DOCUMENTATION
LEGAL DOCUMENTATION
A business consultancy and legal support will be sought upon the initial formation of the partnerships to assist the founder in preparing the following:
- Partnership agreement.
- Memorandum of Understanding.
- SAPD strategy/business plan.
- SAPD structure.
REGISTRATION
The SAPD is officially registered in the United States.
SAPD will be registered in the:
- US Ministry of Commerce.
- Chambers of Commerce in both countries.
- Saudi Ministry of Investment.
The requirements to register an ASPD “branch” in the Kingdom includes:
- Board Resolution.
- A 2021 Budget.
- SAPD Copy of Overseas Registration.
HEADQUARTER
The following is the most suitable:
- SAPD main office in Dhahran, Saudi Arabia.
- Government liaison office in the capital, Riyadh.
- US office in a key business city such as New York and Houston.
Note: The BOD will discuss the shifting of the SAPD headquarters to the Riyadh based “King Abdullah Financial City” upon its completion and operation
CAPITAL
The capital will be:
- Proposed within the strategy.
- Approved by the BOD.
FOUNDER’S ROLE AND RESPONSIBILITIES
Will be:
- Addressed during the board’s first meeting.
- BOD approval required.
BOARD & MANAGEMENT
It is proposed that the Board of Directors be composed of representatives of SAPD key core sectors. As far as management is concerned, it will be dealt with by the BOD as part of discussing
the ASPD Structure during the board’s first meeting