Documenting Articles of Incorporation for Companies in Saudi Arabia – DAG Law Firm & Legal Consultancy
What is Documenting Articles of Incorporation?
Documenting articles of incorporation is a legal process aimed at legitimizing the establishment of a company by officially registering it with the relevant authorities in Saudi Arabia, such as the Ministry of Commerce and the “Absher Business” platform. This documentation ensures the protection of partners’ legal rights and defines their responsibilities and obligations towards the company and other parties.
The Importance of Documenting Articles of Incorporation in Saudi Arabia:
- Establishing the company’s legal identity: The business entity becomes official and legally recognized.
- Defining responsibilities and authorities: It clarifies the rights and obligations of the partners.
- Facilitating financial and banking transactions: Required for opening bank accounts and signing commercial contracts.
- Protecting partners from future disputes by clearly defining shares and commitments.
- Ensuring compliance with Saudi regulations, such as the new Companies Law issued by the Ministry of Commerce.
Steps to Document Articles of Incorporation in Saudi Arabia:
1. Drafting the Articles of Incorporation:
The document includes essential company details, such as:
- The company name and its business activities.
- Names of partners and their capital shares.
- The method of distributing profits and losses.
- The decision-making mechanism for company management.
2. Electronic Documentation via the “Absher Business” Platform:
- Logging in through the National Unified Access platform.
- Submitting the request for incorporation document verification.
- All partners signing the document electronically.
3. Authentication by the Ministry of Commerce:
- Reviewing the document to ensure compliance with Saudi regulations.
- Issuing an official certificate of incorporation and approving the company.
4. Opening a Bank Account and Paying Registration Fees:
- Using the verified document to complete banking procedures.
- Paying commercial registration and chamber of commerce fees.
5. Issuing the Commercial Registration and Establishment Number in the Insurance System:
- Obtaining an establishment number to officially commence business activities.
- Registering the company with various government entities.
Types of Companies Requiring Incorporation Documentation:
- Limited Liability Companies (LLC)
- Closed Joint-Stock Companies
- General Partnerships
- Limited Partnerships
- Professional Companies
How Can DAG Law Firm Assist You?
- Drafting and preparing company incorporation documents in compliance with Saudi regulations.
- Representing clients in the documentation and official registration process.
- Ensuring full compliance with the Ministry of Commerce and Investment regulations.
- Providing legal consultations on selecting the appropriate legal entity for your business activity.
- Following up on the issuance of commercial registrations and licenses to avoid any legal delays.
Contact DAG Law Firm & Legal Consultancy today to ensure the proper legal establishment of your company with maximum protection and transparency!
