New Prospects for foreign Investors in Saudi Arabia
Aftab Alam,, Mohammad Almotairi and Haseebullah
Department of Marketing College of Business Administration, King Saud University , P.O. Box 2459 Riyadh 11451, Saudi Arabia. firstname.lastname@example.org
Abstract: Saudi Arabia has an oil based economy with strong Government hold economic control Activities. Saudi Arabia holds 25% of the oil reserves the world series proved as the largest exporter of petroleum, and plays a leading role in OPEC, Saudi economy is a planned centrally economy, but there are some private companies in Saudi Arabia but they are strictly controlled and regulated by the Saudi Arab Government. Saudi Arabia allows only Saudi and Gulf cooperation Council nationals to engage in Commercial activities and as commercial representatives, to attract more foreign investors Doing business in the country, Saudi Arabia has recently its formalities and restrictions abroad People and businesses to engage in commercial activities through the joint venture Corporation with Saudi Arabia physical or legal person, its accession to the world trade Organization (WTO). Saudi Arabia was deductible, retail trade, and wholesale liberalized sectors. Permits of Saudi Arabia Foreign investors to establish joint ventures and to maintain the 51% share, foreign partners the requirement of own funds must be in US $ 5.3 million and its share may be increased up to 75 % After 3 years of the date of the contract. For industrial activities are allowed for foreign investors a stranger to 100% of the company and may also trade in the products they produce. Saudi partner in a joint venture is a requirement for any organization or individual practice separate Professions, such as law, medicine, architect and engineers, accounting and financial services And other similar professions .
[Aftab Alam,, Mohammad Almotairi and Haseebullah. New Prospects for foreign Investors in Saudi Arabia. J Am Sci 2012;8(10):228-234]. (ISSN: 1545-1003). http://www.jofamericanscience.org. 34
Keywords: Saudi Arabia, Government, Oil, OPEC, WTO (world trade Organization), Millions, Products, Accounting, Financial, Professional Full Text 34