Saudi Arabia’s Ministry of Commerce and Investment has announced that expatriates will be allowed to run Saudi-owned companies.
According to Saudi media, the announcement was made after the Ministry of Justice had revoked a previous ministerial decision, which states that it is not permissible for a foreigner to manage a Saudi company or grant him any powers through a judicial order to delegate a Saudi citizen’s authorization to a foreigner in this regard.
In this connection, a circular has been issued by Dr. Walid Al Samaani, Saudi Minister of Justice.
The circular stated that the ministry had received a request from Minister of Commerce Majed Al Qasabi, to annul the decision and further allow an expat to run a national company.
Read More: Minister to receive first Covid vaccine in KSA introduces Health Passport
“A working team, which was constituted by the Ministry of Commerce, to study the issue, came to the conclusion that there is no objection in appointing non-Saudis as managers of Saudi-owned companies, as well as in authorizing foreigners to act in place of Saudis for running the companies,” it was stated in the circular.
Leave a Comment