Foreign Investment in Saudi Arabia: Is MISA Registration Enough to Operate?

Registration is not readiness

Saudi Arabia's updated investment framework has made foreign investment entry more structured, more transparent and more investor-facing. The practical risk is that foreign investors may treat investment registration as the point at which the Saudi business is ready to operate.

The assumption is often premature. Investment registration is an important legal step, but it does not itself complete company formation, commercial registration, sector licensing, labour approvals, tax setup, real estate rights, contract enforceability, governance arrangements, dispute planning or exit mechanics.

The greater risk often arises after registration, when an investor assumes that market entry is a single approval rather than a sequence of legal handoffs between MISA, the Commercial Register, sector regulators, HRSD, ZATCA, banks, real estate authorities, contract counterparties and dispute forums.

The question is therefore not only whether a foreign investor can enter Saudi Arabia. The more important question is whether the Saudi structure can operate, govern, employ, contract, enforce and exit without avoidable legal friction.

1. What changed under Saudi Arabia's new Investment Law for foreign investors?

The important shift is conceptual as well as administrative.

Saudi Arabia's updated Investment Law moves the discussion away from a narrow foreign investment licence mindset and towards a broader framework based on investment registration, investor rights, equal treatment, transparent procedures, freedom to transfer funds, protection from confiscation or expropriation except under defined conditions, and access to dispute-resolution options.¹

Under the Investment Law, a foreign investor must register with the Ministry of Investment before making an investment, save where the investment concerns securities governed by the Capital Market Law.² The statutory gateway is clearer, but the Investment Law also proceeds on the basis that investors remain subject to the Kingdom's applicable laws and regulations.³

The practical point is that registration starts the Saudi legal workstream. Registration does not decide whether the investor can lawfully operate through the chosen vehicle, employ the required workforce, use the relevant premises, conduct regulated activities, enforce contractual rights or exit cleanly.

2. Is MISA registration enough for a foreign company to operate in Saudi Arabia?

MISA registration is a necessary market-entry step. It is not a complete operating authorisation.

A foreign investor may still require commercial registration, sector-specific licences, municipal approvals, tax and customs registration, bank-account arrangements, labour files, work permits, GOSI registration, Saudi-law compliant contracts, real estate rights, manager-authority documents and internal governance approvals.

The Investment Law recognises this distinction by permitting the Ministry, through its comprehensive service centre, to receive applications for legal approvals required to practise an investment activity, including licences and permits, and to coordinate with the competent authorities responsible for issuing those approvals.⁴

A foreign company may therefore be duly registered as an investor yet remain unable to operate a clinic, school, logistics facility, energy project, financial-services activity or regulated professional service until the relevant sector approvals and operating requirements have been obtained and aligned.

3. What approvals does a foreign investor need after MISA registration in Saudi Arabia?

The post-registration approvals depend on the activity, legal vehicle and regulatory regime.

Even a straightforward advisory or service business will ordinarily require steps beyond investment registration. These may include commercial registration, ZATCA registration, opening the relevant labour file, Qiwa and GOSI registrations, bank-account opening, national address or premises requirements, and appropriate corporate authority documents.

Where the activity is regulated, asset-heavy, land-dependent or licence-sensitive, the approval analysis may also require engagement with sector regulators, municipal authorities, real estate authorities, special economic zones, professional licensing bodies, or government and quasi-government counterparties.

The Implementing Regulations of the Investment Law regulate registration, annual updates, excluded and restricted activities, investor complaints, violation detection and suspension.⁵ The MISA Investor Guide supplies the operational layer, including post-registration services, annual updates, ownership amendments and amendments to economic activities.⁶

Each approval, filing and registration should be mapped by responsible authority, timing, supporting documents and consequence of delay before the investor assumes that the Saudi business may commence operations.

4. What is the difference between investment registration and operational readiness in Saudi Arabia?

Investment registration concerns entry into the Saudi investment framework. Operational readiness concerns the ability of the Saudi structure to conduct the intended business lawfully.

A company may be registered as a foreign investor yet remain unable to operate if commercial registration is incomplete, the activity requires sector approval, foreign employees lack the necessary authorisation, manager authority is not properly recorded, the relevant lease or usufruct right is insufficient, contracts are not adapted to Saudi law, or the dispute-resolution clause has not been drafted with enforcement in mind.

Two points usually expose the distinction in practice. A foreign company may secure a Saudi project but remain unable to mobilise foreign personnel until work permits, profession classifications and employment documents are in place.⁷ A foreign investor may also negotiate veto rights in a JVA or SHA, but those rights may have limited practical value if the Articles of Association, resolutions, authority matrix and relevant registers do not reflect the agreed position.⁸

Operational readiness therefore requires investment registration, corporate structure, regulatory approvals, workforce permissions, contractual architecture and enforcement strategy to operate coherently.

5. What are available, restricted and excluded activities for foreign investors in Saudi Arabia?

Foreign investors should distinguish between three categories of activity.

The first comprises activities generally available for foreign investment, subject to registration and the ordinary requirements of Saudi law. The second comprises restricted activities, which may be open to foreign investors only where applicable conditions, approvals or ownership-change requirements are satisfied. The third comprises excluded or prohibited activities, which are not ordinarily open to foreign investors unless approval is obtained through the prescribed process.

The Investment Law permits investment in any sector or activity available for investment, subject to the provisions concerning excluded activities, national security and other applicable laws.⁹ The statutory framework also treats excluded activities as including activities in which foreign investment is prohibited or restricted.¹⁰ The Implementing Regulations require the list of excluded activities to identify both prohibited and restricted activities and require prior approval where a foreign investor seeks to engage in an excluded activity or make an ownership change in a restricted activity.¹¹

The transactional consequence is direct. A share or quota transfer may appear to be a private transaction, but if the target carries on a restricted activity, the ownership change may require regulatory approval. A foreign investor should therefore test the activity, regulator, investment registration and ownership-change requirements before signing the SPA, JVA or SHA.

6. What annual updates and post-registration filings must foreign investors make with MISA?

Foreign investment compliance does not end at registration.

The Implementing Regulations of the Investment Law require a registered investor to submit annual updates in respect of the declarations signed upon registration, together with any change to the information or data recorded in the National Registry of Investors. The same provision also addresses notification, reactivation and re-registration consequences.¹² The MISA Investor Guide identifies corresponding post-registration services, including the annual registration update, ownership amendments and amendments to economic activities.¹³

A Commercial Register amendment should not be assumed to update the investment record. Where ownership, activities or registered information change, the investor should check whether a corresponding MISA update, approval or filing is required.

MISA annual updates and post-registration filings should therefore sit in the same compliance calendar as tax, audit, payroll, Commercial Register maintenance, financial-statement filings and licence renewals.

7. Which company structure is better for foreign investors in Saudi Arabia: LLC or SJSC?

The appropriate vehicle depends on the nature of the business, the intended governance structure and the investor's exit requirements.

An LLC will often be suitable for ordinary operating businesses where the ownership structure is simple and the parties do not require extensive governance mechanics. A simplified joint-stock company may be preferable where the investment requires greater structural flexibility.

The Companies Law provides that the minimum capital requirement applicable to a joint-stock company does not apply to an SJSC.¹⁴ The Companies Law also permits the SJSC's Articles of Association to regulate, among other matters, share classes and the rights attached to those classes, management arrangements, assignment of shares, shareholder meetings, shareholder decisions and quorum requirements.¹⁵

SJSC flexibility is useful in venture capital, private equity, founder-investor arrangements and strategic joint ventures, particularly where the structure depends on future funding rounds, transfer restrictions, compulsory transfer rights or internal dispute mechanisms. The value of an SJSC, however, lies in the quality of the constitutional drafting. Reserved matters, transfer restrictions, approval thresholds and exit rights must be drafted with precision and reflected in the documents through which the company is governed.

8. Why do share transfers, manager powers and Commercial Register updates matter in Saudi deals?

Signed transaction documents do not, without the corresponding statutory registrations, necessarily complete the legal position.

Under the Companies Law, ownership of interests in an LLC is transferred upon registration with the Commercial Register, and the transfer is not effective against the company or third parties except from the date of registration. For unlisted joint-stock companies and simplified joint-stock companies, shares are transferred by registration in the shareholders' register, and the transfer is not effective against the company or third parties except from the date of that registration.¹⁶

Manager authority requires the same discipline. In an LLC, a resolution appointing or replacing a manager, or restricting the manager's powers, is not effective against third parties until it is registered with the Commercial Register.¹⁷

The practical consequence is that closing should not be treated as a signature event only. The SPA, payment mechanics, corporate approvals, Articles of Association, Commercial Register records, shareholders' register and manager-authority records should be brought into alignment before the investor proceeds on the basis that ownership, control and authority have been completed.

9. How should foreign investors protect governance rights in Saudi JVs, founder deals and shareholder arrangements?

Governance protection should be built into the corporate architecture. It should not depend only on trust, informal understandings or side letters.

Under the Companies Law, managers and board members owe duties of care and loyalty, including acting within the scope of authority, acting in the company's interests, exercising reasonable care, avoiding conflicts, disclosing direct or indirect interests, and not accepting third-party benefits connected with the role.¹⁸ The Companies Law also restricts unauthorised conflicted transactions, competition with the company, and misuse of company assets, information or opportunities.¹⁹

Those statutory duties do not, of themselves, create the negotiated control rights usually required by a foreign investor. In founder-led investments, strategic joint ventures, nominee arrangements, local-partner structures and management-controlled businesses, investor protection depends on the alignment of contractual rights, constitutional documents, corporate approvals, authority records and relevant register entries.

A properly constructed governance package should align, where applicable, the SPA, JVA, SHA or partners' agreement; Articles of Association or bylaws; partner, shareholder, board or manager resolutions; board, manager and signing-authority documents; Commercial Register or shareholders' register updates; bank mandates; related-party and conflict-of-interest procedures; information, inspection and audit rights; and any reserved matters, transfer restrictions, compulsory transfer rights or exit mechanics intended to bind the structure in practice.

The legal objective is coherence between the private bargain and the company's formal authority structure. Investor rights are stronger where the same protections are reflected in the documents and records through which the company is governed, managed and bound.

10. Can foreign investors hire foreign employees in Saudi Arabia?

Foreign investors may hire non-Saudi employees, but only through the applicable labour, residency and work-authorisation framework.

HRSD's official Labour Law materials state that a non-Saudi may not practise work without a work permit from the Ministry. The worker must also have entered the Kingdom lawfully, be authorised to work, possess the required competence or qualification, and be under contract with, and under the responsibility of, an employer.²⁰ A work permit does not replace any permit or licence required by another authority to practise the relevant work or profession.²¹

Workforce mobilisation is therefore a delivery issue as well as an HR process. A foreign investor may complete investment registration, incorporate the Saudi vehicle and sign a Saudi client contract, yet still be unable to deploy key personnel if work permits, residency procedures, profession classifications and employment documents are not in place.

HRSD's materials further provide that a non-Saudi employment contract must be written and fixed-term.²² The employer may not employ the worker in a profession different from the profession stated in the work permit.²³ The practical risk is misalignment between the staffing plan and the authorised workforce. The investor should therefore test whether the personnel required to deliver the Saudi business plan can be lawfully mobilised.

11. What labour-law costs and Saudization risks should foreign investors budget for in Saudi Arabia?

Foreign investors should model the full employment cost of operating in Saudi Arabia, not only base salary.

HRSD's official Labour Law materials state that the employer bears recruitment fees, residence and work-permit fees and renewals, penalties resulting from delay in renewal, profession-change fees, exit and re-entry fees, and the cost of the worker's return ticket after termination of the employment relationship.²⁴ HRSD's materials also state that the Ministry may refuse to renew a work permit where the employer breaches job-nationalisation standards or other applicable conditions and regulations.²⁵

A financial model that captures only salary may understate employment cost and workforce-continuity risk. The model should account, where applicable, for residence and work-permit costs, renewal charges, GOSI contributions, contractual allowances, leave, end-of-service liabilities, profession changes, exit and re-entry costs, return-ticket obligations and the cost of maintaining Saudization compliance.

Saudization should be treated as part of workforce capacity and project delivery. Failure to satisfy applicable nationalisation requirements may affect work-permit renewal, mobilisation, staffing continuity, pricing and delivery assumptions.

12. Can foreign investors own, lease or use real estate in Saudi Arabia?

Real estate rights should be analysed separately from investment registration.

Foreign investment registration does not, of itself, confer an unrestricted right to own real estate, acquire proprietary real estate rights, or rely on a lease, usufruct or other land-use arrangement sufficient for the investor's intended operations. The proposed real estate position should be tested against the real estate regime, the identity of the holder, the location of the asset, the intended use and any sector-specific licensing requirements.

The Law of Real Estate Ownership and Investment by Non-Saudis permits a non-Saudi to own real estate, or acquire other proprietary real estate rights in the Kingdom, within the geographical area determined by the Council of Ministers. The Council of Ministers determines, among other matters, the relevant geographical areas, the types of proprietary real estate rights that may be acquired, the maximum percentage of non-Saudi ownership, the maximum period for usufruct rights, and any related controls.²⁶

The Law of Real Estate Ownership and Investment by Non-Saudis contains specific provisions for Saudi companies whose capital is owned, in whole or in part, by non-Saudi natural or legal persons. Subject to statutory conditions and the Implementing Regulations, such companies may own real estate or acquire proprietary real estate rights within the prescribed geographical area, including Makkah and Madinah, and may also own or acquire rights required for their activities and employee housing.²⁷ Where the statutory registration requirement applies, ownership or acquisition of those rights is deemed valid upon registration with the Real Estate Registry.²⁸ The law also provides for a fee, not exceeding 5% of the value of the disposition, on the disposition by a non-Saudi of proprietary real estate rights in the Kingdom.²⁹

For land-dependent businesses, including hotels, hypermarkets, schools, hospitals, logistics hubs, industrial facilities, residential compounds and mixed-use developments, the land position may be a core operating asset, financing asset and licensing condition. The investor should verify whether the relevant ownership, usufruct, lease or use arrangement is permitted for the proposed holder, registrable where required, transferable, financeable, consistent with the intended use, and sufficient for the licences and operations on which the investment depends.

13. Why do Saudi contracts need local drafting after the Civil Transactions Law?

Saudi contracts should be drafted against the codified framework governing performance, good faith, breach, termination, compensation and survival of selected clauses.

The Civil Transactions Law requires a contract to be performed in accordance with its terms and in a manner consistent with good faith.³⁰ The Civil Transactions Law also permits a party to a bilateral contract, after notifying the defaulting party, to demand performance or termination where the other party fails to perform, with compensation where applicable.³¹

The contract should therefore identify the operative obligation, performance standard, notice method, cure period, documents required to prove breach, suspension rights, termination rights and consequences of termination.

The Civil Transactions Law further provides that dispute-settlement and non-disclosure clauses remain valid after termination unless the parties agree otherwise.³² Survival provisions should therefore be drafted deliberately. Where relevant, the contract should state whether confidentiality, dispute settlement, accrued payment obligations, audit rights, indemnities, limitation or exclusion of liability, document-retention obligations, return of materials and post-termination assistance survive termination.

Agreed compensation also requires care. Parties may agree compensation in advance, but not where the subject of the obligation is a cash amount. The court may reduce agreed compensation if the amount is excessive or if the original obligation has been partly performed, and may increase agreed compensation where fraud or gross negligence causes harm exceeding the agreed amount.³³

Payment risk should therefore be addressed through contractual protections and enforcement safeguards, not only through a late-payment damages clause. Depending on the transaction, the contract team should consider advance payment, milestone payments, payment-before-delivery obligations, bank guarantees, parent-company guarantees, suspension rights, retention-of-title wording where appropriate, promissory notes or notarised debt acknowledgments where suitable, security arrangements, clear termination rights, recovery-cost provisions and evidence requirements for proving loss.

Saudi-law review should also test the evidence trail: invoices, delivery notes, acceptance records, correspondence, approvals, notices, cure-period expiry and loss evidence. A well-drafted clause may still be difficult to enforce if the supporting record is incomplete.

14. Are arbitration awards enforceable in Saudi Arabia, and can they be challenged?

Arbitration can protect a foreign investor in Saudi Arabia, but only if the arbitration clause is drafted as part of the investment and enforcement structure.

The Investment Law permits investors to resolve disputes through alternative dispute-resolution methods, including arbitration, mediation and conciliation, where the parties have agreed to those methods.³⁴ The Arbitration Law requires the arbitration agreement to be in writing.³⁵ The arbitration clause should therefore be expressly drafted, approved by authorised signatories and aligned with the wider transaction documents.

The Arbitration Law provides that an arbitral award is not subject to appeal except through an action for nullification, and a nullification action must be filed within 60 days from notification of the award.³⁶ The competent court considers a nullification action without reconsidering the facts or merits of the dispute.³⁷

Nullification risk should nevertheless be addressed at the drafting stage. An award may be vulnerable on defined grounds, including lack or invalidity of the arbitration agreement, lack of capacity, improper notice, inability to present a defence, tribunal-composition issues, excess of authority, procedural defects affecting the award, inconsistency with Sharia or public order, or non-arbitrability.³⁸

The transaction team should therefore check signatory authority, written form, scope of arbitrable disputes, seat, institution, language, number of arbitrators, appointment mechanism, notice process, governing law, consolidation position, interim relief options and enforcement forum. Notice channels, service addresses, language requirements and record-keeping procedures should be drafted as enforcement controls, not as stylistic provisions.

An award rendered under the Arbitration Law has the authority of a judicial ruling and is enforceable, subject to the enforcement requirements of the law.³⁹ A foreign investor should plan enforcement before the dispute arises by checking the counterparty's assets, likely enforcement jurisdiction, need for interim measures, compatibility of the award with Saudi public order, and documents required to support enforcement.

15. What post-entry compliance mistakes do foreign investors make in Saudi Arabia?

Post-entry risk often arises after initial approvals have been obtained, when the Saudi structure is no longer managed as an integrated legal and operational system.

Common failures include committing to an acquisition or joint venture before confirming activity eligibility; signing commercial commitments before mapping MISA, sector-regulator, municipal, labour, tax and operational approvals; selecting a vehicle that does not support governance, funding or exit requirements; leaving investor protections in side letters without reflecting those protections in articles, resolutions, authority controls and registers; treating completion as achieved when Commercial Register, shareholders' register or manager-authority updates remain outstanding; mobilising foreign employees before Qiwa, GOSI, work permits, iqamas, profession classifications and Saudization requirements are aligned; using international templates without Saudi-law adaptation; signing land-use documents without testing licensing and financing requirements; treating arbitration wording as boilerplate; and omitting annual updates, CR maintenance, licence renewals, tax filings and financial-statement filings from the compliance calendar.

The Ministry of Commerce's annual confirmation service illustrates the point. The service requires the commercial registration to be active and, for foreign companies, requires a valid investment licence with at least 30 days' validity.⁴⁰ Commercial Register maintenance and investment-registration validity should therefore be monitored together.

Financial-statement filing is another recurring control point. The Ministry of Commerce has clarified responsibility for preparing and filing financial statements by company type, with filing through Qawaem required within six months from the end of the financial year.⁴¹ The board, manager or authorised officer should assign responsibility for accounts preparation, auditor coordination, approval, filing and evidence retention before the financial year closes.

The practical solution is an integrated Saudi compliance matrix identifying each recurring obligation, responsible owner, filing platform, deadline, supporting document, approving authority and consequence of delay. A Saudi structure is more resilient when maintenance obligations, filings, authorisations, register accuracy and evidence controls are monitored as part of governance, not left to ad hoc administration.

16. What legal checklist should foreign investors complete before entering Saudi Arabia?

Before committing capital, signing an SPA, entering into a JVA or assuming that a Saudi structure is ready to operate, a foreign investor should complete a practical legal readiness review in the sequence in which Saudi transaction risk normally arises.

• Commercial objective and deal route: identify the parties, target business, proposed activities, locations, investment amount, ownership percentage, revenue model and entry route, including new incorporation, branch registration, acquisition, asset purchase, joint venture, strategic partnership, LLC, SJSC, JSC or another structure.
• Feasibility and activity screen: before signing a term sheet, MoU or heads of terms, test foreign-investment eligibility, activity restrictions, excluded or restricted activities, sector-approval risk, foreign ownership issues, real estate dependency and any obvious impediment to completion or operation.
• Preliminary transaction documents: where more than one party is involved, record confidentiality, exclusivity, due diligence access, proposed structure, pricing basis, key conditions precedent, regulatory approvals, MISA registration or amendment, Commercial Register changes, shareholder approvals, third-party consents, financing conditions, long-stop date, break rights and binding status.
• Regulatory pathway: sequence the MISA, Ministry of Commerce, sector-regulator, municipal, tax, customs, real estate, labour, special-zone and other approvals required before signing, before completion and before operations commence.
• Due diligence: for an acquisition, joint venture or existing Saudi entity, review the Commercial Register, MISA record, licences, Articles of Association, shareholder records, manager authority, POAs, material contracts, litigation, employment files, ZATCA, GOSI, Qiwa, real estate documents, financial statements and compliance gaps.
• Structure and governance: confirm that the chosen vehicle supports the required ownership, funding, reserved matters, board or manager control, transfer restrictions, future capital raising and exit arrangements.
• Definitive documents: align the SPA, asset purchase agreement, JVA, SHA, partners' agreement, disclosure letter, completion accounts, warranties, indemnities, guarantees, confidentiality obligations, termination rights and dispute clause with the selected structure and Saudi-law requirements.
• Conditions precedent and completion deliverables: draft the CP schedule around the approvals, filings, documents and evidence required for completion, including MISA approval or amendment, Commercial Register update, Articles amendment, approvals, resolutions, consents, financing documents, payment mechanics, POAs, notarised documents and sector clearances.
• Corporate records and authority implementation: ensure that the Articles of Association, bylaws where applicable, resolutions, authority matrix, manager powers, signing controls, bank mandates, ownership transfers, shareholders' register entries and manager-authority records reflect the agreed legal position.
• Investor protections: place reserved matters, veto rights, transfer restrictions, compulsory transfer rights, information rights, audit rights, related-party controls, conflict protocols, deadlock mechanisms and exit mechanics in the documents and records that can make them operate in practice.
• Real estate and premises: where the business depends on land, premises, usufruct, lease rights or ownership, confirm whether the arrangement is permitted, registrable where required, financeable, transferable and sufficient for licensing, operations, employee housing and sector approval.
• Operational and workforce readiness: confirm licences, premises approvals, bank-account arrangements, national address, platform registrations, ZATCA, e-invoicing, sector approvals, Qiwa, GOSI, Mudad where applicable, work permits, iqamas, profession classifications, written employment contracts and Saudization requirements.
• Financial model: build work-permit costs, iqama costs, GOSI, allowances, leave, end-of-service exposure, profession changes, exit and re-entry costs, return-ticket obligations and Saudization requirements into pricing, bid modelling and the operating budget.
• Contracts, evidence and enforcement: adapt payment terms, suspension rights, termination rights, agreed compensation, confidentiality, non-compete provisions, dispute clauses, survival clauses, notice mechanics, evidence requirements and enforcement safeguards to Saudi law, and identify the documents needed to prove delivery, acceptance, delay, variation, non-payment, notice and loss.
• Compliance calendar and exit plan: diarise MISA updates, Commercial Register confirmation, licence renewals, ZATCA obligations, e-invoicing, GOSI, Qiwa, Saudization monitoring, financial-statement filings, shareholders' register changes, manager-authority updates and other recurring obligations, and confirm the transfer mechanics, approvals, valuation process, drag or tag rights, compulsory transfer events, deadlock process, payment mechanics, tax implications and register updates required for exit.

These issues should be resolved before capital is committed, not after incorporation, signing or dispute. The Saudi structure is ready only when the transaction documents, Articles of Association, regulatory approvals, completion mechanics, ownership records, authority controls, employment platform, real estate rights, contracts, compliance calendar and exit mechanics operate as a single legal and commercial framework.

17. What is the main takeaway for foreign investors entering Saudi Arabia?

Saudi Arabia's investment framework gives foreign investors a clearer entry route. The legal and commercial value of that route depends on execution after entry.

A Saudi structure is not ready because investment registration has been obtained. It is ready when the approvals, corporate records, operational platforms, contractual protections, evidence controls and exit arrangements support the business plan in practice.

Footnotes

1. Investment Law (Saudi Arabia), arts 2-4, Ministry of Investment official English translation, accessed 10 June 2026.
2. Investment Law (Saudi Arabia), art 7(2).
3. Investment Law (Saudi Arabia), art 5.
4. Investment Law (Saudi Arabia), art 7(4).
5. Implementing Regulations of the Investment Law (Saudi Arabia), arts 11-13, 15-16, 20-21 and 30, Ministry of Investment official English translation, accessed 10 June 2026.
6. Ministry of Investment, Investor Guide (2026), sections on Investment Registration, Post-Registration Services, Annual Registration Update, Ownership Amendment and Economic Activity Amendment, accessed 10 June 2026.
7. Labour Law (Saudi Arabia), arts 33, 37 and 38, Ministry of Human Resources and Social Development official English materials, accessed 10 June 2026.
8. Companies Law (Saudi Arabia), arts 25, 26-27 and 162, Ministry of Investment official English translation, accessed 10 June 2026.
9. Investment Law (Saudi Arabia), art 3.
10. Investment Law (Saudi Arabia), art 8(2)-(3).
11. Implementing Regulations of the Investment Law (Saudi Arabia), arts 15-16 and 20.
12. Implementing Regulations of the Investment Law (Saudi Arabia), art 13.
13. Ministry of Investment, Investor Guide (2026), sections on Annual Registration Update, Ownership Amendment and Economic Activity Amendment, accessed 10 June 2026.
14. Companies Law (Saudi Arabia), art 139(2).
15. Companies Law (Saudi Arabia), arts 138, 140 and 142.
16. Companies Law (Saudi Arabia), art 25.
17. Companies Law (Saudi Arabia), art 162(2).
18. Companies Law (Saudi Arabia), art 26.
19. Companies Law (Saudi Arabia), art 27.
20. Labour Law (Saudi Arabia), art 33, Ministry of Human Resources and Social Development official English materials, accessed 10 June 2026.
21. Labour Law (Saudi Arabia), art 34.
22. Labour Law (Saudi Arabia), art 37.
23. Labour Law (Saudi Arabia), art 38.
24. Labour Law (Saudi Arabia), art 40(1).
25. Labour Law (Saudi Arabia), art 35.
26. Law of Real Estate Ownership and Investment by Non-Saudis (Saudi Arabia), art 2, Real Estate General Authority official English text, accessed 10 June 2026.
27. Law of Real Estate Ownership and Investment by Non-Saudis (Saudi Arabia), art 3.
28. Law of Real Estate Ownership and Investment by Non-Saudis (Saudi Arabia), art 8.
29. Law of Real Estate Ownership and Investment by Non-Saudis (Saudi Arabia), art 9.
30. Civil Transactions Law (Saudi Arabia), art 95, Ministry of Investment official English translation, accessed 10 June 2026.
31. Civil Transactions Law (Saudi Arabia), art 107.
32. Civil Transactions Law (Saudi Arabia), art 113.
33. Civil Transactions Law (Saudi Arabia), arts 178-179.
34. Investment Law (Saudi Arabia), art 10(2).
35. Law of Arbitration (Saudi Arabia), art 9, Ministry of Investment official English translation, accessed 10 June 2026.
36. Law of Arbitration (Saudi Arabia), arts 49 and 51(1).
37. Law of Arbitration (Saudi Arabia), art 50(4).
38. Law of Arbitration (Saudi Arabia), art 50(1)-(2).
39. Law of Arbitration (Saudi Arabia), arts 52-55.
40. Ministry of Commerce, 'Annual Confirmation of Commercial Registration', official e-service page, accessed 10 June 2026.
41. Ministry of Commerce, 'Ministry of Commerce Clarifies Those Responsible for Preparing and Filing Companies' Financial Statements' (16 December 2025), accessed 10 June 2026.