Legal and Tax environment, challenges and opportunities

Kamal Shukri, Attorney of Hussein Shoukry Law Firm, spoke highly of the business environment in Saudi Arabia and enumerated the possibilities which foreign investors in the country can begin with. He also presented the SAGIA agency (Saudi Arabian General Investment Authority), which is a specialized guide for foreign investors through Saudi Arabian economic and legal environment. For this purpose, there are SMART service centres in the country. “It is good to start with a regional branch office – the investor becomes familiar with the environment and rules. We strictly adhere to the principle of non-discrimination!”

Ahmad Reda, Financial Advisor of Ernest & Young Saudi Arabia, added that there is a free cash flow in the Kingdom and since 2001 until last year the gross national product has increased four times.

Advantages of the Czech legal and tax environment were described by JUDr. Jiří Svoboda, a lawyer ofSvoboda Law Firm, and Ing. Michael Tesařová, a tax advisor of C.P.A. & Tax Partners. According to them, the Czech environment benefits from the membership in the European Union.