Explore our New Companies Law Series Below: Closure of Companies Under New Companies Law As companies are set up to carry out economic activities, they sometimes need to be closed down or terminated for a variety of reasons. Understanding the requirements, procedures, and processes for the closure of companies is important for several reasons.  Besides the direct interests of partners and shareholders, there may be other stakeholders whose interests, too, need to be duly protected before the closure of a company or its merger with another entity or division into several entities. The Saudi Arabian Companies Law promulgated vide Royal Decree No: (M\132) dated 01\02\1443 H. along with the Rules of its Implementation (Law), which became effective as of 19