Mechanism for Verifying Partner and Shareholder Identities in Company Establishment and Bylaw Amendments

The Ministry of Commerce, in coordination with SAMA, issued Ministerial Decision No. 632 to implement a standardized mechanism for verifying partner and shareholder identities during company establishment and bylaw amendments. This directive mandates strict identity verification procedures for all limited liability and joint stock companies, ensuring accurate registration when corporate structures are created or modified. The attached decision outlines the specific compliance requirements and operational guidelines that entities must follow to maintain regulatory adherence.