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Saudi bankruptcy law offers comprehensive procedures for businesses facing financial distress, aiming to protect creditors while allowing debtors a chance at economic recovery. 1. Preventive Settlement: This procedure enables a debtor to reach an agreement with creditors to settle debts without full court supervision. Conditions for filing a Preventive Settlement application: Stages of the procedure: […]

The Kingdom of Saudi Arabia launched the Premium Residency system under Royal Decree No. (M/106) on April 15, 2019. This initiative is part of “Saudi Vision 2030,” with the goal of improving the investment environment, attracting global talent, and offering a new legal residency model as an alternative to the traditional sponsorship (Kafala) system. The […]