This study presents a proposed system for organizing Internet of Things (IoT) in Saudi Arabia. First, an initial list of the proposed legislative system for IoT systems in Saudi Arabia is developed based on articles of laws, legislations, and guidelines of related existing systems of IoT applied in other countries. This study then uses content analysis approach to prepare a preliminary list of the basic aspects of IoT, and lastly Delphi technique is adopted as a basic approach to develop final list of the proposed legislative system for IoT systems in Saudi Arabia. This study identifies five aspects as major requirements for IoT systems. These aspects are ordered according to their importance from perspective of experts as following: Infrastructure, IoT Security, Transparency and IoT Data Quality, and Privacy. This study shows in both rounds of Delphi analysis the consensus of all phrases in all aspects with ratio equal or greater than 80%. The study concludes with number of recommendations including the encouragement of future research to study separately each identified aspect from legal and informational side; and the importance of having implementing regulation or guidelines for the use of IoT and its services in the governmental, private, and third sectors.