These cases require meeting specific conditions and obtaining special approval

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Also, the number of founders of the joint-liability company must not be less than two people and not more than five people, and it is established through an incorporation contract. The joint liability company’s articles of incorporation must contain some basic information such as: Names of the founding members. Addresses of founding members. The percentage of each member’s contribution to the capital. Purposes and objectives of the company.

In joint liability companies, profits are distributed based on the shares of shareholders Phone Number Data participating in the business and gains. As for debts, the members of these companies bear unlimited financial responsibility for the debts and financial obligations of the company. In other words, the members of the joint liability companies are personally liable for their debts and obligations, and are required to pay them even after their closure. The Solidarity Company adheres to the laws and regulations in force in the Kingdom of Saudi Arabia. This includes corporate, trade, and tax laws, and other regulating laws related to the company’s activity. The partners of joint-liability companies usually consist entirely of Saudi partners, in accordance with the Saudi system for commercial companies.



Which requires that all partners in a joint-liability company be of Saudi nationality. This is due to the partners in the joint liability company bearing unlimited responsibility for the debts and financial obligations of the company. Saudi law requires this condition to ensure that partners bear personal responsibility, and partners are subject to this law even if they leave the country. Of course, there are exceptional cases in which the presence of foreign partners in joint liability companies is permitted. This is done in accordance with the laws and regulations of the Saudi Ministry of Commerce and Investment and after the approval of the relevant authorities. These cases are also usually related to specific investment areas or projects of strategic importance to the Kingdom.