New Prosp
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. [email protected]
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
