Al-Ghanim law firm stands out for its experience in dealing with all kinds of legal aspects ofbuying, selling, leasing, disputes resolution andlitigation related to Real Estate (Residential & Commercial) in the Kingdom of Saudi Arabia. We deal with foreign investments, tenantadvice, portfolio, leasing, markets and fund structure. We proudly offer services to property developers, occupiers, builders and investors.We take pride in serving our clients by making them understand the covenant as both landloard and tenant need incessant advice to ensure ‘Pactasuntservanda’.
The Foreign Ownership of Real Estate Regulation (enacted by Royal Decree No. M/15 dated 17/04/1421H, corresponding to 19 July 2000) regulates the acquisition by foreign, non-GCC nationals, of real estate in Saudi Arabia. Under this regulation, the ownership and investment in real estate by a foreign investor is permitted, subject to obtaining a foreign investment licence from the Saudi Arabian General Investment Authority (‘SAGIA’).Moreover Al-Ghanim law firm has a vast experience with Saudi Arabian General Investment Authority (SAGIA) and vows to help multi nationals in quest of launching business in KSA. The following initiatve by the Government has open doors for prosperity and goals set as Vision 2030.
“.. appreciated effort in organizing Investment programme in which Saudi Arabia ranked 33 out of 187 Countries”
SAUDI ARABIAN GENERAL INVESTMENT AUTHORITY
Alghanim Law Firm offer integrated services on issues relating to employment in Saudi Arabia. The current changes amid vision 2030 has created vast jobs in multiple sectors around the Kingdom of Saudi Arabia Which can be explored through following services provided by our firm:-
We believe that 21st-century law is a tool that can support our clients’ future and present betterment.The consecutive successes that we were blessed with during our pioneering work at the General Investment Agency (SAGIA), and representing the kingdom at committees, conventions, organizations, and international agencies such as United Nations conference on Trade and Development (UNCTAD) , World Bank, the Organization for Economic Co-operation and Development (OECD), International Centre for Settlement of Investment Disputes (ICSID), World Trade Organization (WTO) . Alghanim Law Firm active participation in reviewing regulations and leading teams in international governmental committees headed by the General Investment Agency in several countries (Switzerland, Russia, Greece, Kazakhstan, Uzbekistan, Tajikistan, Senegal and Canada) along with participants from around the world.
All this was an incentive for us to establish a legal law firm specialized in companies and investment to simplify and facilitate legal procedures for investors in addition to pleading, defending and consultations in the cases of companies and establishments, whether national or foreign investment in the Kingdom of Saudi Arabia.
Our focus is on realizing what is crucial to our clients now and for future so we can anticipate obstacles and occasions in their space thus smoothing the way forward. We ensure that our clients are prepared with winning legal tactics and strategies as they circumnavigate the exciting and challenging times we live in, especially from a legal standpoint. Our ability to do this comes from these working philosophies:
Alghanim law firm stands out for its experience in dealing with all kinds of legal aspects of buying, selling, leasing, disputes resolution and litigation related to Real Estate (Residential & Commercial) in the Kingdom of Saudi Arabia. We deal with foreign investments, tenant advice, portfolio, leasing, markets and fund structure. We proudly offer services to property developers, occupiers, builders and investors.We take pride in serving our clients by making them understand the covenant as both landlord and tenant need incessant advice to ensure ‘Pacta sunt servanda’.
The Foreign Ownership of Real Estate Regulation (enacted by Royal Decree No. M/15 dated 17/04/1421H, corresponding to 19 July 2000) regulates the acquisition by foreign, non-GCC nationals, of real estate in Saudi Arabia. Under this regulation, the ownership and investment in real estate by a foreign investor is permitted, subject to obtaining a foreign investment license from the Saudi Arabian General Investment Authority (‘SAGIA’). Moreover Alghanim law firm has a vast experience with Saudi Arabian General Investment Authority (SAGIA) and vows to help multi nationals in quest of launching business in KSA. The following initiative by the Government has open doors for prosperity and goals set as Vision 2030.
“.. appreciated effort in organizing Investment programme in which Saudi Arabia ranked 33 out of 187 Countries”
SAUDI ARABIAN GENERAL INVESTMENT AUTHORITY
Alghanim Law Firm has vast experience in dealing with following aspects:-
It also includes litigation, debt settlement cases, and enforcement matters under the legal ramifications. Our advisors have the understanding of the key elements in commercial agreements. Our advice covers the basic requirements as well as standard terms and conditions with regards to all kinds of agreements. Preparing and drafting all contracts, agreements, and memorandums of understanding, review and proofreading to the best of client’s satisfaction including contracts of sale and purchase, construction, contracting, supply, IT, and communication. Apropos, we strive to our best of abilities by adding value to our clients’ accomplishments.
Alghanim Law Firm is focused to help clients achieve their goals and reach the objectives in a very efficient way.
Salients of New Company Regulations – After November 2015 the council of Minister of Saudi Arabia approved the long awaited new regulations of companies (the new Company Regulations), which significantly updated the law applicable to corporations in the Kingdom. The New company regulations replace the previous regulations for companies (old Company Regulations) and were published in the official gazette (Umm Al Qurra) on 22/1437H (4 December, 2015). All companies are now required to comply with New Company Regulations. The Ministry of Commerce and Industry published the templates of the constitutional documents of each company type and together with (CMA) the rules for implementing the new Company Regulations.
The most salient feature of the new regulation include piercing corporate veil from LLC’s, Transfer of LLC Interest, Single Holder LLC & JSC, Additional minority protection rights in JSCs, buy back of shares, Sharia compliance for debt securities issuance, issuance of convertible debt, or sukuk investment, override of preemption right in capital increase, removal of qualification shares requirements in JSc board members, holding companies, decreasing statutory reserves and clearly defined penalties.The New Companies Regulations have changed the regulatory landscape for companies operating in Saudi Arabia in number of key areas.
“.. dedicated effort in conducting and participating a programme to make Saudi Arabia in top ten competitive Nations”
SAUDI ARABIAN GENERAL INVESTMENT AUTHORITY
“.. a very well appreciated contribution in advise and consultation on solar projects and a great team who helped us on Project Agreement with Royal Commission of Jubail& Yanbu”
NATIONAL TRIGENERATION CHP COMPANY,NTCC, RIYADH, KSA
Alghanim Law Firm recognizes that FDI will continue to play a leading role in global economic development in general and Saudi Arabian economic development in particular. In KSA, Foreign Direct Investment was nearly 2000.00 US Million in 2019. The figures are expected to increase in year 2021 when the pandemic turmoil will be over. Thus in long-term, the Saudi Arabia Foreign Direct Investment – Net Inflows is projected to trend around 2500.00 USD Million in 2021(according to our econometric models).Alghanim Law Firm is dedicated in assisting foreign investors to achieve their investment projects and goals in Saudi Arabia. Alghanim Law Firm specializes in assisting international companies to setup businesses in the Kingdom of Saudi Arabia because of following assured assistance by government of KSA:-
Government Measures to Motivate FDI–
Foreign investors are no longer required to have local partners in a number of sectors and may own property for company activities. They are allowed to repatriate their company money and can sponsor foreign employees, subject to certain criteria in accordance with the Nitaqat (Saudisation) programme. In order to facilitate investments in the Kingdom, the Saudi Arabian General Investment Authority (SAGIA) has set up an Investment Services Centre (ISC). The ISC will decide to grant or refuse a license within 30 days of receiving an application from an investor. Finally, the Saudi Centre for commercial arbitration has been created, which assures foreign investors an inexpensive fee in case of commercial arbitration.
The Saudi government launched Saudi Vision 2030, an ambitious development program that foresees important opportunities for foreign investors in the sectors of education, housing, health, energy and many others. In 2016, Saudi Arabia authorized the acquisition of 100% of assets by foreign investors in retail and wholesale trade. A privatization program has also been launched. The government also tries to attract FDI in the sectors of renewable energy and entertainment.
“… commendable work on Frame work Agreement of Trade preferential System among the OIC member States, Pretas protocol, and Rules of Origin”.
SAUDI ARABIAN GENERAL INVESTMENT AUTHORITY (SAGIA)
“… a vast set of expertise with AGLF, it was such a pleasure to experience such commendable services”
SAUDI ARABIAN GENERAL INVESTMENT AUTHORITY (SAGIA)
“… A remarkable achievement on being part of the Investment Policy”.
HEAD OF TRADE AND COMPETITIVENESS GLOBAL PRACTICE, VIENNA, WORLD BANK GROUP
Alghanim Law Firm has an excellent repute in the emerging market of Saudi Arabia and continues to expand in the expertise of commercial litigation and alternative dispute resolution, with an expertise in Arbitration, mediation and negotiation. The followed procedures are well designed to be more fruitful, robust,less costly and covers a large range of sectors.Our services include all kinds of dispute resolution in commercial and residential dealings like breach of contract, property disputes, legal advisory,breach of partnerships, shareholders’ issues, arbitration, and other client-specific issues. Provision of integrated legal study over client’s legal position in case the client is willing to file a lawsuit or to follow-up on a case against a client and to evaluate the points of strengths and weaknesses to ensure winning the case.
“… Alghanim Law firm has dealt litigation and represented us to recover a large sum of receivables from payment defaulters. We were able to receive a considerable amount which was lost and was treated as bad debts. However, AGLF made possible to recover a well deserved sum back to the company”.
INTELLIGENT ENERGY SOLUTIONS, A SUBSIDIARY OF NTCC, RIYADH KSA
Provision of legal and Sharia consultation to the overall client commercial, financial investment, and real estate concerns so as to enable the client to make appropriate decisions and steps according to law and regulations.
“… An Outstanding participation on negotiations on bilateral investments agreements”.
UNITED NATIONS
“… an extra ordinary participation in International Competitiveness forum with over 100 speakers and Heads and Ministers of Major International Companies”.
SAUDI ARABIAN GENERAL INVESTMENT AUTHORITY (SAGIA)
“… An Outstanding work on negotiations on bilateral investments agreements”.
HEAD OF TRADE AND COMPETITIVENESS GLOBAL PRACTICE, VIENNA, WORLD BANK GROUP
