Saudi Arabia is considering a significant policy change that would allow foreign law firms, already licensed to practice in the country, to establish companies fully owned by non-Saudis. This initiative aims to boost foreign investment, as announced by the National Competitiveness Center (NCC).
The NCC shared on its X platform that it is seeking public feedback on a Ministry of Justice proposal to amend the first paragraph of Article 50 of the Kingdom’s Code of Law Practice. The proposed amendment would enable foreign law firms to set up wholly foreign-owned professional companies. These firms would provide legal advice on Saudi regulations and represent clients in court through a Saudi lawyer registered with the practicing lawyers’ registry.
Details posted on the Istitlaa platform indicate that the project aims to advance the legal profession, improve practice quality and efficiency, and integrate global expertise into the local context. Additionally, this move is designed to enhance the Kingdom’s competitiveness, improve its business environment, and elevate the justice system’s efficiency by increasing professionalism within the legal sector.
The initiative is also expected to support Saudi Arabia’s goals of attracting foreign investment, encouraging international companies to move their regional headquarters to the Kingdom, and generating diverse employment opportunities for Saudi citizens, both directly and indirectly.
