MCI Requests Opinions of the Public on the Draft law of Professional Companies

17 Mar 2015
​Based on the principle of participation and transparency, MCI invites those interested and the public to express their views and suggestions on the draft of professional companies Law, through its website, before Thursday, 04.07.1436 H, corresponding to 23.04.2015 AD.
MCI stressed that this draft would enable the Saudi professional companies to grow, enter into competition and play a greater role in the national economy, in light of the events and changes witnessed by the liberal professions sector over the past two decades, along with the growing number of professional companies around the world and the liberalization of many of the restrictions on their work in the WTO Member States.
MCI pointed out that the draft of the professional companies law establishes three fundamental changes to the existing system, such as to allow the establishment of professional companies exercising more than one liberal profession, and to approve the establishment of a professional companies that take the form of a Limited Partnership, limited liability companies, closed- joint company, Inc. per person, in addition to the company's corporate form permitted by the applied professional companies system.
The system also allows the participation of non-professional investors in the professional companies, in order to help providing the necessary financing needed for their founding and to ensure continuation.
MCI would like to invite those interested and the public to participate and express their opinions on the draft of Professional Companies law, through accessing this link: Click here.
Last Modified 26 Dec 2018