Contracts are an essential part of doing business. Contracts become binding agreements between the parties and they govern the parties’ rights and duties. Both companies and consumers use contracts when they buy and sell goods, when they license products or activities, for employment agreements, for insurance agreements and many more. Contracts make these transactions happen smoothly and without any misunderstandings.
Mohammed Al-Muzayen Law Firm takes pride in being one of the very few practitioners in Saudi Arabia with extensive experience in Corporate Structuring, by providing complete structuring solutions for our clients for many years now.
In this regard, as joint stock companies (JSCs) are arguably the most regulated form of corporate entity in Saudi Arabia, we at Mohammed Al-Muzayen Law have established many joint stock companies in the past, owing to our speedy, efficient and consistent services and our expert advice on this particular type of structuring option.
In line with the Saudi Vision 2030, Saudi Arabia is aiming at accelerating development in the kingdom when it comes to various forms of global economies. Public and private joint-stock companies are considered the most significant pillar where it includes the greater space in the business and commercial sector. Joint stock companies only require a minimum of two (2) shareholders, which may be composed of a shareholder and two affiliated foreign companies. Some of the advantages of forming joint stock companies include; foreign companies are allowed to bid for government contracts and can operate in the kingdom without a Saudi Agent or Partner and enjoys exemption from customs duties on imports on industrial projects and machineries. At Mohammed Al-Muzayen Law, we guarantee not only a legally-compliant, but also legally-sound corporate structure – no matter how complex it may be. Should you engage in a public or private joint stock company, we will make sure that you always get the advantage.
We also give advice on the advantages and disadvantages of various corporate structures such as sole proprietorships, partnerships, corporations and limited liability company structures and assist you to find out which one is right for your business.