Partnerships 2019
All QuestionsWhat is the statutory basis for partnerships, and partnership-like structures in your jurisdiction? To what extent do these laws overlap or share features with company law?>>🔗
Partnerships in Saudi Arabia are generally regulated by the Saudi Companies Regulations, issued pursuant to Saudi Arabia Royal Decree Number M3/1437, dated 10 November 2015 (the Companies Law); and the Professional Partnership Regulations, issued pursuant to Saudi Arabia Royal Decree No. M4/1412, dated 29 August 1991 and its implementing resolutions (the Professional Companies Law).
The Professional Companies Law sets out various provisions that are specifically applicable to professional partnership companies (i.e, partnership companies formed among qualified professionals such as lawyers, engineers and accountants). However, the Companies Law applies to professional companies to the extent that it does not conflict with the Professional Companies Law or the nature of professional companies.
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