Riyadh: Saudi Justice Minister Walid Al-Samaani approved the implementation of regulations for licensing foreign law firms on Thursday.
The new regulations aim to develop law practice, empower lawyers, and boost the business environment in the Kingdom.
The regulations include the requirements for licensing, the scope of practice, the duties of foreign law firms, and the requirements for temporary licenses. It also consists of the mechanism for employing foreign legal advisors.
The regulations focus on training, development, knowledge sharing, and transfer with local law professionals. The new regulation will create an environment of ease and efficiency for foreign businesses and investors.
The regulations also provide a nine-month extension of the grace period for lawyers working with foreign firms under affiliation or cooperation agreements.