sagia.gov.sa Conversion of Individual Firms into a Company Saudi Arabia
Organization : Saudi Arabian General Investment Authority
Facility : Conversion of Individual Firms into a Company
Country : Saudi Arabia
Website : https://sagia.gov.sa/en/InvestorServices/InvestmentServicesGuide/Pages/ConversionIndividualFirmCompany.aspx
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SAGIA Conversion of Firms into a Company
This service is for individual establishments that are licensed by SAGIA, and want to convert the establishment into a company by enrolling :
Related : SAGIA Apply for Cancellation of License : www.statusin.org/42261.html
1- Saudi shareholder or shareholders.
2- New foreign companies.
3- Foreign investors who have licenses from SAGIA.
Service Documents
** A letter from the firm requesting to convert the establishment into a limited liability company, by enrolling shareholders, indicating the trade name for the company, names of the shareholders and shares, authenticated by the Chamber of Commerce.
** An Article of Association signed by the seller (Proprietor of the Establishment) and the buyer (the partner), and attestation of their signatures.
** 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.
** Documents of the new shareholder or shareholders in accordance with the conditions of issuing investment license contained in Services No. (03.01, 03.02, 03.04).
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.
Service Mechanism
** Application is submitted on the website – E-services portal.
** Application is referred to the licensing department after verification of the entirety of the documents submitted.
** Application is referred to the licensing panel for recommendation.
** Application is referred to the Governor for decision.
Financial Fees
** Payment of license fee two thousand (2000) Riyals for modification of the license.
Change of Trade Name
This service is for any firm that has obtained a trade name from the Ministry of Trade and Industry, and wants to modify it in the investment license.
Service Documents :
** A letter from the firm or decision of the shareholders to modify the designation ( Trade Name) of the company or partnering firm, authenticated by the Chamber of Commerce.
** 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.
** Copy of the new trade name reservation with the Ministry of Commerce.
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).