Explore our New Companies Law Series Below: Provisions for LLC’s under the New Companies Law The new Companies Law of 1443 H. (Law) in Saudi Arabia became effective last month and companies will be required to change their constitutional documents (Articles of Association, Articles of Incorporation). This note highlights major changes and new provisions concerning the limited liability company (LLC), which is the most common form of company in Saudi Arabia: Family Charter / Partners’ Agreement: The possibility to include family charter and partners’ agreements in the Articles of Incorporation (AoI) provides added security and assurance to partners in regard of fulfilment of obligations, smooth management, and transition.1 Single Person LLCs: Unlike the old Law, there are no provisions in

Early 2023 will bring about new changes in The Kingdom’s corporate landscape as the New Companies Law, approved by the Saudi Cabinet of Ministers, comes into effect in January. The new Saudi Company Law 1443 H. / 2022, Issued under M/133 dated 1/12/1443 H., is a comprehensive law that regulates all aspects of formation, management, operation, and liquidation of companies of different types. It is aimed at governing the formation of companies in Saudi Arabia and ensuring that they operate in accordance with the principles of good governance and transparency. It is anticipated that these changes will further strengthen corporations and be more consistent with international standards. This law covers all types of companies and has introduced a new type