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Ownership Change Request Letter

Ownership Change Request Letter Template for Saudi Arabia

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Key Requirements PROMPT example:

Ownership Change Request Letter

"I need an Ownership Change Request Letter for my Saudi-based manufacturing company to transfer 30% ownership from current shareholder Ahmed Mohammed to new shareholder Khalid Abdullah, with the transfer to be completed by March 15, 2025."

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Document background
The Ownership Change Request Letter is a crucial document in Saudi Arabian business operations, required whenever there is a proposed change in company ownership structure. This formal communication is mandated by Saudi Arabian commercial law and must be submitted to relevant authorities, primarily the Ministry of Commerce. The document is essential for maintaining accurate corporate records and ensuring compliance with Saudi business regulations. It typically includes detailed information about current and proposed ownership structures, reasons for the transfer, and necessary declarations of compliance with local laws. The letter must be accompanied by supporting documentation such as board resolutions, shareholder agreements, and identification documents. Whether for small private companies or large corporations, this document serves as the initial step in the official process of transferring ownership interests in Saudi Arabia.
Suggested Sections

1. Letter Header: Full business letterhead including company details, date, reference number, and appropriate addressing to relevant authority

2. Subject Line: Clear indication that this is an Ownership Change Request for [Company Name]

3. Current Ownership Information: Details of existing ownership structure, including all current shareholders and their respective shareholding percentages

4. Proposed Changes: Specific details of the requested ownership changes, including new shareholders and their proposed shareholding percentages

5. Reason for Transfer: Brief explanation of the motivation or business reason for the ownership change

6. Compliance Statement: Declaration of compliance with relevant Saudi laws and regulations

7. Contact Information: Details of the authorized contact person for follow-up communications

8. Signature Block: Authorized signatory details and signature, with company stamp

Optional Sections

1. Foreign Investment Details: Required when the ownership change involves foreign investors, including their nationality and investment details

2. Board Resolution Reference: Required when the change is based on a board decision, including reference to the relevant board resolution

3. Power of Attorney Reference: Required when the letter is being submitted by an authorized representative rather than the owner

4. Financing Declaration: Required when the ownership change involves any form of financial lending or security arrangements

5. Related Party Disclosure: Required when the ownership transfer is between related parties as defined under Saudi law

Suggested Schedules

1. Appendix A - Ownership Structure Chart: Visual representation of current and proposed ownership structures

2. Appendix B - Required Supporting Documents Checklist: List of all required supporting documents to be attached with the letter

3. Appendix C - Shareholder Information Form: Detailed information about new shareholders including their identification details and contact information

4. Appendix D - Commercial Registration Details: Copy or extract of current Commercial Registration certificate and relevant details

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

alex.den.21@genieai.co
Relevant legal definitions

























Clauses















Relevant Industries

Manufacturing

Retail

Technology

Healthcare

Financial Services

Real Estate

Construction

Hospitality

Professional Services

Transportation

Energy

Telecommunications

Education

Agriculture

Mining

Media and Entertainment

Relevant Teams

Legal

Corporate Governance

Compliance

Administrative

Finance

Executive Leadership

Corporate Affairs

Shareholder Relations

Investment

Business Development

Company Secretariat

Risk Management

Relevant Roles

Chief Executive Officer

Managing Director

Company Secretary

Legal Counsel

Corporate Lawyer

Compliance Officer

Business Development Manager

Chief Financial Officer

Board Member

Shareholder Relations Manager

Investment Manager

Corporate Governance Officer

Administrative Director

Business Owner

General Manager

Operations Director

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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