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Company's Articles Of Association Template for Saudi Arabia

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Key Requirements PROMPT example:

Company's Articles Of Association

"I need Articles of Association for a Saudi-owned technology consulting company with 3 founding shareholders, planned for establishment in March 2025, including specific provisions for intellectual property protection and future employee share schemes."

Document background
The Company's Articles of Association serves as the foundational document required for establishing and operating a company in Saudi Arabia. This document is mandatory under the Saudi Companies Law 2015 and must be executed before a Notary Public and registered with the Ministry of Commerce. It outlines the company's structure, objectives, capital allocation, management framework, and shareholder rights, while ensuring compliance with both civil law requirements and Shariah principles. The Articles of Association is essential for company registration, opening bank accounts, obtaining commercial licenses, and serves as a reference point for resolving corporate disputes. It requires careful consideration of various stakeholder interests and must be drafted to accommodate both current needs and potential future developments in the company's operations.
Suggested Sections

1. Introduction: Details of the company formation, including date and parties involved in establishing the company

2. Definitions and Interpretation: Key terms used throughout the Articles and their meanings

3. Company Name: Official name of the company in Arabic and English

4. Company Objects: Detailed description of permitted business activities and operations

5. Company Headquarters: Registered office location and provisions for branches

6. Duration: Term of the company's existence

7. Capital and Shares: Details of share capital, types of shares, and their nominal value

8. Share Transfer Provisions: Rules and procedures for transferring shares

9. Management Structure: Composition and powers of the board of directors

10. Shareholder Meetings: Procedures for general assemblies and voting rights

11. Financial Affairs: Fiscal year, accounts, auditing, and profit distribution

12. Dissolution and Liquidation: Procedures for company dissolution and asset distribution

Optional Sections

1. Preemptive Rights: Used when shareholders should have first right to purchase new shares

2. Tag-Along Rights: Include when minority shareholders need protection in sale scenarios

3. Non-Competition: Add when restrictions on shareholders' competing activities are needed

4. Shariah Compliance: Detailed section when company requires strict Islamic finance compliance

5. Executive Committee: Include for larger companies requiring additional management structure

6. Foreign Ownership Provisions: Required when foreign investors are involved

7. Intellectual Property Rights: Important for technology or brand-focused companies

8. Dispute Resolution: Detailed provisions for handling internal disputes

9. Reserved Matters: List of decisions requiring special majority or unanimous approval

Suggested Schedules

1. Schedule 1: Shareholders Information: Details of initial shareholders and their shareholdings

2. Schedule 2: Share Capital Distribution: Breakdown of share classes and allocation

3. Schedule 3: Board Charter: Detailed rules governing board operations and responsibilities

4. Schedule 4: Business Plan: Initial business plan and objectives (if required)

5. Schedule 5: Shareholder Contact Details: Communication details for official notices

6. Appendix A: Powers of Attorney: Standard form POAs for company operations

7. Appendix B: Share Transfer Forms: Template documents for share transfers

8. Appendix C: Board Resolution Templates: Standard formats for board decisions

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Relevant Industries

Financial Services

Manufacturing

Technology

Real Estate

Healthcare

Retail

Professional Services

Construction

Energy

Transportation

Education

Hospitality

Agriculture

Mining

Telecommunications

Relevant Teams

Legal

Compliance

Corporate Governance

Board Secretariat

Finance

Risk Management

Corporate Affairs

Shareholder Relations

Executive Management

Investment

Business Development

Relevant Roles

Chief Executive Officer

Chief Legal Officer

Corporate Secretary

Legal Counsel

Compliance Officer

Chief Financial Officer

Board Director

Managing Director

Company Registrar

Corporate Governance Officer

Shareholder Relations Manager

Risk Management Officer

Business Development Director

Investment Manager

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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