Companies Law

1. Persons licensed to practice a single profession may incorporate a professional company which may take any of the forms stated in Article 4 of this Law. 2. A person licensed to practice a single profession may incorporate a professional joint-stock company, simplified joint-stock company, or single- person limited liability company to practice his profession. If said person is licensed to practice multiple professions, he may practice all or some of his professions through the company, upon satisfying the conditions and rules specified in the Regulations. 3. A professional company may be incorporated by persons licensed to practice multiple professions, and it may be jointly incorporated by persons licensed to practice one or more professions and a non-Saudi professional company. The Regulations shall specify the conditions for the incorporation of such companies and the rules regulating their activities. 4. A legal person or a natural person who is not licensed to practice any of the professions for which a professional company is incorporated may be a partner or shareholder in a professional company, but may not be a general partner in a general partnership or a limited partnership. The Regulations shall determine the conditions and rules therefor as well as the general rules for managing this form of professional company to maintain the independence of the professional partners or shareholders in practicing their professions.