Organization : Saudi Arabian General Investment Authority
Facility : Transfer of Ownership to Inheritor
Country : Saudi Arabia
Website : https://sagia.gov.sa/en/InvestorServices/InvestmentServicesGuide/Pages/TransferofOwnershipInheritors.aspx
SAGIA Transfer of Ownership to Inheritor
This service is for firms that are licensed by SAGIA and which one of its shareholders has died and want to transfer the shares to the heirs or successors.
Related : SAGIA Renewal of License for Liquidation Purpose : www.statusin.org/42236.html
Service Documents
** A letter from the firm or decision of the shareholders to amend ownership to successors as a result of demise of a certain partner, this letter should be stamped by the Company stamp only Based on the Arabic version : A letter from the authorized company or corporation stating the requested alteration, and this letter should be stamped by the official company stamp.
** Any proof indicating authority of the applicant.
** Copy of the investment license.
** Approval of the Saudi Industrial Development Fund (SIDF) on the requested modification for industrial projects, or a proof of non-existence of industrial loan.
** A copy of the decree of inheritors / successors together with the original document for verification.
** I.D’s of inheritors / successors as per family documents ( Saudis ) in addition to the passport and resident permit ( foreigners ).
** A letter issued by the court or approved Law Firm stating the legal inheritors / successors and distribution way.
** The modified license shall not be accepted except after submission of original of the previous license.
** Application shall not be accepted when the validity of the license is less than ninety (90) days, while it is the imperative of the firm to apply for renewal of the license under Service No. (06.00).
** Consistency between the total percentage of the Saudi (shareholder / shareholders) and the capital according to the financial limits set forth for the type of activity in Section No. (11.08) of this manual.
Rules & Restriction
** The modified license shall not be accepted except after submission of original of the previous license.
** Application shall not be accepted when the validity of the license is less than ninety (90) days, while it is the imperative of the firm to apply for renewal of the license under Service No. (06.00).
** Consistency between the total percentage of the Saudi (shareholder / shareholders) and the capital according to the financial limits set forth for the type of activity in Section No. (11.08) of this manual.
Financial Fees
** Payment of license fee two thousand (2000) Riyals for modification of the license.
About SAGIA :
Established in 2000, SAGIA was mandated as a central agency for inward investment in Saudi Arabia and to help attract investments to serve the development goals and participate in the diversification of the Saudi economy.
We facilitate introductions for investors to key stakeholders that include access to capital, industrial land, commercial premises and funding support.