Appendix (A) Basic Documents Required for Obtaining Initial Approval
| Status: In-Force |
Translated Document
Document Required to be Submitted via LICPayments@SAMA.GOV.SA | Type of Company | |
1. | A letter from the company requesting initial approval, signed by the owner, the Chairman of the Board, or the CEO. | Under Establishment |
2. | A decision from the owners or the Board of Directors supporting the request for initial approval, specifying the authorized person to submit and follow up the request. | Under Establishment |
3. | License Application Form after completion and signature by the applicant. | Under Establishment |
4. | Draft of the memorandum of association showing the names of the owners and their ownership percentages. | Under Establishment |
5. | Draft of the articles of association. | Under Establishment (Joint Stock Companies) |
6. | Fit and Proper Form and its attachments for all major shareholders. | Under Establishment |
7. | Fit and Proper Form and its attachments for the CEO and Compliance Officer. | Under Establishment |
8. | Proof of the minimum required capital. | Under Establishment |
9. | A business plan that includes sufficient explanations of the regulatory and operational aspects. | Under Establishment |
10. | A chart of the company's ownership structure. | Under Establishment |
11. | An Organizational Structure Chart, including details of the Board of Directors structure and senior positions. | Under Establishment |
12. | Proof of reservation of the trade name with the Ministry of Commerce. | Under Establishment |