The Saudi government is intensifying its moves to facilitate the entry of foreign companies into the local market through legislation and regulations stimulating capital.
In this context, the Council of Ministers approved, at the end of October, to amend Article 51 of the Bar Law, enabling foreign offices to provide legal advice, in order to raise the efficiency of the legal environment at the local level.
Last year, the Ministry of Justice approved the executive procedures to regulate the licensing of foreign law firms, which aims to develop the profession, raise its efficiency, and improve the business and investment environment in the country.
In remarks to Asharq Al-Awsat, Lawyer Ahmed Mohammad Al-Ansari underlined the importance of the efforts made by the government in raising the efficiency of the legal profession and strengthening the legal framework, in line with modern Saudi systems and the best international judicial practices.
He noted that the presence of international companies in Saudi Arabia necessitates creating an opportunity for foreign law firms to provide legal advice on international law and non-Saudi regulations, arbitration, mediation and conciliation services.
Al-Ansari explained that based on the Saudi decision, licensed foreign law firms must be of high value and quality, have an international reputation, have been established for 10 years or more, and have representation or partnerships in three or more countries or in five or more regions within one country. They must also commit to transferring knowledge to local practitioners, and conducting business through a professional company established by one or more Saudi lawyers, or by opening one or more branches within the Kingdom.
He continued that the government’s moves will create competition among local legal practitioners, and stimulate professional practice in a way that promotes the profession in the country, which in turn will benefit the business and investment sector and ensure the achievement of the goals of Vision 2030.
