On 28 June 2022, the Saudi Council of Ministers approved the new KSA Companies Law (Companies Law) and the final approved version of the law was published in the official gazette on 4 July 2022. The Companies Law comes into effect 180 days from publication, on 31 December 2022, and its implementing regulations are expected to be published on or before such time. Companies law in the Kingdom has not been amended or updated since 2015, and, with the accelerated development of the corporate and business environment over recent years, the new Companies Law introduces a number of developments critical to ensure alignment with the Kingdom’s Vision 2030.
We provide an overview of the key changes introduced in the Companies Law.
