The most important legal news in local newspapers
We in Ben Arafa Law Group Consulting & Legal Legitimacy L.L.C likes to provide you of the most important legal news in the local newspapers for this week, which related to your business and commercial, labor and procedural activities, and accordingly we provide you with the most important news as follows:
Saudi Central Bank “Sama” issues the executive bylaw for updated finance companies law
That is upon its supervisory and control role at the finance sector, and the continuous efforts to support the sector continuity and development.
The updates include regulating the requirements for practicing all finance activities, amending the finance sum which the company may file, in addition to supporting the companies that apply for license through amending the bank bond letter which is required at filing the license application. Also, the update includes revising the regulations concerning the related parties, and pointing out the cases of finance companies license termination.
The executive bylaw for updated finance companies control law supersedes the regulations for organizing small micro-consumption finance companies, and the regulations for practicing tiny finance activity, in addition to amending the regulations for activities that support finance activity.
Legal consequences:
Strict control on finance companies to ensure compliance to laws.
Raising the level of compliance and the regulative requirements of finance companies and establish clear and accurate licensing procedures that lessen legal disputes.
Relieving customer risks through regulating securities and controlling tiny finance activity through clear and flexible rules that support beneficiaries’ protection development.
Ministry of municipality and housing commences issuing the first invoice for white land charges from 1st January, 2026
Ministry of municipality and housing asserts that the issuance of the first invoice for white land and vacant properties invoice in Riyadh will commence from the 1st January, 2026 for the lands which are located at the covered geographical zones.
The ministry points out that the system allows the payer to apply for an additional period for development after the invoice issuance, according to the approved regulations. Also, he may object the invoice in 60 days from the date of notification, while his objection shall be decided in a similar period.
It points out that the charges are applied on the lands which are larger than (5,000) square meters inside the announced zones in Riyadh, upon five groups according to the urban development priority, in 2.5% to 10% of the land value.
The ministry states that the application of charges aims at motivating non-used lands development, limiting monopoly, and increasing property offers, that contributes in marker stability and achieving urban development and quality of life targets.
Legal consequences:
Application of a regulative financial undertaking for white land charges on the lands which are covered by the defined zone starting from 1st January, 2026.
The buyer can apply for development additional period and the right of objection in 60 days, while the authority undertakes to decide it in a similar period.
Ministry of municipality and housing updates the conditions for private educational facilities for regulating establishing and operating national educational facilities
That update aims at:
Regulating the establishment and operation of educational facilities according to the Saudi Construction Code.
Reinforcing educational environment quality and safety standards.
Facilitating investment in the independent education.
Raising level of compliance and treating visual deformity.
Legal consequences:
Application of a binding undertaking on the owners and the establishers of the independent educational facilities for undertaking with new conditions which agree with the Saudi Construction code
The condition of having a license according to the updates regulations before establishing or operating the facilities, with strict control and compliance to the standards of safety and quality.Legal discipline in a case of violation, where the discipline may include halting the license, not renewing it or imposing sanctions.Best regulation of the independent education market that supports controlled investment and raising the level of compliance.
Ministry of environment, water and agriculture launches the service of leasing animal project
The service enable the tenant, whether an individual or business sector to have a permission for leasing animal project during the lease contract or the operational license term.
That service aims at:
Ensuring that the leasing process is made according to the regulations and the standards of the ministry that preserves the rights of the landlord and the tenant and achieves compliance to the laws.
Enabling both the landlord and the tenant to apply electronically for having the lease permission easily and quickly without the need to complicated paper procedures.
Legal consequences:
Documenting and regulating the contracting relationship between the project and the tenant through an approved regulative permission.
Protecting the rights of both parties through regulating the leasing contract by the ministry regulations and the compliance standards.
Decreasing disputes through confirming the tenant regulative capacity and the limitations of his responsibility through the contract / license term.
Reinforcing legality of any operational activity in the animal project and ensuring its compliance with regulations and instructions.
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