and is a Federation of seven emirates, Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al Quwain,
More informationRoyal Decree No. 66/2014. To Promulgate the Consumer Protection Law
Royal Decree No. 66/2014 To Promulgate the Consumer Protection Law The first edition 2015 Royal Decree No. 66/2014 To Promulgate the Consumer Protection Law 4 We, Qaboos Bin Saed The Sultan of Oman. After
More informationUNITED REPUBLIC OF TANZANIA TANZANIA INVESTMENT CENTRE INVESTMENT CLIMATE AND OPPORTUNITIES IN TANZANIA
UNITED REPUBLIC OF TANZANIA TANZANIA INVESTMENT CENTRE INVESTMENT CLIMATE AND OPPORTUNITIES IN TANZANIA PRESENTATION TO THE CDM WORKSHOP DAR ES SALAAM INTERNATIONAL CONFERENCE CENTRE 21 ST JANUARY,2008
More informationOman 20/20 vision 16 Deloitte A Middle East Point of View Fall 2013
20/20 vision 16 Deloitte A Middle East Point of View Fall 2013 Once a middle-income economy heavily dependent on depleting oil resources, the Sultanate of Oman has been actively pursuing a development
More informationDOING BUSINESS IN QATAR
DOING BUSINESS IN QATAR CONTENTS Doing Business in Qatar has been prepared by Squire Patton Boggs (MEA) LLP as a general introduction for those interested in business activities in Qatar and is not intended
More informationKINGDOM OF SAUDI ARABIA. Capital Market Authority CREDIT RATING AGENCIES REGULATIONS
KINGDOM OF SAUDI ARABIA Capital Market Authority CREDIT RATING AGENCIES REGULATIONS English Translation of the Official Arabic Text Issued by the Board of the Capital Market Authority Pursuant to its Resolution
More informationSetting up your Business in UAE Issues to consider
The UAE has a vibrant free economy, a significant proportion of its revenues arising from exports of oil and gas. The establishment of free zones has been an important feature of a diversification policy
More informationSCHOLARSHIPS AND STUDENT SUPPORT The Saudi Model in Canada
SCHOLARSHIPS AND STUDENT SUPPORT The Saudi Model in Canada CBIE S 45 TH ANNUAL CONFERENCE ON INTERNATIONAL EDUCATION FAISAL AL-MOHANNA ABAALKHAIL Saudi Arabian Cultural Attaché in Canada Ottawa, Ontario
More informationAspects of fiscal/debt management and monetary policy interaction: the recent experience of Saudi Arabia
Aspects of fiscal/debt management and monetary policy interaction: the recent experience of Saudi Arabia Abdulrahman Al-Hamidy 1 Abstract As Saudi Arabia s oil export revenues constitute about 90% of its
More informationKINGDOM OF SAUDI ARABIA. Capital Market Authority CREDIT RATING AGENCIES REGULATIONS
KINGDOM OF SAUDI ARABIA Capital Market Authority CREDIT RATING AGENCIES REGULATIONS English Translation of the Official Arabic Text Issued by the Board of the Capital Market Authority Pursuant to its Resolution
More informationFamily Visit Visa FOR SAUDI ARABIA
Saudi Arabia Family Visa TRAVEL VISA PRO Call us for assistance Toll-free: (866) 378-1722 Fax: (866) 511-7599 www.travelvisapro.com Family Visit Visa FOR SAUDI ARABIA A Valid Passport which has at least
More informationINVESTING IN TURKEY THE NEW INVESTMENT INCENTIVE SYSTEM
INVESTING IN TURKEY THE NEW INVESTMENT INCENTIVE SYSTEM Warsaw, February 2013 New Program Policy Orientation The year 2023 would be the centenary of Turkish Republic s establishment. Therefore we set up
More informationThe 2013 Amendment to the 1980 Arab League Investment Agreement
The 2013 Amendment to the 1980 Arab League Investment Agreement A step towards improving the region s attractiveness to investors NOTE: This draft brochure responds to a request of the League of Arab States
More informationDoing Business in Egypt KPMG HAZEM HASSAN
Doing Business in Egypt KPMG HAZEM HASSAN 2 Contents Introduction 3 Doing Business in Egypt 4 Alternatives of Investment in Egypt 6 th 1 Free Zones Investment System nd 2 Inland Investment System rd 3
More informationDOING BUSINESS IN AUSTRALIA. Presented by Sean Urquhart Tax Partner at Nexia Australia T: 61 2 9251 4600 E: surquhart@nexiacourt.com.
DOING BUSINESS IN AUSTRALIA Presented by Sean Urquhart Tax Partner at Nexia Australia T: 61 2 9251 4600 E: surquhart@nexiacourt.com.au DISCLAIMER The material contained in this publication is in the nature
More informationYOON & YANG LLC TAX PRACTICE GROUP
YOON & YANG LLC TAX PRACTICE GROUP TAX PRACTICE Group YOON & YANG LLC TAX PRACTICE GROUP TAX PRACTICE GROUP OUR FIRM Yoon & Yang LLC, a leading law firm based in Seoul, Korea, promises the highest-quality
More informationDialogues for creating a collective platform of business cooperation between Brazil and Nigeria.
Photo by Alexandre Lopes 13-15 AUGUST, 2013 Everest Rio Hotel Ipanema. Brazil Dialogues for creating a collective platform of business cooperation between Brazil and Nigeria. Organized by Partners PRESENTATION
More informationNegotiation of a Free Trade Agreement between Hong Kong and the Association of Southeast Asian Nations. Consultation Document
Negotiation of a Free Trade Agreement between Hong Kong and the Association of Southeast Asian Nations Consultation Document INTRODUCTION The Government of the Hong Kong Special Administrative Region will
More informationWelcome To Bahrain 1
Welcome To Bahrain 1 Services Provided by the Economic Development Board (EDB) The EDB s Business Development Department provides free facilitation services for companies planning to establish or expand
More informationTITLE 7 CORPORATIONS CHAPTER 7-1 GOVERNMENTAL CORPORATIONS AND LIMITED LIABILITY COMPANIES
TITLE 7 CORPORATIONS CHAPTER 7-1 GOVERNMENTAL CORPORATIONS AND LIMITED LIABILITY COMPANIES 7-1-1 Corporations and Limited Liability Companies Authorized This Act shall be known as the Tribal Governmental
More informationSetting Up a Business in Dubai International Financial Centre. Facts Sheet
Setting Up a Business in Dubai International Financial Centre Facts Sheet Financial activities that may be carried out within the DIFC Accepting deposits Providing Credit Dealing in Investments as Principal
More informationChina Energy efficiency report
China Energy efficiency report Objective: 16% reduction in primary energy intensity by 215 Overview 211-211 (%/year) Primary intensity (EU=1)¹ 222 -- -2.8% ++ CO 2 intensity (EU=1) 294 -- -2.5% + CO 2
More informationNATIONAL PEOPLE S POWER ASSEMBLY. JUAN ESTEBAN LAZO HERNÁNDEZ, President of the National People's Power Assembly of the Republic of Cuba.
NATIONAL PEOPLE S POWER ASSEMBLY JUAN ESTEBAN LAZO HERNÁNDEZ, President of the National People's Power Assembly of the Republic of Cuba. HEREBY STATES THAT: The National People's Power Assembly of the
More informationLaw of Georgia On the Investment Activity Promotion and Guarantees
Law of Georgia On the Investment Activity Promotion and Guarantees The present law defines the legal bases for realizing both foreign and local investments and their protection guarantees on the territory
More informationMaritime Trade and Transportation by the Numbers
By Matthew Chambers and Mindy Liu The nation will observe Maritime Day on May 22, which was designated by Congress in 1933 to honor U.S. merchant mariners and the maritime industry. 1 Water transportation
More informationGlobal Exhibition on Services
Ministry of Commerce & Industry Global Exhibition on Services Concept Note 1 GES Concept Note Global Exhibition on Services (GES) - Concept Note The Government of India, Ministry of Commerce and Industry
More informationNational and International Business and Tax Law. Successful investing in Vietnam Massmann s investment guide in Vietnam. 1 st Book THE BASICS
Should you be interested in the whole edition of the Investment Guide Book 1, please contact me any time. OMassmann@duanemorris.com National and International Business and Tax Law Successful investing
More informationComparing Chinese Investment into North America and Europe
Comparing Chinese Investment into North America and Europe 1 EXECUTIVE SUMMARY Chinese outbound foreign direct investment (OFDI) has grown rapidly in recent years and is increasingly flowing to high-income
More informationChinese Economy and Business Opportunities
Chinese Economy and Business Opportunities Qinglei Dai Faculdade de Economia Universidade Nova de Lisboa Agenda Chinese economic growth: an overview International trade with China FDI in China China-Portugal
More informationPerformance = Ratio of Knowledge
Performance = Ratio of Knowledge Introduction SG Petroleum is a company based in the Eastern Province of the Kingdom of Saudi Arabia and has over 200 years of collective experience. The company is situated
More informationFramework about establishing a business in the UAE
Framework about establishing a business in the UAE 1. Establishing a branch of a foreign company Branches of foreign companies can be set up in the UAE in two different forms. Besides the classical form
More informationMarket Update from Associated Insurance Consultants - UAE
Market Update from Associated Insurance Consultants - UAE New unemployment insurance benefits for employees in the GCC Despite rapid economic growth over the past decade, the unemployment rate of nationals
More informationING International Trade Study Developments in global trade: from 1995 to 2017. Singapore
ING International Trade Study Developments in global trade: from 1995 to 2017 Singapore Executive summary Singapore is expected to grow on average 3.7% in the coming years. This is relatively low compared
More informationEntry Into The Canadian Market
Entry Into The Canadian Market Setting up a Business in Canada: For organizations looking to enter into a developed market, Canada is a great place to be. It is a well-developed nation with investor friendly
More informationeducation. In contrast, workers engaged in fishing worked an average of 61.7 hours per
THAILAND 40,000 Fig. 1: Employment by Major Economic Activity ('000s), 2002-2008 Agriculture, Forestry, Agriculture, Forestry & 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 2002 2004 2006 2008 Mining
More informationDoing business in Hong Kong
I. INTRODUCTION Doing business in Hong Kong Tim Drew Partner timdrew@robertwang.com Karen Yan Associate karenyan@robertwang.com Robert Wang Solicitors 1 On 1 July 1997, sovereignty over Hong Kong transferred
More informationKNOWLEDGE-BASED ECONOMY
KNOWLEDGE-BASED ECONOMY 5.1 INTRODUCTION A knowledge-based economy is defined as an economy that is capable of knowledge production, dissemination and use; where knowledge is a key factor in growth, wealth
More informationSUMMARY (1) ECONOMIC ENVIRONMENT
Page vii SUMMARY 1. The UAE's trade regime is open, with low tariffs and few non-tariff barriers to trade. The UAE's openness was instrumental to achieving the solid growth registered prior to the global
More informationEngineering Education for a Resilient Society: A Case Study of the Kingdom of Saudi Arabia
Engineering Education for a Resilient Society: A Case Study of the Kingdom of Saudi Arabia Mohammed Mujahid Ulla Faiz and Mubarak Saad Al-Mutairi Abstract In this paper, we have compared the achievements
More informationINTERNATIONAL EMPLOYMENT GROUP. Employment Services in Oman
INTERNATIONAL EMPLOYMENT GROUP Employment Services in Oman We continue to recommend them to others because of their strength in dealing with detail CHAMBERS GLOBAL 2015 10-5112821-9 0 Addleshaw Goddard's
More informationFifty years of Australia s trade
Fifty years of Australia s trade Introduction This edition of Australia s Composition of Trade marks the publication s 50th anniversary. In recognition of this milestone, this article analyses changes
More informationFOREIGN DIRECT INVESTMENT IN CAMBODIA
FOREIGN DIRECT INVESTMENT IN CAMBODIA PHNOM PENH SECURITIES PLC. No. 32, Monivong Bld, Phnom Penh, Cambodia Tel: +855-23-426-999 Fax: +855-23-426-495 Website: http://www.pps.com.kh In this Paper: Executive
More informationMotor Insurance Policy (Third Party) Customer Service RIYADH JEDDAH KHOBAR
Motor Insurance Policy (Third Party) Customer Service 8004414442 RIYADH JEDDAH KHOBAR Motor Insurance Plan WHEREAS The policyholder has made an application to Medgulf The Mediterranean and Gulf Cooperative
More informationLEGISLATIVE AMENDMENTS
111 1 Ukraine Ratified the WTO Agreement on Simplification on Customs Procedures 2 Law on Prevention of Corruption in Sports in Effect 10 December 2015 3 Law on Additional Guarantees to Persons Employed
More informationEXPERT MEETING on. Geneva, 24-25 September 2007. Foreign Direct Investment in Vietnam. Ms. Le Hai Van
EXPERT MEETING on COMPARING BEST PRACTICES FOR CREATING AN ENVIRONMENT CONDUCIVE TO MAXIMIZING DEVELOPMENT BENEFITS, ECONOMIC GROWTH AND INVESTMENT IN DEVELOPING COUNTRIES AND COUNTRIES WITH ECONOMIES
More informationKingdom of Saudi Arabia Capital Market Authority. Capital Market Law and its Implementing Regulations
Kingdom of Saudi Arabia Capital Market Authority Capital Market Law and its Implementing Regulations Introduction The Capital Market Authority was established to achieve a set of goals. The most important
More informationBank Finance and Regulation Survey. Bolivia
Bank Finance and Regulation Survey Bolivia I. Banks and Financial Institutions Supervision 1. Applicable laws and regulations: Laws: Law No. 1178 dated Jul. 20, 1990: Law No. 1488 dated Apr. 14, 1993:
More informationCampus Recruiting. Tax. kpmgcampus.com
Campus Recruiting Tax kpmgcampus.com EVS KPMG s Economic and Valuation Services (EVS) professionals offer a wide range of advanced analytical services that help clients make forward-thinking decisions
More informationRIGHTS ISSUE PROSPECTUS
RIGHTS ISSUE PROSPECTUS Buruj Cooperative Insurance Company Offering of 12,000,000 Ordinary Shares through a rights issue at an Offer Price of SAR 10 per Share, representing an increase in the Capital
More informationTopicsinChineseLaw AN O'MELVENY & MYERS LLP RESEARCH REPORT. China's Regulation of "Round Trip Investments" * by Howard Chao and Kaichen Xu **
TopicsinChineseLaw AN O'MELVENY & MYERS LLP RESEARCH REPORT January 2008 China's Regulation of "Round Trip Investments" * by Howard Chao and Kaichen Xu ** During the past couple of years, China has been
More informationMINNESOTA CLEAN ENERGY ECONOMY PROFILE. How Industry Sectors are Advancing Economic Growth
MINNESOTA CLEAN ENERGY ECONOMY PROFILE How Industry Sectors are Advancing Economic Growth OCTOBER 2014 EXECUTIVE SUMMARY Readily available and reliable energy is critical for the economic vitality, public
More information