18 Questions
Which category of companies is no longer recognized under the new law?
Partnership companies
What is the purpose of a Simple Joint Stock Company?
To attract venture capital
Is a minimum capital required to incorporate a Simplified Joint Stock Company?
No, a minimum capital is not required
Partnership” companies are no longer recognized as a category of ______.
companies
The new law has introduced and regulated ______ professional companies.
non-profit
The new law has introduced and regulated a new form of company – a ______, which aims to meet the needs of entrepreneurs and attract venture capital.
Simple Joint Stock Company
Its capital can be divided into ______ shares with a structure given by the Article of Association.
tradable
The chairman and board of directors have the widest powers in the management of the company similar to ______ to achieve purposes set in Saudi Arabia Cabinet Decision No. 678/1443.
Limited Liability Companies
The article 11 of the New Law 2022 allows the binding of joint venture agreements and family charter in the company’s articles of association for the regulation of ______ owned businesses, their governance and administration policy, family members’ employment and the family business’ profits.
family
Sole proprietorship owners are allowed to transfer their assets to any ______ of company.
form
Under the New Law, companies can choose their name based on the ______ of the company.
purpose
The New Law allows companies to choose their name based on the ______ or former shareholders.
current
The New Law allows companies to choose their name based on a ______ of both the purpose and current/former shareholders.
combination
The New Law allows companies to choose their name based on ______ name that complies with Royal Decree No. M15/1420.
other
The New Law provides a wider choice of company name to those who want a specific name in the ______ market.
business
The New Law allows company names to be in languages other than ______.
Arabic
The New Law is governed by the Trade Names Law and Royal Decree No. ______.
M15/1420
The New Law provides a ______ choice of company names.
wider
Test your knowledge on the new forms of companies introduced by the law. Learn about the changes in recognition of partnership companies and the introduction of non-profit professional companies and Simple Joint Stock Companies. Discover how these new entities cater to the needs of entrepreneurs and attract venture capital.
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