Provisions for Professional Companies Under New Saudi Arabian Companies Law
Explore our New Companies Law Series Below: The new Companies Law of 1443 H. (Law) in Saudi Arabia became effective in January 2023, and companies are now required to change their constitutional documents (Articles of Association, Articles of Incorporation) accordingly. This note highlights changes in the Companies Law of 1443 H. concerning the set up and operation of professional companies (free professions) which were earlier governed under a separate Professional Companies Law of 1441 H. Besides the general provisions of the Companies Law that are applicable to companies engaged in practicing free provisions, and provisions related to the specific company form which the professional company may opt, there are specific conditions that govern professional companies. As the Professional Companies Law