Money Laundering Control Regulations:
These regulations are intended to control all activities of money laundering such as the circulation of the proceeds of criminal or illegal activities and the finance of terrorist activities and organizations.
Dumping control regulation for the GCC States:
These regulations are intended to control all dumping activities against the Kingdom's markets by protecting national trade and industry against foreign industries that try to damage the similar national industries.
Saudi Capital Market Law:
This law is a major qualitative shift in the development of the Saudi Capital Market. The main objective of this law is to restructure this market on new modern basis to enhance attraction of this market and confidence in it to ensure more disclosure, transparency, protection and justice for all.
This act covers all the issues related to the formation, organization, merger, liquidation and dissolution of companies.
Intellectual Property Protection Regulations:
1. Patents: The Saudi patents regulation provide a mechanism for the registration of patents which include any material, manufacturing or production method for natural or artificial persons whether Saudis on foreigners. The patent right remains valid for 15 years and can be renewed for 5 more years.
2. Trademarks: The regulation stipulates that names, words, numbers and shapes used in the trademark must be clear and distinguish the industrial products from other products. It is not permissible to use words, figures or pictures that do not comply with Islamic Sharia or to use the flags or logos of the Kingdom and other countries. A person whose application for the registration for a trademark is rejected has the right to complain to the Minister of Commerce and Industry within sixty days from his information of the rejection.
Commercial Fraud Control Act:
This act was issued to preserve the public health and safety of goods and products and protect people against fraud. The regulation requires every trader to comply in his commercial activities with religion and honor and avoid fraud and cozenage.
This act aims at protecting and encouraging fair competition and fights monopolistic activities that negatively affect fair competition. This act applies to all firms operating in the Saudi markets except those fully owned by the government sector.
The objective of this law is to preserve the rights of employers and employees in the Kingdom and protect their interests in accordance with the domestic and external labor regulations.
Foreign Investment System
The Foreign Investment System issued in 10/4/2000 offers foreign investors many incentives with the aim of encouraging foreign investment in the various development areas. Additionally, foreign capitals in this system have the same benefits and incentives that national capitals have under a system that protects and promotes national industries. Furthermore, the Kingdom has opened the door for foreign investment in many sectors after its accession to the WTO in order to observe the executive regulations of the foreign investment system.