1- 100% Saudi Professional Firms:
Persons authorized to exercise a profession may, amongst themselves, form civil companies that have moral personality.
A-Establishment procedures:
a.Filing of a licensing application to the General Directorate of Companies (Form 1.14) containing:
◦The company's name and purpose.
◦Partners names, their professions and license numbers.
◦Headquarters of the company.
◦Names of managers and those who have the right to sign on behalf of the company.
Attach with the application a copy of the company contract (Form 1.15) signed by all partners.
b.After examination by the Directorate of Companies, according to the Professional Companies Regulations and its executive rules and approval of the contract, the concerned parties shall be referred to the notary public to inscribe the contract in their records and then publish a summarized version in a daily newspaper which is distributed in the area of the company?s main office.
c.Applying once again to the Directorate of Companies to enter the company in the register of professional companies in accordance with the respective form at the Directorate of Companies (Form 1.16) attaching the following documents:
◦Copy of the company's notarized contract.
◦Copy of the newspaper in which summary of the contract is published.
◦Copy of the receipt proving payment of entry fees in the amount of 5000 Riyals for five years.
◦Partners decision designating company manager(s), if they are not included in the contract.
◦Lease contract of the company's headquarters or a copy of the headquarters ownership deed.
◦Copy of the ID of the manager(s) showing profession(s).
◦Valid copies of professional licenses obtained by the partners to practice.
d.The company shall be entered in the respective register in Directorate of Companies, and a certificate thereof shall be issued to the company.
B- If partners desire to open a branch, the following are to be submitted:
a.A decision from partners to open a branch, locating its place, address and appointment of a manager among the licensed to practice the profession.
b.Proof of payment of branch entry fees i.e. (2000 Saudi Riyals).
Courtesy: Ministry of Commerce & Industry, KSA
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TThis English language text is not an official translation and is provided for information purposes only. In the event of any discrepancies between the English translation and the Arabic original, the Arabic original shall prevail.The reader is solely responsible for the use of the information contained herein.
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