Saudi Arabia's new company law entered into force on 19 January 2023. The new law, approved in June 2022, replaces the prior company law issued in 2015. Under the new law, the following main corporate forms are allowed:
- General partnership company;
- Limited partnership company;
- Joint stock company (JSC);
- Simplified joint stock company (SJSC); and
- Limited liability company (LLC).
As compared to the prior law, joint venture companies are no longer allowed, while a new corporate form, SJCS, is…