NCC seeks public opinion on amending first paragraph of Article 50 of the Kingdom’s Code of Law Practice
Saudi Arabia is considering allowing foreign law firms, licensed to practise the legal profession in the Kingdom, to establish companies wholly owned by non-Saudis to enhance foreign investment, according to the National Competitiveness Centre (NCC).
In a post on its X platform, the NCC sought public opinion regarding a proposal by the Ministry of Justice to amend the first paragraph of Article 50 of the Kingdom’s Code of Law Practice.
The amendment aims to allow foreign law firms, licensed to practise in the Kingdom, to establish professional companies wholly owned by non-Saudis, to provide legal advice on Saudi regulations and to plead before the courts in accordance with the controls specified by the regulations, through a Saudi lawyer registered in the practising lawyers’ register.
According to information posted on the Istitlaa platform, the project aims to develop the legal profession, raise the quality and efficiency of its practice and localise global expertise. This is in addition to enhancing the Kingdom’s competitiveness, improving its business environment and raising the efficiency of the justice system by increasing the level of professionalism in the legal profession.
The project will also contribute to achieving Saudi Arabia’s goals in stimulating foreign investment, moving the regional headquarters of international companies to Saudi Arabia, and creating more qualitative job opportunities for citizens, both directly and indirectly.
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