The Limited Company Partnership Agreement is a fundamental document used when establishing a Limited Liability Company (LLC) in Saudi Arabia. This agreement is essential for businesses seeking to operate under Saudi Arabian law while maintaining the benefits of limited liability protection. It becomes necessary when two or more partners (whether individuals or corporate entities) wish to form an LLC, particularly when there's a mix of Saudi and foreign ownership, or when specific capital and management structures need to be formally documented. The document must comply with the Saudi Companies Law 2015 and related regulations, including minimum capital requirements and Saudization policies. It's particularly relevant in cases where partners need to clearly define their rights, responsibilities, profit-sharing arrangements, and management roles while ensuring alignment with both local legal requirements and Shariah principles.
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1. Parties: Identification of all partners, including full legal names, addresses, and nationality
2. Background: Context of the partnership formation and brief description of the business purpose
3. Definitions: Definitions of key terms used throughout the agreement
4. Company Formation: Details of company establishment, legal form, and registration requirements
5. Business Purpose: Detailed description of the company's authorized business activities
6. Capital and Shares: Capital structure, share distribution, and payment terms
7. Management Structure: Appointment of managers, powers, and decision-making processes
8. Partners' Rights and Obligations: Detailed rights and responsibilities of all partners
9. General Assembly Meetings: Procedures for conducting partner meetings and voting requirements
10. Financial Matters: Financial management, profit distribution, and loss allocation
11. Transfer of Shares: Rules and restrictions regarding share transfers
12. Term and Termination: Duration of partnership and conditions for termination
13. Governing Law and Jurisdiction: Confirmation of Saudi law application and dispute resolution mechanisms
14. Confidentiality: Protection of company and partner confidential information
15. Notices: Communication procedures between partners and the company
1. Non-Competition: Restrictions on partners engaging in competing businesses
2. Intellectual Property Rights: Include when company owns or develops significant IP
3. Employee Matters: Include when specific employment policies or Saudization requirements need addressing
4. Islamic Finance Compliance: Include when company engages in financial activities requiring Shariah compliance
5. Future Funding: Include when anticipating future capital increases or external investment
6. Tag-Along and Drag-Along Rights: Include for larger partnerships with potential exit strategies
7. Dead-Lock Resolution: Include when equal partnership exists to resolve management deadlocks
8. Branch Offices: Include when company plans to establish multiple locations
1. Schedule 1 - Initial Capital Contributions: Detailed breakdown of each partner's capital contribution
2. Schedule 2 - Share Distribution: Complete share allocation table with percentage ownership
3. Schedule 3 - Business Plan: Initial business plan and projected financials
4. Schedule 4 - Management Structure Chart: Organizational structure and reporting lines
5. Schedule 5 - Authorized Signatories: List of authorized signatories and their powers
6. Schedule 6 - Reserved Matters: Decisions requiring special approval or unanimous consent
7. Appendix A - Articles of Association: Official Arabic Articles of Association
8. Appendix B - Partner Information: Copies of partners' IDs and corporate documents
9. Appendix C - Commercial Registration: Copy of commercial registration certificate
Authors
Relevant legal definitions
Clauses
Relevant Industries
Manufacturing
Trading
Professional Services
Technology
Real Estate
Construction
Healthcare
Education
Retail
Hospitality
Consulting
Logistics
Energy
Financial Services
Agriculture
Relevant Teams
Legal
Corporate Governance
Finance
Compliance
Business Development
Operations
Risk Management
Executive Management
Administrative
Company Secretariat
Investment
Strategy
Commercial
Relevant Roles
Chief Executive Officer
Managing Director
Legal Counsel
Company Secretary
Chief Financial Officer
Business Development Manager
Operations Director
Compliance Officer
Partner
Board Member
General Counsel
Investment Manager
Corporate Lawyer
Finance Director
Commercial Director
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