The Affidavit of Sole Proprietorship is a fundamental legal document required in Saudi Arabia for individuals operating businesses as sole proprietors. This affidavit serves multiple purposes, including establishing clear ownership records, facilitating business transactions, and meeting regulatory compliance requirements. It is typically required when registering a new business, opening business bank accounts, entering into significant contracts, or dealing with government authorities. The document contains detailed declarations about business ownership, personal liability acceptance, and compliance with Saudi commercial laws. Such affidavits must be properly executed and notarized in accordance with Saudi Arabian legal requirements, and may need to be updated periodically or when significant business changes occur. For foreign business owners, additional declarations regarding compliance with Foreign Investment Law may be required.
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1. Declarant Information: Full legal name, national ID/Iqama number, and contact details of the person making the declaration
2. Purpose of Affidavit: Clear statement of the purpose of the affidavit in declaring sole proprietorship of the business
3. Business Details: Complete information about the business including trade name, Commercial Registration number, and business address
4. Ownership Declaration: Explicit declaration of sole ownership and control of the business, confirming no other persons have any ownership interest
5. Financial Responsibility: Declaration of being solely responsible for all business debts, obligations, and liabilities
6. Compliance Statement: Declaration of compliance with all applicable Saudi Arabian laws and regulations regarding business ownership
7. Verification: Statement verifying all information provided is true and correct
8. Execution: Date, signature of declarant, and notary attestation section
1. Previous Business History: Section detailing any previous business ownership or operations, used when required by specific authorities or for comprehensive disclosure
2. Foreign Ownership Declaration: Additional declarations required if the sole proprietor is a foreign national, addressing compliance with Foreign Investment Law
3. Business Activities: Detailed description of business activities and operations, included when required for specific regulatory or commercial purposes
4. Succession Planning: Statement regarding business succession plans, included when relevant for long-term business planning or regulatory requirements
5. Power of Attorney: Section declaring any appointed representatives authorized to act on behalf of the business, if applicable
1. Schedule A - Identity Documents: Copies of the declarant's identity documents (National ID/Iqama)
2. Schedule B - Business Registration: Copy of Commercial Registration certificate and other business licenses
3. Schedule C - Business Address Proof: Documentation proving business location and ownership/lease of premises
4. Schedule D - Bank Account Details: Business bank account information and related documentation
5. Schedule E - Tax Registration: ZATCA registration documents and tax certificates
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Retail
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Construction
Trading
Manufacturing
Real Estate
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Healthcare
Food and Beverage
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Transportation
Agriculture
Education
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Relevant Teams
Legal
Compliance
Administrative
Finance
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Risk Management
Corporate Governance
Regulatory Affairs
Business Development
Commercial Registration
Relevant Roles
Business Owner
Legal Counsel
Compliance Officer
Company Secretary
Business Development Manager
Administrative Manager
Finance Manager
Operations Director
Risk Manager
Commercial Registration Officer
Regulatory Affairs Specialist
Corporate Governance Officer
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