Allows 100 per cent foreign ownership of engineering firms

On 7 August 2017, the Cabinet decided to allow foreign companies full ownership of engineering services companies and associated consultancy, provided that the company is at least ten years old and operates in at least four countries. The board of directors of the General Authority for Investment can dispend a company from meeting one of the two conditions.

• Type:

  • Entry and establishment (Ownership and control)

• Industry:

  • Services (Other professional, scientific and technical activities)

• Sources:

  • The official Saudi Press Agency, Vice Custodian of the Two Holy Mosques Presides Over Cabinet session 5 Jeddah, http://www.spa.gov.sa/viewstory.php?lang=en&newsid=1654702, 07 Aug 2017
  • SAUDI ARABIAN GENERAL INVESTMENT AUTHORITY, INTERNATIONAL ENGINEERING COMPANIES IN SAUDI, https://www.sagia.gov.sa/en/mediaandEvents/News/Pages/News07082017_2.aspx#, 07 Aug 2017
  • Reuters, Saudi Arabia to allow full foreign ownership of engineering firms, https://www.reuters.com/article/us-saudi-companies-idUSKBN1AO0XQ, 08 Aug 2017