言度法义┃涉外资讯:“一带一路”背景下企业出海法律解析之:沙特阿拉伯
作者：微信文章沙特基本投资环境
Saudi Basic Investment Environment
As of 2024, China has established comprehensive strategic partnerships or strategic partnerships with 14 Arab states. The Arab region has become one of the areas with the highest concentration of China's strategic partners globally.In May 2025, President Xi Jinping, in a congratulatory letter to President Rashid of Iraq,the rotating Chair of the Council of the League of Arab States Summit, stated, "China stands ready to work with Arab countries to deepen political mutual trust, advance mutually beneficial cooperation, enhance people-to-people exchanges, pursue our respective paths toward modernization hand in hand, and build a China-Arab community with a shared future at a higher level".
2024年5月30日，中共中央政治局委员、外交部长王毅在出席中国—阿拉伯国家合作论坛第十届部长级会议时表示，首届中阿峰会举办以来，在习近平主席和阿拉伯国家领导人的指引下，中阿命运共同体建设取得明显进展，中阿关系进入了历史最好时期。截至2024年，同中国建立全面战略伙伴关系或战略伙伴关系的阿拉伯国家增加到14个，阿拉伯地区已成为中国战略伙伴最密集的地区之一。2025年5月，习近平主席在向阿拉伯国家联盟首脑理事会会议轮值主席伊拉克总统拉希德致贺信中指出，“中国愿同阿拉伯国家一道努力，深化政治互信，促进互利合作，增进人文交流，在各自现代化道路上携手前行，构建更高水平中阿命运共同体”。
Saudi Arabia has a total population of approximately 32.18 million (as of the end of 2022), comprising approximately 18.79 million Saudi nationals and 13.38 million foreign nationals. It is the largest economy in the MENA region. Having joined the World Trade Organization (WTO) in 2005, it is a member of key international organizations including the World Bank, the International Monetary Fund (IMF), the Gulf Cooperation Council (GCC), the Asian Infrastructure Investment Bank (AIIB), and the Organization of the Petroleum Exporting Countries (OPEC). It is also the sole Arab member state of the G20 and has concluded investment promotion and protection agreements (IPPAs) and double taxation avoidance agreements (DTAAs) with numerous states, including China.
沙特总人口约3,218万，其中沙特籍人口约1,879万，外籍人口约1,338万，是MENA地区（MENA地区是中东<Middle East>和北非<North Africa>的简称）最大的经济体，是世界银行、国际货币基金组织、海湾国家合作委员会、亚洲基础设施投资银行、石油输出国组织等重要国际组织成员，亦是G20中唯一的阿拉伯国家，与包括中国在内的众多国家签署了投资促进与保护协定、避免双重征税协定。
Since the establishment of diplomatic relations, China and Saudi Arabia have witnessed comprehensive and rapid development in their friendly cooperative ties. In 2016, Saudi Arabia launched its "Vision 2030" strategy to accelerate economic reforms and transition from a traditional energy-dependent state to a modern nation with a diversified economy. This initiative has created broad foundations for cooperation and demonstrated strong alignment with China's Belt and Road Initiative. Consequently, bilateral relations between the two countries have been steadily strengthened.
自中沙两国正式建立外交关系以来，双方友好合作，2016年，沙特阿拉伯王国提出了“2030愿景”战略规划，旨在加速推进经济结构的改革进程，促进国家从依赖传统能源的经济模式向经济多元化、现代化的国家转型。该战略与中华人民共和国提出的“一带一路”倡议在理念上高度一致，为两国提供了广泛的合作基础。基于此，中沙两国的关系正日益紧密。
Driven by its "Vision 2030," the Saudi government has undertaken reforms of its legal system, focusing on the codification of laws and the modernization of its legislative, judicial, and enforcement frameworks to enhance judicial efficiency. Key recent codifications in the areas of foreign investment and civil/commercial matters include：
·The new Companies Law: Entered into force in January 2023.
·The Civil Transactions Law: Entered into force in December 2023. This law curtails the scope for judicial discretion previously exercised based on Islamic Sharia principles, thereby enhancing the predictability of civil transactions.
·The Investment Law: Approved by the Ministry of Investment in August 2024 and entered into force in February 2025. This law repeals the Foreign Investment Law promulgated in 2000. It emphasizes equal treatment for local and foreign investors, streamlines investment procedures, expressly prohibits the expropriation of investments except pursuant to a judicial ruling or for reasons of public interest, and strengthens investor rights.
在“2030愿景”的驱动下，沙特政府重点于改革其法律体系，专注于法律制度的成文化，并对既有的立法、司法和执法体系进行现代化改造，以提高司法效率。在国际投资和民商事领域，沙特近期的主要成文立法成果包括：
2023年1月，沙特阿拉伯王国新《公司法》正式施行
2023年12月，沙特阿拉伯王国《民事交易法》正式生效，该法显著缩小了法官依据伊斯兰教法进行自由裁量的范围，提升了民事交易行为的可预测性
2024年8月，沙特阿拉伯王国《投资法》获得投资部批准，并于2025年2月正式施行。该《投资法》取代了沙特阿拉伯王国于2000年颁布的《外商投资法》，着重强调了本地与外国投资者的平等权益，简化了投资流程，明确规定了除非经过司法判决或基于公共利益，否则不得没收投资，从而加强了投资者的权益保护。
沙特新投资法与外资准入要求
Saudi New Investment Law and Foreign Investment Access Requirements
Within the framework of its "Vision 2030" strategy, the Government of Saudi Arabia continues to advance reforms aimed at the codification of its legal system and the refinement of various secular laws, with the objective of providing foreign investors with a relatively stable legal and regulatory environment.The Investment Law ( Royal Decree No. M19/1446, hereinafter referred to as the "New Investment Law") was approved by the Ministry of Investment of Saudi Arabia ("MISA") in August 2024 and entered into force in February 2025.The Implementing Regulations for the Investment Law ( hereinafter referred to as the "Implementing Regulations") were promulgated in February 2025, thereby further augmenting the Saudi Arabian investment legal framework.
在“2030愿景”方案的指导下，沙特阿拉伯政府持续推动法律体系的成文化改革进程，致力于完善各项法律制度，旨在为外国投资者提供更为稳定的投资预期。2024年8月，沙特《投资法》（以下简称“新投资法”，官方编号Royal Decree No. M19/1446）获得沙特投资部（Ministry of Investment of Saudi Arabia，简称MISA）的批准，并将于2025年2月正式施行。紧接着在2025年2月，《投资法实施条例》（以下简称“实施条例”）的发布，标志着沙特投资法律体系的进一步完善。
沙特投资体系
The Saudi Arabian Investment Framework
The New Investment Law, its Implementing Regulations, and the Investor Guide ("Investor Guide") collectively reconstitute the investment framework of the Kingdom of Saudi Arabia. The principal features of the Saudi investment regime under the New Investment Law are as follows:
·National Treatment Principle: The New Investment Law and Implementing Regulations apply uniformly to both domestic and foreign investors, mandating the provision of equal treatment to all investors regardless of nationality.
·Abolition of Foreign Investment Licensing Requirement: Consistent with the National Treatment Principle, the New Investment Law and Implementing Regulations eliminate the requirement for foreign investors to obtain a separate foreign investment license. Instead, a unified registration regime applicable to all investors has been established. The Ministry of Investment of Saudi Arabia ("MISA") is charged with establishing and maintaining a National Investor Registry.
·Provision of Investment Incentives: Subject to compliance with applicable laws, the Competent Authority shall grant investment incentives based on objective and equitable eligibility criteria, as prescribed under the New Investment Law. The Implementing Regulations further stipulate that incentive standards shall be formulated, published, and aligned with the investment type and the objectives of the New Investment Law.
·Freedom of Investment Principle: Article 3 of the New Investment Law enshrines the fundamental principle of Freedom of Investment. Save for investments in "Excluded Sectors", foreign investors enjoy full investment liberty. Excluded Sectors are categorized into Restricted Sectors and Prohibited Sectors. Pursuant to Articles 15 and 16 of the Implementing Regulations, the Foreign Investment Screening Committee is empowered to determine and periodically update the Excluded Sectors list, which shall be published by the Competent Authority in the Investor Guide.
Furthermore, the New Investment Law and Implementing Regulations provide an express statutory definition of "Capital"、institute provisions for diverse investment dispute resolution mechanisms，and establish tiered penalties commensurate with the severity of violations.
沙特新投资法、实施条例以及《投资者指南》（“InvestorGuide”）共同重构了沙特的投资体系。新投资法下，沙特投资体系的主要特点如下：
投资者同等待遇：新投资法及实施条例同时规范本地投资者及外国投资者，强调为本地及外国投资者提供同等待遇；
取消外资许可证：基于同等待遇原则，新投资法及实施条例取消了针对外国投资者需单独取得外资许可证的要求，调整为与本地投资者一样的登记制度。MISA负责建立全国投资者登记系统，并由其维护；
提供投资激励：根据新投资法规定，在不违反相关法律的前提下，主管部门应根据客观、公平的资格标准向投资者授予投资激励措施。实施条例规定将根据投资类型和新投资法目标制定并公开激励标准；
自由投资原则：新投资法第3条确定了自由投资（Freedom of Investment）的基本原则，除“除外事项”以外，外国投资者可以自由投资。其中，“除外事项”又分为“限制类”和“禁止类”事项。根据实施条例第15条、16条的规定，“除外事项”由沙特外商投资审查委员会制定及更新，并由主管部门在《投资者指南》中予以公布。此外，沙特新投资法及其实施条例亦进一步明确了资本的定义，规定了多元化投资争议解决方式，区分了不同程度的违法后果等。
外资准入要求
Foreign Investment Access Requirements
Pursuant to the Implementing Regulations, foreign investors seeking to engage in activities falling within the "Excluded Sectors" shall submit an application for approval to the Competent Authority, which shall subsequently refer the application to the Foreign Investment Screening Committee.The Ministry of Investment of Saudi Arabia ("MISA") has published the 12th edition of the Investor Guide (2025), wherein Article 7.1.1 stipulates that conducting activities classified under "Prohibited Sectors" without prior authorization constitutes a serious violation.
依据相关法规，外国投资者若欲涉足“除外事项”所列之投资领域，必须向主管机关提交审批申请，并由该机关转呈至外商投资审查委员会。MISA于2025年颁布了第12版《投资者指南》，其中第7.1.1条款明确指出，未经批准从事“禁止类”事项构成严重违法行为。参照MISA发布的第11版《投资服务手册》所载外商投资“除外事项”清单，中国企业若计划在海外投资，特别是在沙特从事石油勘探、钻探及生产活动、安保与侦探服务，以及麦加和麦地那的房地产投资等领域，预计将面临一定障碍。
In the context of the new Investment Law, the 12th Edition of Saudi Arabia's Investor Guide imposes specific registration requirements on investors (particularly foreign investors) seeking to invest in certain sectors. It also establishes thresholds regarding minimum Saudi shareholding percentages, minimum capital requirements, and requisite experience in the relevant business field.Chinese enterprises expanding overseas should further note investment restrictions and additional liabilities applicable to specific sectors and certain types of legal entities in Saudi Arabia.Furthermore, Article 9 of the new Investment Law stipulates that MISA (the Ministry of Investment of Saudi Arabia) may suspend relevant foreign investments on objective grounds, based on national security considerations.Significantly, pursuant to newly enacted Saudi regulations including the Anti-Concealment Law and the Regulations for Rectifying the Status of Anti-Concealment Law Violators, concealment arrangements are strictly prohibited. A concealment arrangement is defined as an agreement or arrangement whereby a person enables an unlicensed non-Saudi individual to utilize a license or permit held in the name of the concealing person to conduct economic activities in Saudi Arabia which the non-Saudi individual is otherwise unauthorized to perform.Violators face severe penalties, including imprisonment for up to five years, a fine not exceeding five million Saudi Riyals (SAR 5,000,000), or both.
在新投资法的框架下，沙特阿拉伯第12版《投资者指南》针对投资者（特别是外国投资者）在特定行业进行投资时，提出了特定的登记程序要求。该指南在沙特方股东的最低持股比例、最低注册资本以及业务领域经验等方面设定了准入门槛。对于计划拓展至沙特市场的中国企业而言，必须留意沙特针对特定行业及特定法人实体类型所施加的投资限制和附加责任。此外，新投资法第9条明确指出，出于国家安全的考量，MISA有权基于客观理由暂停相关外商投资活动。特别值得注意的是，依据沙特新近颁布的《反隐瞒法》（“Anti-Concealment Law”）以及《关于更正反隐瞒法违反者行为的规定》（“Regulations for Rectifying the Status of Anti-Concealment Law Violators”），代持行为将受到严格禁止。对于违反该规定的情形，法律将处以最高五年的监禁、不超过五百万沙特里亚尔的罚款，或两者并处。
沙特外资优惠政策
沙特外资优惠政策
Saudi Foreign Investment Preferential Policies
Saudi Arabia provides policy incentives to investors through the designation of Special Economic Zones (SEZs). The Kingdom currently maintains five designated SEZs, each focusing on developing distinct industries.
沙特通过设定经济特区的方式，向投资者提供政策优惠。目前沙特共设有五个经济特区，分别主推不同的行业发展：
(1) King Abdullah Economic City (KAEC) Special Economic Zone: Automotive Supply Chain;Consumer Goods;Light Manufacturing ;Pharmaceuticals Medical Technologies and Logistics
Incentives：
Corporate Income Tax (CIT) Rate: 5% for up to twenty years;
Withholding Tax (WHT) on Profit Repatriation: 0% WHT applied to the repatriation of profits from the SEZ to foreign investors.
（1）阿卜杜拉国王经济城（KAEC）经济特区重点支持行业：汽车供应链和装配；消费品；ICT(电子照明设备制造)；制药；医疗技术；物流
优惠政策：最长20年5%的企业所得税；将经济特区利润汇回外国适用零预提税
（2）Ras Al Khair Special Economic Zone:Shipbuilding and MRO (Maintenance, Repair, and Overhaul);Offshore Platforms (Rigs) and MRO
Incentives:
Duty Deferral: Zero customs duties on goods within the SEZ (duty deferral mechanism)；
Duty Exemption: Zero customs duties on capital equipment and production inputs；
Flexible Workforce Regulations: Flexible and supportive regulations for the foreign workforce for five years post-investment；
Value Added Tax (VAT) Exemption: 0% VAT applied to goods circulating within the SEZ and between designated SEZ.
（2）海尔哈纳（RasAlKhair）经济特区重点支持行业：造船和其维修、保养和运行；钻井平台和其维修、保养和运行
优惠政策：经济特区内货物零关税递延；资本设备和投入的零关税投资后5年内针对外籍人才的灵活和支持性法规；在特区内和特区之间流通的货物适用无增值税
(3)Jazan Special Economic Zone: Food Processing;Metal Transformation、
Logistics
Incentives:Expatriate Employee Tax Relief, exemption from applicable Saudi taxes for expatriate employees and their dependents residing within the SEZ.
（3）吉赞经济特区重点支持行业：食品加工；金属变换；物流
优惠政策：经济特区内外籍员工及其家属税费豁免
(4) Cloud Computing Special Economic Zone: Cloud Computing Services
Incentives:
Special Tax Regime: Tax treatment aligned with OECD principles, ensuring avoidance of double taxation and applicability to Cloud Service Provider (CSP) operational models;
Cost-Competitive Infrastructure:Access to suitable network connectivity.
Electricity rate of USD 0.05 per kilowatt-hour (kWh) for qualified enterprises;
Expatriate Tax Relief: Exemption from applicable Saudi taxes and fees for expatriate employees and their dependents within the SEZ (including but not limited to payroll-related taxes, income tax implications, and the Dependent Levy);
Unrestricted Data Center Deployment: Authorization to establish and operate data centers anywhere within Saudi Arabia, enabled by the capability to provision cloud services directly from the SEZ.
（4）云计算经济特区重点支持行业：云计算服务
优惠政策：符合OECD原则的特殊税收待遇，避免双重征税并适用CSP运营模式；合适的网络连接和电价，企业可享受0.05美元/千瓦时的电力价格；经济特区外籍员工及其家属税费豁免；随时由该区域提供云计算服务，能够在沙特各地建立和运营数据中心
(5) Riyadh Integrated Logistics Zone (SILZ):Consumer Goods;Computer Components;Pharmaceuticals;Nutraceuticals and Medical Supplies;Aerospace Spare Parts;Luxury Goods;Jewelry and Precious Metals
Incentives:Corporate Income Tax (CIT): 0% CIT rate;
Withholding Tax (WHT) Exemption: Exemption from WHT obligations (subject to meeting specific qualifying criteria);
Remittance Tax Exemption: Exemption from taxes on remittances (subject to meeting specific qualifying criteria);
Tax Relief Period: Guaranteed tax relief period of fifty years;
0% VAT applied to:
Bonded goods held within the zone customs suspension regime
Services performed within the zone
Manufacturing and assembly operations conducted within the zone.
（5）利雅得综合物流特区（SILZ）重点支持行业：消费品、计算机部件、药品、营养和医疗用品、航空航天备件、奢侈品、珠宝和贵金属
优惠政策：企业所得税为零；预提税免税(须符合特定标准)；汇款免税(须符合特定标准)；50年税收减免期；海关暂留货物的增值税豁免；服务或制造和装配的增值税豁免
沙特外资投资之挑战
Saudi Foreign Investment Challenges
法律制度差异
Legal System Disparities
Under Saudi Arabia's theocratic-monarchical system, secular statutes and Sharia law coexist and apply concurrently. Sharia law holds paramount authority in matters of family law and inheritance, serving as the foundational principle for secular legislation and exerting significant influence thereon. Chinese enterprises entering Saudi Arabia must ensure strict compliance with local legal frameworks and understand the impact of Islamic law on Saudi jurisprudence, as well as its implications for their investments and operations. Notably, while Saudi Arabia's sweeping judicial reforms and legislative advancements bolster investor confidence, enterprises must critically assess the practical enforcement and implementation efficacy of these laws. Based on recent project experience, despite extensive statutory modernization, interpretive ambiguities persist due to the absence of authoritative legal interpretations and insufficient judicial precedents, creating material operational uncertainties.
制度法律差异，在沙特阿拉伯，由于其政教合一的体制特征，导致了世俗法律与伊斯兰教法的共存与协同适用。伊斯兰教法在家庭法和继承法领域占据主导地位，并且作为世俗法律制定的基本原则，对世俗法律体系产生了深远的影响。中国企业在拓展至沙特市场时，必须严格遵守当地的法律制度，并深入理解伊斯兰教对沙特法律体系以及企业自身在沙特的投资和运营活动可能产生的影响。特别值得注意的是，沙特正在进行大规模的司法改革和立法进程，这为企业海外投资提供了信心保障。然而，企业在沙特投资时，更应关注司法执行和实际效果。根据近年来的项目实践，尽管沙特不断更新其成文法律，但对相关法律规则的解释尚未形成统一的规范性意见，司法判例和实践经验的不足，使得企业在沙特的投资活动仍面临一定程度的不确定性。
市场竞争风险
Market Competition Risks
The project bidding market places greater emphasis on localization. Saudi clients/project owners explicitly require localization and specific qualifications in their tenders, with some projects showing a preference for contractors collaborating with Saudi local companies during the bidding process. Chinese enterprises typically hold an advantage only in specialized fields where Saudi local companies have not yet developed the necessary qualifications, or in conventional projects where they can offer significantly lower bids than local competitors. For instance, one Chinese enterprise held a pricing advantage during the bidding for a large-scale project but ultimately failed to win the contract due to a low localization rate scoring.
市场竞争风险，项目招投标市场更注重本地化。沙特业主在招标中对本地化和资质具有明确 要求，部分项目会更偏向与沙特本地公司合作参与竞标的承包商。中资企业往往在专业性比较强或沙特本地公司不具备参与资质的竞标项目，或者在常规项目中能给出低于当地企业较多的报价时，才具优势。某中资企业在某大型项目竞标过程中占据报价 优势，最终却因本地化率评分较低而未能中标。同时，在低成本环境下，出海企业的风险应对能力亦将受到削弱。
劳动成本挑战
Labor Cost Challenges
Saudi Arabia's Nitaqat program mandates minimum quotas for Saudi national employment across enterprise tiers. Non-compliance triggers substantial penalties. Additionally, enterprises face elevated operational costs due to comparatively high expatriate employee remuneration structures.
劳动力成本，沙特阿拉伯实施了名为“Nitaqat”的政策，该政策要求各类雇主必须按照规定比例雇佣本国劳动力。Nitaqat制度对雇主具有强制性，违反该制度的企业将面临经济处罚等后果。此外，由于沙特阿拉伯的工资水平普遍较高，对于在该国经营的企业而言，劳动力成本可能构成显著的经济负担。
文化适应要务
Cultural Adaptation Imperatives
Saudi commerce operates within a relationship-driven business culture where trust-based personal connections facilitate transactions. Insufficient cultural literacy impedes navigation of local business norms. While joint ventures with Saudi partners offer market entry pathways, enterprises remain exposed to shareholder disputes arising from operational or cultural misalignment. Critical safeguards include:
·Conducting comprehensive pre-investment due diligence;
·Codifying governance rights, obligations, dispute resolution mechanisms in definitive agreements.
在沙特阿拉伯进行商业活动时，文化差异尤为显著。建立基于相互信任的人际关系对于推动商业交易至关重要。若对沙特文化缺乏深入理解，则可能难以适应当地的商业规则。尽管跨国企业可以通过与本地股东建立合资企业的方式进行商业拓展，但企业仍可能面临因经营理念和文化差异导致的股东间纠纷。因此，在海外投资之前，企业必须进行详尽的尽职调查，并在相关合同文件中明确界定各方的权利与义务，以及解决争议的具体途径。
The implementation of Saudi Arabia's “2030 Vision”is driving a holistic socioeconomic transformation, presenting Chinese enterprises expanding overseas with simultaneous opportunities and challenges. To navigate this landscape effectively and ensure sustainable operations, Chinese investors must undertake proactive strategic planning and conduct thorough due diligence on the regulatory and policy framework as prerequisites for long-term success.
沙特阿拉伯通过实施“2030愿景”战略，正经历着深刻的经济与社会结构转型。在此过程中，中国企业拓展海外市场时既面临着机遇也遭遇着挑战。为了确保在沙特市场的长期稳定发展，中国企业必须预先进行战略规划，深入理解当地的制度与政策环境，并做好充分的准备工作。
●Resources：
The Belt and Road Initiative (BRI) refers to:In March 2013, President Xi Jinping proposed the vision of a global community of shared future; in September and October that year, he raised the initiatives of joining with others to build a Silk Road Economic Belt and a 21st Century Maritime Silk Road (Belt and Road Initiative, or BRI). The Belt and Road Initiative is a creative development that takes on and carries forward the spirit of the ancient silk routes-two of the great achievements in human history and civilization. It enriches the ancient spirit with the zeitgeist and culture of the new era, and provides a platform for building a global community of shared future.
Date Source: Economic and Commercial Office of the Embassy of the People's Republic of China in the Kingdom of Saudi Arabia.
For comprehensive details regarding the Saudi Vision 2030 Initiative, refer to the official Saudi Vision
2030 website (https://www.vision2030.gov.sa/en).
For Eligible Activities under the Regional Headquarters (RHQ) Program Regulations, the principal activities conducted by an RHQ must aim to: (1) enhance the corporate profile of the group in the region, (2) provide strategic oversight and administrative guidance, and (3) support the internal operations of the company, its branches, and affiliated entities within the region, in accordance with Standard Industrial Classification Code 701011 (ISIC4). Eligible Activity Income refers to revenue derived exclusively from such qualifying activities of the RHQ.
Official Saudi Policy Source: Ministry of Commerce of the People's Republic of China official website (www.mofcom.gov.cn).
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