Your Articles of Association (AOA) outlines the internal rules and regulations governing your company. It acts as a legal contract between your company and its shareholders, defining:
Company Objectives: The primary purpose and business activities your company is authorized to undertake in Saudi Arabia.
Share Capital Structure: Details regarding the types and classes of shares issued by the company, their value, and shareholder rights.
Management Structure: The framework for company management, including the roles and responsibilities of directors, shareholders, and the General Manager.
Meetings and Voting: Procedures for shareholder meetings, voting rights, and decision-making processes.
Amendments: The process for modifying the AOA to adapt to future needs.
Why is it required for Business Entry into Saudi Arabia?
The AOA demonstrates transparency and adherence to proper corporate governance practices. It assures Saudi authorities that your company operates within a defined legal framework.
Steps to Acquire/Provide the Document:
Draft the AOA: Draft your AOA in accordance with Saudi Arabian company law. Consider consulting with a legal professional to ensure compliance and tailor it to your specific business structure.
Notarization: Have the AOA notarized by a public notary in your home country.
Translation and Legalization: Have the notarized AOA translated into Arabic by a certified translator and legalized by the Saudi embassy or consulate in your home country.