Professional partnerships: implementing rules issued: foreign participation in Saudi firms allowed

Article Abstract:

Saudi Arabia's Commerce Ministry in Jul 1993 issued new rules that permit foreign professional firms to form partnerships with Saudi firms. This new Professional Partnerships Regulation is limited to four professions: consulting engineering, accountancy, medicine and law. Foreign firms must satisfy several criteria such as not allowing the Saudi partners' share of capital to be less than 25%. No minimum amount of capital is required. The accounting and consulting engineering professions will probably be far more affected than law and medicine.

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New partnership regs raise questions

Article Abstract:

Saudi Arabia's Professional Partnership Regulations allow foreign lawyers, engineers and accountants to be licensed to practice in Saudi Arabia. The regulations outline the procedures for forming a partnership, the methods of handling profits and the professional responsibilities of partners. These regulations raise questions regarding the significance of the term 'specialist,' the meaning of the phrase 'professional partnerships' and the conditions imposed by the Ministry of Commerce.

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Export subsidies, intellectual property, trade barriers, workers' rights

Article Abstract:

Saudi Arabia is enforcing economic policies and practices which were waived during the Persian Gulf War. Policies are described regarding export subsidies, intellectual property, trade barriers, and workers' rights.

Usage, Intellectual property, International trade regulation, Export subsidies

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