Saudi Company Formation and Company Secretarial
Qualified company secretaries - expertise with practical experience
In the busy and competitive world in which we live, directors’ time is increasingly being devoted to the core activities of the business and inevitably less time and effort is spent on administrative affairs. However, it is important that all directors’ decisions are properly recorded and the correct action is taken. The Registrar of Companies is becoming more and more vigilant in ensuring that proper deadlines are met. Persistent failure to meet these deadlines can lead to fines being levied against the company and, in extreme cases, criminal proceedings being taken against individual directors.
BDO Alamri can ensure that the compliance requirements of the Companies Act and a company’s own Articles of Association are met, both in terms of the filing of statutory forms and the correct drafting of documents to record the actions of directors and shareholders. There are a number of company secretarial tasks which can trap the unwary, in particular maintenance of statutory registers, annual returns, share transfers and dividends.
Delegating complex work to an expert team lets clients concentrate on their core business, secure in the knowledge that they are compliant. Depending on client needs, BDO Saudi can take care of the whole job or just the more complex procedures. Areas where we can provide support and assistance include:
- Accounting reference dates
- Ad-hoc advice on company secretarial procedures
- Appointment and resignation of directors
- Alterations to Articles of Association
- Capital reductions
- Changes of company name
- Company formations
- Directors' meetings and resolutions
- Dissolution and restoration
- Maintenance of statutory records
- Re-registration on change of company status
- Registered office and service address
- Share buy-backs including redemptions; share transfers, issues and allotments; shareholders' meetings and resolutions.
We have developed a specialism in advising and providing services for inward investors on regulatory obligations in the Kingdom of Saudi Arabia and have in-depth knowledge of company law and its interaction with company secretarial aspects. For multi-jurisdiction company secretarial services, BDO Saudi’s Business Services Outsourcing team work with BDO’s Global Outsourcing practice.