Saudi Arabia allows foreigners to run Saudi-owned companies
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.
“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.