Recent changes to Saudi Arabia’s Code of Law Practice means that firms are now required to have an established office in the Kingdom or form a partnership with local lawyers in order to operate. This means that many international firms are now setting up shop.
Tom Hanlon commented that transactional and regulatory support work is increasing in demand as the Saudi economy diversifies and develops.
“A lot of legal support is now required for multinational corporations doing business in the region.”
“Dubai and one or two other locations in the Middle East have already been an attractive place for international law firms to set up, but Saudi Arabia with its Vision programme perhaps promises to be the most lucrative and competitive”, given that it has already provided a legal framework whereby “work can be created and engineered from within the region.”
Read Tom’s comments in IBA Global Insight, here.