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Limited Liability Company Agreement

Limited Liability Company Agreement Template for Saudi Arabia

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Key Requirements PROMPT example:

Limited Liability Company Agreement

"I need a Limited Liability Company Agreement for a Saudi Arabian technology startup with three partners (two local and one foreign investor), with an initial capital of SAR 500,000, incorporating specific provisions for intellectual property protection and future funding rounds."

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Document background
The Limited Liability Company Agreement is essential for establishing and operating an LLC in Saudi Arabia. This document is required when two or more parties wish to form a limited liability company under Saudi Arabian law, with the minimum capital requirements and structural elements prescribed by the Companies Law of 2015. It sets out the rights and obligations of shareholders, management structure, profit distribution mechanisms, and operational procedures while ensuring compliance with local regulations and Shariah principles. The agreement is particularly crucial as it provides the legal framework for protecting shareholders' interests, limiting their liability to their capital contribution, and establishing clear governance procedures for the company's operations.
Suggested Sections

1. Parties: Identifies and provides details of all founding partners/shareholders

2. Background: States the intent to form an LLC and any relevant context

3. Definitions: Defines key terms used throughout the agreement

4. Formation and Name: Establishes the company's legal formation and approved name

5. Company Purpose: Details permitted business activities and objectives

6. Capital and Shares: Specifies registered capital, share distribution, and value

7. Share Transfer Restrictions: Sets rules for transferring shares and pre-emptive rights

8. Management Structure: Defines management roles, appointment process, and powers

9. Partners' Meetings: Establishes procedures for general and extraordinary meetings

10. Financial Matters: Covers accounting, auditing, and financial year requirements

11. Profit and Loss Distribution: Details how profits and losses are allocated

12. Duration and Termination: Specifies company term and conditions for termination

13. Confidentiality: Establishes confidentiality obligations

14. Governing Law and Disputes: Specifies Saudi law governance and dispute resolution

15. Notices: Details how official communications should be made

16. General Provisions: Includes standard boilerplate clauses

Optional Sections

1. Foreign Investment Provisions: Required when any partner is a foreign entity, addressing SAGIA requirements

2. Shariah Compliance: Specific provisions ensuring compliance with Islamic law principles

3. Intellectual Property Rights: Required when IP is a significant company asset

4. Non-Competition: Restrictions on partners' competing activities

5. Tag-Along and Drag-Along Rights: Advanced share transfer provisions for sophisticated investors

6. Reserved Matters: Special voting rights or veto powers for certain partners

7. Employee Share Scheme: If the company plans to offer shares to employees

8. Branch Offices: Provisions for establishing branch offices or subsidiaries

Suggested Schedules

1. Schedule 1: Share Capital Details: Detailed breakdown of shareholding structure and contributions

2. Schedule 2: Business Plan: Initial business plan and objectives

3. Schedule 3: Management Procedures: Detailed procedures for management operations

4. Schedule 4: Shareholder Information: Detailed information about each shareholder

5. Schedule 5: Articles of Association: Standard form Articles required by Saudi law

6. Schedule 6: Powers of Attorney: Format for any required powers of attorney

7. Appendix A: Key Business Licenses: Copies of essential permits and licenses

8. Appendix B: Company Policies: Key internal policies and procedures

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Relevant Industries

Retail

Manufacturing

Technology

Professional Services

Real Estate

Construction

Healthcare

Education

Food and Beverage

Transportation and Logistics

Financial Services

Consulting

Import/Export

Energy

Tourism

Relevant Teams

Legal

Corporate Governance

Compliance

Finance

Risk Management

Operations

Corporate Affairs

Business Development

Investment

Board Secretariat

Executive Leadership

Shareholder Relations

Relevant Roles

Chief Executive Officer

Managing Director

Legal Counsel

Corporate Secretary

Chief Financial Officer

Compliance Officer

Risk Manager

Business Development Manager

Operations Director

Board Member

Company Director

Investment Manager

Shareholder Relations Manager

General Counsel

Corporate Governance Officer

Industries









Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Limited Liability Company Agreement

A Saudi Arabian LLC Agreement establishing company structure, governance, and shareholder relationships under Saudi Companies Law.

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