Key Differences Between Limited Liability Companies and Unlisted Joint Stock Companies


The KSA has seen major reform in recent years around Company law regulations. In 2016, the Ministry of Commerce and Industry (MoCI) issued new rules governing Unlisted Joint Stock Companies (UJSCs).

This article carefully examines the key operational and economic differences between UJSCs and LLCs. It addresses the fundamental matters of minimum share capital, number of shareholders, managers and their liability, relevant lock-in periods, and other pertinent considerations such as submission of annual financial statements and statutory reserves.

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