Companies Law

1. The following information shall be included in the articles of association of a simplified joint-stock company: a) Company’s name. b) Company’s headquarters. c) Company’s purpose. d) Company’s authorized capital, if any, and its issued and paid-up capital. e) Number of shares; their types and classes, if any; their nominal value; and the rights associated with each type or class. f) Company’s term, if any. g) Company’s management and provisions related thereto. h) Assignment of shares. i) Shareholder meetings and the quorum required for their validity. j) Issuance of shareholder decisions and the quorum required for their issuance. k) Dates on which the company’s fiscal year commences and ends. l) Any other terms, conditions, or information the incorporators or shareholders agree to include in the company’s articles of association that are not inconsistent with the provisions of this Law. 2. The following shall be enclosed with the company's articles of association upon submission of its incorporation application: a) Incorporators’ names, addresses, and nationalities. b) Statement of projected works and expenses for incorporating the company. c) An acknowledgment by the incorporators that the company’s shares are fully subscribed, and a statement of the value of paid-up shares. Companies Law d) A certificate of the amount of paid-up capital issued by a bank licensed to operate in the Kingdom. e) Incorporators’ decision appointing the company’s president, manager, or board of directors, as the case may be, stating their names, nationalities, addresses, and dates of birth. f) An acknowledgment by the incorporators to satisfy all the requirements provided for in this Law which relate to the incorporation of the company. g) A statement or report prepared by an accredited valuer or more indicating the fair value of in-kind contributions, if any, and a statement by the incorporators approving the consideration for such contributions.