Law of Professional Companies

Release Date:	1441-01-26
Release Tool:	Royal Decree
Issuance Instrument Number:	m/17
Validity:	Cancelled
Summary:	By AI On 25/1/1441 AH, King Salman bin Abdulaziz issued a decree approving the "Professional Companies Law," which regulates companies in which licensed individuals practice a free profession. The law specifies the possible legal forms such as partnership and joint-stock company, and prohibits partners from acquiring the status of a merchant. The law addresses the conditions for establishing and managing professional companies, requiring a license from the Ministry, along with the necessity of registe...

Release Date:

1441-01-26

Release Tool:

Royal Decree

Issuance Instrument Number:

m/17

Validity:

Cancelled

Summary:

By AI

On 25/1/1441 AH, King Salman bin Abdulaziz issued a decree approving the "Professional Companies Law," which regulates companies in which licensed individuals practice a free profession. The law specifies the possible legal forms such as partnership and joint-stock company, and prohibits partners from acquiring the status of a merchant. The law addresses the conditions for establishing and managing professional companies, requiring a license from the Ministry, along with the necessity of registe...