The Saudi Ministry of Justice announced that it granted licenses to 15 international law firms. It is also currently looking into 15 other license applications for law firms to practice in Saudi Arabia.
The ministry explained that licenses were granted to several companies from the United States and the United Kingdom. The aim is to improve and develop the legal profession and raise the efficiency of its practitioners. It also seeks to improve the business and investment environment in Saudi Arabia.
Applications for licenses to practice law can now be submitted by foreign law firms through the electronic judicial services platform Najiz.sa. Firms can now choose the service of requesting a license to practice law for a foreign law firm. They need to fill out the designated forms and attach the required documents.
Dr. Walid Al-Samaani, Saudi Minister of Justice; and Engineer Khalid Al-Falih, Saudi Minister of Investment, handed over the first 3 foreign law firms their licenses to practice the profession in Saudi Arabia. The ceremony happened during the International Judicial Conference held in Riyadh earlier this year.
Kirkland & Ellis opens its regional headquarters in Riyadh
Kirkland & Ellis is the largest international law firm in the world by revenue. It employs 3,500 lawyers in the U.S., the U.K., Europe, and Asia. Opening its regional headquarters in Riyadh is part of the firm’s international expansion plans.
This step is fully supported by the Ministry of Investment’s Regional Headquarters Program and the Royal Commission for the City of Riyadh. As such, the Ministry of Justice granted the firm a license to practice law in the kingdom.
Al-Falih said: “The kingdom continues its tireless endeavor to provide investment opportunities that are attractive to investors from all over the world.”
He added, “The inauguration of Kirkland & Ellis’s new regional headquarters in Riyadh reflects the great importance that leading international companies attach to the Kingdom. It affirms the significantly increasing demand for reputable legal services in the kingdom. Moreover, it supports the business goals of these companies. He added, “We look forward to their contribution to supporting our ambitious national goals.”
Read: The Saudi Cabinet approves a series of new laws
Saudi Arabia attracts top international companies
Kirkland & Ellis’ Executive Committee chairman John Bales said, “Saudi Arabia today is witnessing an unprecedented social and economic transformation, in terms of speed, scope, and magnitude of impact. In light of strong government spending and the high volume of foreign direct investments, the kingdom continues to attract the most prominent companies from around the world. Many of whom are among our company’s prestigious clients.”
He continued, “Kirkland & Ellis ranks first globally in the legal profession in the private equity, mergers and acquisitions, litigation, and legal restructuring services practices. It is a pivotal part of building a Saudi economy based on diversity.
Through the inauguration of our new regional headquarters in Riyadh, we aspire to support our international customer base”.
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