Ektisab Law Firm

27/09/2022

EKTISAB's services cross borders.

09/07/2022

02/07/2022

The law regulates all provisions related to companies, both commercial companies, non-profit companies, and professional companies.
Under the law, a new form of company has been created called the ‘simplified joint-stock company’ that meets the needs and requirements of entrepreneurship and venture capital growth.
The new law brings down the statutory requirements and procedures for small, medium, and micro-companies and simplifies the requirements and procedures for establishing companies.
Regarding attracting investment, the law allowed the issuance of different types of shares with varying categories and rights, privileges or restrictions, and the possibility of issuing shares allocated to employees to attract and motivate talent. It also allowed the distribution of profits temporarily or annually with governance that ensures that the company’s creditors obtain their rights.

13/06/2022

We are excited to announce that EKTISAB Law Firm (EKTISAB) and Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO ADDWAEIH) have entered into a legal consultancy agreement.

This agreement will enable EKTISAB to provide an extensive range of high-quality corporate and commercial legal services (litigations, consultations, and legal representation) to support SPIMACO in its business and obtain from EKTISAB experience in the pharmaceutical industry.

04/06/2022

The Zakat, Tax and Customs Authority (ZATCA) has announced the re-launch of an initiative to waive fines and exempt taxpayers from penalties for six months from June 1, 2022, to reduce the economic effects resulting from the COVID-19 pandemic on businesses: https://zatca.gov.sa/en/MediaCenter/News/Pages/news_886.aspx

01/06/2022

The board of the Capital Market Authority approved the amended rules for offering securities and continuing commitments and amended the list of terms used in the regulations and rules of the Capital Market Authority.
The rules are published in the Umm Al-Qura Newspaper: https://uqn.gov.sa/?p=13703

21/05/2022

Saudi Organization for Chartered and Professional Accountants (SOCPA) approved the rules regulating accounting services.
Existing establishments prior to the issuance of this decision are obliged to correct their conditions in accordance with the rules referred to in item (first) of the rules, within a period not exceeding three years from the date of publishing this decision, and in accordance with the corrective mechanism issued by the SOCPA.
The rules are published in the Umm Al-Qura Newspaper, and they come into force six months after the date of their publication.
For more details, visit: https://uqn.gov.sa/?p=13379

15/05/2022

The excellent real estate regulations that have recently been adopted by the Council of Ministers.
A simplified summary of the system, each real estate unit in the Kingdom of Saudi Arabia will have a real estate registry that preserves its history and all the details of the unit and the obligations and rights it has. And it will come into force after (90) days from the date of its publication, i.e. on 13-1-1444 AH.
For more details, visit https://uqn.gov.sa/?p=13158

11/05/2022

Providing a wide range of legal services in many areas of commercial, financial, intellectual property, arbitration, real estate issues, labor issues, and other issues and disputes, where the concept of establishing the office comes through the experience of the partners and their knowledge of the laws and regulations in force in the Kingdom Arabia, we are able to help our clients by providing legal solutions to achieve success in their business and protect their interests.

07/05/2022

Ektisab Law Firm advised China Shandong International Economic & Technical Cooperation Group Ltd “CSI” in its project with NEOM Co. in the Kingdom of Saudi Arabia. We consulted CSI in its contractual relationships with other contractors and suppliers in red sea projects.