The Professional Companies Law provides the opportunity for practitioners to establish a professional company among themselves, such as doctors, engineers, pharmacists, lawyers, etc. In addition, to other free professions, or the participation of non-Saudi professional companies, and it also allowed them to participate in the company with unlicensed persons who are not authorized to practice these professions. The purpose of the company is to practice those professions.
The professional company takes the form of a solidarity company, a joint stock company, a simple partnership company, or a limited liability company
and below we will review the procedures for establishing a professional company in Saudi Arabia, which are as follows:
First: A request to establish the professional company
The application for establishing a professional company is submitted to the Ministry of Commerce and Investment, and the incorporation procedures and controls mentioned in the Companies Law according to the legal form chosen for the company are applied to the application, with the exception of its registration in the Commercial Registry, provided that a copy of the license issued to each partner or shareholder licensed to practice is attached to the application. The free profession is the subject of the company’s professional activity or what indicates obtaining the license, as well as a certified copy of the non-Saudi professional company’s establishment contract and its articles of association and its registration certificate, along with submitting a certified translation of these documents if they are issued in a language other than Arabic, and indicating the approval of the competent authority in the cases that It is necessary to do so.
Second: Registration in the Register of Professional Companies
Any of the partners in the professional company or its managers or their representatives shall submit an application for the registration of the professional company in the register of professional companies to the Ministry of Commerce and Investment within a period not exceeding thirty days from the date of completing the necessary requirements of establishing the company according to its legal form.
With regard to a professional shareholding company
any of the shareholders, members of the board of directors, or their representatives shall submit an application for registration in the registry to the Ministry of Commerce and Investment within a period not exceeding thirty days from the date of the ministry’s decision announcing the incorporation.
Attached to the application for the registration of the professional company in the register is a copy of the establishment contract of the professional company and its articles of association – as the case may be -, the names and addresses of the partners, shareholders, directors or members of the board of directors, their professions, nationalities, means of contact with them, and the name and address of the competent authority in the domicile of the non-Saudi professional company And the means of contacting them
In addition to
in addition to any documents or data required under the Professional Companies Law, its implementing regulations, or the Companies Law, and any other documents or data required by the Ministry of Commerce and Investment, and the professional company must pay the financial fee for registration in the register.
The professional company must inform the competent authority in the free profession, the subject of its activity, of its registration in the registry, within thirty days from the date of registration, and provide it with a copy of its articles of incorporation and articles of association – as the case may be – and a certificate of registration in the registry, and this applies to any amendment or change.
Third: The declaration of the professional company’s articles of incorporation and articles of association
The declaration of the articles of incorporation of the professional company and its articles of association – as the case may be – and any amendment to any of them shall be in accordance with the provisions stipulated in the Companies Law according to the legal form of the company, where the Companies Law requires that the partners, managers of the company or members of the board of directors – as the case may be – declare the articles of association. The company, as well as the articles of association of the joint-stock company, and the amendment that occurs to them on the website of the Ministry of Commerce and Industry. The Ministry may collect a fee for its services in the declaration of the Articles of Association and the Articles of Association of the company and the amendment, issuance and ratification of the extract. The ministry must provide the company with one or more copies of the articles of incorporation and the articles of association of the company after ratifying it with the benefit of the declaration
To request free legal advice from a corporate lawyer in Riyadh regarding the establishment of professional companies in the Kingdom of Saudi Arabia and to take all necessary procedures to establish the company, to be registered in the register of professional companies, the month of incorporation
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