The Declaration of Partnership Affidavit is a crucial document in Saudi Arabian business practice, required when establishing or formalizing a partnership arrangement. This document is particularly important in the Saudi legal system, which combines modern commercial law with Shariah principles. It serves multiple purposes: officially declaring the existence of a partnership, defining the roles and responsibilities of partners, establishing capital contributions and profit-sharing arrangements, and providing a legal foundation for the partnership's registration with relevant authorities. The affidavit is commonly used when registering new partnerships, updating existing partnership arrangements, or when documentation of partnership status is required for legal or commercial purposes, such as opening bank accounts or bidding for contracts.
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1. Title and Date: Official title of the document and date of execution
2. Parties: Detailed information about all partners, including full legal names, nationality, ID/Iqama numbers, and addresses
3. Declaration Statement: Formal opening statement declaring that this is a sworn affidavit made under Saudi law
4. Partnership Details: Essential information about the partnership including business name, type of partnership, and main business activities
5. Capital Contribution: Declaration of each partner's capital contribution and ownership percentage
6. Profit and Loss Sharing: Statement of how profits and losses will be distributed among partners
7. Management Structure: Declaration of management responsibilities and authority of each partner
8. Legal Compliance: Statement confirming compliance with Saudi laws and Shariah principles
9. Attestation: Formal sworn statement by all partners confirming the truth of all declarations
10. Execution: Signature block for all partners and official notarization section
1. Prior Business History: Section detailing any previous business relationship between the partners, used when partners have existing business relationships
2. Foreign Partner Declarations: Additional declarations required when one or more partners are non-Saudi nationals
3. Special Authorities: Section detailing any special management or signing authorities, used when certain partners have specific roles or powers
4. Intellectual Property Rights: Declaration of IP ownership and rights, used when the partnership involves significant intellectual property
5. Zakat Responsibility: Declaration of responsibility for Zakat payments, used when partners have specific arrangements for handling Zakat obligations
1. Partner Identification Documents: Copies of official ID documents, commercial registrations, or other identification documents of all partners
2. Capital Contribution Evidence: Documentation proving the capital contributions made by each partner
3. Business Licenses: Copies of relevant business licenses and permits
4. Partnership Assets Schedule: Detailed list of any assets being contributed to the partnership
5. Power of Attorney: If applicable, power of attorney documents authorizing representatives to sign on behalf of any partner
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Relevant Industries
Retail
Manufacturing
Professional Services
Construction
Trading
Technology
Real Estate
Food and Beverage
Healthcare
Education
Consulting
Import/Export
Transportation
Hospitality
Financial Services
Relevant Teams
Legal
Compliance
Corporate Governance
Finance
Business Development
Operations
Risk Management
Investment
Commercial
Administrative
Relevant Roles
Business Owner
Managing Partner
Chief Executive Officer
Chief Financial Officer
Legal Counsel
Company Secretary
Business Development Manager
Corporate Lawyer
Compliance Officer
Risk Manager
Partner Relations Manager
Investment Manager
Operations Director
Commercial Director
General Manager
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