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.
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. A Saudi and an American Co-Chairpersons will be elected and endorsed by the board, who will appoint the Chief Executive Officer who is proposed to be an American with a Saudi Chief Operating Officer. A third national will be appointed as a Chief Financial Officer and a Saudi-American law firm as a Legal Council.