A list of founding members or shareholders/partners, the shares they own in the company, and their percentage.
The organizational structure including all necessary departments and functions with their mandates (soft copy).
Fit and Proper Form approved by SAMA for each founding member after being completed, signed by each founding member, and approved by the person authorized to submit the license application (soft or hard copy).
Fit and Proper Form approved by SAMA for each candidate for membership in the board of directors after being completed and signed by the candidate and approved by the person authorized to submit the license application (soft or hard copy).
A feasibility study identifying the targeted market, the services to be offered, the company's business model and strategy, and the three-year business plan.
An irrevocable bank guarantee equal to the minimum capital of the activity issued by any local bank for SAMA and automatically renewed until the capital is paid in full.
As an exception to Paragraph (9) of this Section, the bank guarantee provided to companies that practice the activity only through financial technology must be equivalent to 20% of the minimum capital of the activity, provided that the minimum capital is paid before obtaining the final license.
Draft agreements and contracts proposed with third parties, especially agreements and contracts with related parties and external service providers (soft copy).
