Our team were able to establish many local companies through the Ministry of Commerce or the Ministry of Investment with regards to non-Saudi investors. This included many procedures, the most important of which, is drafting and documenting the articles before a notary public and carrying on all other procedures related to opening a file at the Labor Office, Social Security and General Authority for Zakat, Tax and Income. Notwithstanding the completion of procedures related to obtaining the necessary licenses from the municipality and civil defense. Those companies varied in their activities, from commercial, industrial, pharmaceutical, to contracting, technical, retails and other fields of investmentsAl Rasana team had also played a distinguished role in drafting the articles of a number of joint stock companies and in following up the completion of adopting of articles related to the basic system of those companies. Their role was not limited to establishing those companies, but went beyond that to providing governance services of them to many of our clients as follows:
• Preparing the company’s governance regulations • Formulating key policies • Formulating the company’s governance development plans • Following up the implementation of corporate governance • Providing professional training to board members regarding board governance matters • Training the permanent secretary of the board of directors & secretaries of the sub committees • Drafting the articles of association of the company • Following up the adoption of the company’s articles of association with the competent authorities • Drafting the charter of the board of directors & of the sub-committees • Formulating the powers matrix (the authority delegation table) • Carrying out the secretariat work of the board of directors & the council committees • Preparing the procedures manual for the company’s departments • Drafting a code of conduct for the company’s employees • Preparing the organizational structure in line with best governance practices • Studying & proposing technical solutions to govern the work of the board of directors & committees, nominating a minimum of three technical systems & comparing between them.
Here to provide innovative legal solutions that meet your needs.
