사우디 회사법상 회사설립 규정의 비교법적 고찰

The Saudi Arabian economy has dramatically been changed with the development of oil industry and industrialization. With the discovery of massive oil resource, huge amounts of oil money have composed of big part in the Saudi Arabian economy. Moreover, Saudi Arabia became the wealthiest nation of the Middle Eastern countries. As getting advantage of the oil money, the Saudi Arabian government, since the 1970, has pursued industrial development. Development of the national economy was based on government’s plan, which the government needed more advanced foreign technology and foreign investment. For this reason, the government made a policy that help the foreigners to invest the Saudi Arabian industries. Also, many foreigners want to expand their entities in Saudi Arabian market. As wishing to conduct business in Saudi Arabia, Foreigners can establish their own company in Saudi Arabia. The general law with regard to formation and governance of companies in Saudi Arabia is the Company Law enacted by Royal Decree No.6, 1965. Under the Saudi Arabian Companies Law, the definition of company is a contract pursuant to which each of two or more persons undertake to participate, in an enterprise aiming at profit, by offering in specie or as work a share, for sharing in the profits or losses resulting from such enterprise. In addition,companies can select any type of forms that are General Partnerships, Limited partnerships, Joint Ventures,Corporations, Partnerships Limited by Shares, Limited Liability Partnerships, Variable Capital Companies,Cooperative Companies. Each company has distinguishing establishment procedure rules in campany law. Although many of Korean companies enter into the Saudi Arabian market, there are few studies which provide the establishment procedure of the Saudi Arabian Company Law. In particular, the amount of trade between Saudi Arabia and Korea has increased sharply with FTA. Thus it is important to study the Saudi Arabian Company Law.