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A
number of licensing regulations exist for a number of different cases.
In this page, some of the highlights will be covered.
The
Foreign Capital Investment Law governs the investment of this capital.
It is allowed to take place in development projects excluding petroleum
and mineral extraction projects. It is also to be accompanied by foreign
technical expertise. The Ministry of Industry and Electricity considers
the following as development projects:
·
projects for the development of the manufacturing industry
· development of agricultural production
· health services
· provisional services and projects for undertaking contracts
This
law allows foreign investors to set up a project either exclusively on
their own or as a joint-venture with Saudis.
Additional
information pertaining to this law may be obtained from the Ministry of
Industry and Electricity in Riyadh (telephone: +966 1 477-2722 /
477-6666, fax +966 1 477-5451).
In
the event the project is considered for licence, application ultimately
goes to the Foreign Capital Investment Bureau with all necessary
documentation.
According
to Ministry of Commerce resolution 680, foreign firms that do not use a
Saudi agent and wish to subcontract for service or supply tenders must
register for a licence with that Ministry and establish an office in
Saudi Arabia.
Foreign
firms who are invited to bid on a tender by the Saudi government need to
apply for a licence and establish an office in the Kingdom only if they
are awarded the contract.
Partnerships
with Saudi firms are advisable for foreign companies seeking to
manufacture in the Kingdom or to provide services. Manufacturing
facilities and specific service firms with at least 25% Saudi ownership
qualify for the same concessions (e.g. loans, tax allowances, etc.) as
wholly-Saudi-owned firms.
The
Kingdom of Saudi Arabia is a member of the International Copyright
Agreement which protects all trademarks, patents and copyrights.
According to the Ministry of Information, this agreement is in effect .
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