Investment Law

In this Law, the following words and phrases shall have the meanings assigned thereto, unless the context requires otherwise: Law: Investment Law. Regulations: Implementing Regulations of this Law. Competent Authority: Any ministry or public agency with an independent legal personality. Ministry: Ministry of Investment. Minister: Minister of Investment. Investment: The use of capital to establish, expand, develop, finance, manage, or partially or fully own an investment project in the Kingdom for the purpose of economic gain. Capital: Any asset which has a material value, whether cash, in-kind, or intangible, as specified in the Regulations, including the following in particular: a) Company shares and interests. b) Contractual rights. c) Fixed or movable assets. d) Intellectual property rights. e) Rights granted under any law, such as licenses, permits, or the like. Capital shall not include loans, bonds, financing sukuk, and public and private debt instruments. Investor: A local or foreign investor. Local Investor: A natural or legal person of Saudi nationality who engages in investment. Foreign Investor: A natural or legal person who engages in investment, and who is not deemed a local investor in accordance with the provisions of this Law. Investment Incentives: The benefits, facilitations, or exemptions granted to an investor to encourage him to engage in investment, in accordance with relevant legal provisions. List of Excluded Activities: A list of activities the investment therein by foreign investors is prohibited or restricted, as provided for in Article 8 of this Law. Recognized Currency: Any currency recognized by the Saudi Central Bank. Investment Law