We are part of a very select group of law firms which have a truly market-leading corporate practice with a wealth of experience in joint ventures in Saudi Arabia. We advise on partnership and alliance agreements and corporate and commercial joint venture agreements.
The objectives and time frames of joint ventures vary from client to client, across sectors and industries. Whether the objective is to access new markets or distribution channels, to further penetrate existing ones, to gain access to intellectual property, technology and know how, or to increase capacity and resource, we can assist on all relevant issues whether the joint venture is for a specific project or on a longer-term basis including negotiating and drafting the documentation, the establishment of the joint venture itself, as well as assisting in any financing that may be required.
We advise on a number of issues in relation to participating in a joint venture. This could be on a jurisdictional specific level – ensuring compliance with national laws, including finance and foreign exchange controls and expatriation of foreign currency, or on a local level – obtaining approval from local government/regulators and central banks.
We advise on establishing the legal obligations surrounding cash or resource commitments, cost allocation, appraisal of invested assets and capital verification, equity/debt ratio, capital contributions and dividend distribution policy; and on operational and senior management – determining who should be given what authority and rights.
Joint Ventures are a core part of our business and we have worked across all of the core sectors in Saudi Arabia advising both regional and international clients on the structuring and implementation of their joint ventures over many different industry sectors. As such we are fully aware of all the local and international issues that may arise, and how best to address them. Some of the best known international names in their respective fields have come to us for advise on their market entry into Saudi Arabia by way of joint ventures.