Saudi Arabia: Foreigners to be allowed to run Saudi-owned companies

Saudi Arabia has decided to allow foreigners to run Saudi-owned companies. Okaz/Saudi Gazette has learned that the Ministry of Commerce has taken a decision in this regard.

The second paragraph of the ministerial decision issued in the Hijri year 1426 has been revoked by Ministry of Justice, which states that it is not permissible for a foreigner to manage a Saudi company or grant him any powers through a judicial order to delegate a Saudi citizen’s authorization to a foreigner in this regard.

Minister of Justice said in a circular that the ministry had received a telegram from Minister of Commerce, in this regard.

The circular stated that “A working team, which was constituted by the Ministry of Commerce, to study the issue, came to the conclusion that there is no objection in appointing non-Saudis as managers of Saudi-owned companies, as well as in authorizing foreigners to act in place of Saudis for running the companies.”

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