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Articles Of Association Document Template for Saudi Arabia

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Key Requirements PROMPT example:

Articles Of Association Document

"I need Articles of Association Document for a Saudi technology startup launching in March 2025, with 30% foreign ownership and specific provisions for future funding rounds and employee stock options."

Document background
Articles of Association Document is a mandatory requirement for company formation in Saudi Arabia, serving as the cornerstone of corporate governance and operations. This document must be prepared and filed when establishing any company in Saudi Arabia, whether it's a limited liability company, joint stock company, or other permitted corporate structure. It needs to comply with the Saudi Companies Law of 2015, various Ministry of Commerce regulations, and Sharia principles. The document outlines essential aspects such as capital structure, shareholding patterns, management framework, decision-making processes, and profit distribution mechanisms. It's particularly crucial for foreign investors as it must address specific requirements for foreign ownership and investment regulations. The document requires careful drafting as it will govern the company's entire lifecycle, from formation through to potential dissolution.
Suggested Sections

1. Parties: Details of the founding shareholders/partners including their names, nationalities, addresses, and identification details

2. Background: Context of the company formation and basic intent of the parties

3. Definitions: Definitions of key terms used throughout the document

4. Company Formation: Declaration of company establishment, type, and name

5. Company Objectives: Detailed description of permitted business activities and scope

6. Capital and Shares: Details of company capital, share distribution, and share classes

7. Share Transfer Restrictions: Rules and procedures governing the transfer of shares

8. Management Structure: Composition and powers of the board of directors or managers

9. Shareholder Meetings: Procedures for general and extraordinary meetings

10. Financial Affairs: Financial year, accounts, auditing, and profit distribution

11. Reserved Matters: Decisions requiring special approval or voting thresholds

12. Termination and Liquidation: Procedures for company dissolution and liquidation

Optional Sections

1. Preemptive Rights: Used when shareholders want specific rights for new share issuances

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

3. Drag-Along Rights: Include when majority shareholders want power to force minority participation in sales

4. Non-Competition: Used when restrictions on shareholder business activities are needed

5. Shareholder Loans: Include when shareholders may provide financing to the company

6. Executive Committee: Used for larger companies requiring additional management structure

7. Foreign Ownership Provisions: Include when foreign shareholders are involved

8. Sharia Compliance: Used when specific Islamic finance or operation provisions are required

Suggested Schedules

1. Schedule 1 - Initial Shareholders: Detailed list of founding shareholders with their shareholding percentages

2. Schedule 2 - Share Capital Details: Breakdown of share classes, rights, and capital contributions

3. Schedule 3 - Business Plan: Initial business plan and objectives (if required)

4. Schedule 4 - Reserved Matters List: Detailed list of matters requiring special approval

5. Appendix A - Shareholder Contact Details: Contact information and addresses for official notices

6. Appendix B - Company Branch Locations: List of approved company branches and operations locations

7. Appendix C - Initial Board Members: Details of initial board members or managers with their roles

Authors

Alex Denne

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

Relevant legal definitions
Clauses




















































Relevant Industries

Manufacturing

Trading

Technology

Financial Services

Professional Services

Real Estate

Healthcare

Education

Retail

Construction

Energy

Transportation

Hospitality

Agriculture

Mining

Telecommunications

Relevant Teams

Legal

Corporate Governance

Compliance

Executive Leadership

Board of Directors

Corporate Affairs

Finance

Risk Management

Investment

Strategy

Company Secretariat

Relevant Roles

Chief Executive Officer

Managing Director

Company Secretary

Legal Counsel

Corporate Lawyer

Compliance Officer

Board Director

Chief Financial Officer

Corporate Governance Officer

Investment Manager

Risk Manager

Shareholder Relations Manager

Business Development Director

Strategy Director

Company Registrar

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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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