The Affidavit of Business Closure is a mandatory legal document required when ceasing business operations in Saudi Arabia. It is used to formally declare the closure of a business entity and certify that all statutory obligations have been fulfilled. This document must comply with Saudi Arabian commercial law and regulations, requiring authentication by a notary public and submission to various government authorities. The affidavit includes comprehensive information about the business, confirmation of settled obligations (financial, employment, tax), and supporting documentation. It serves as a critical tool for business owners and authorized representatives to officially document the termination of their business activities and obtain necessary clearances from Saudi government entities such as the Ministry of Commerce, ZATCA, and GOSI.
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1. Affiant Information: Details of the person making the affidavit, including full legal name, position in the company, and contact information
2. Business Information: Complete details of the business including legal name, CR number, address, and type of business entity
3. Declaration of Authority: Statement confirming the affiant's authority to make declarations on behalf of the business
4. Closure Details: Specific information about the business closure, including effective date and reasons for closure
5. Financial Statement: Declaration regarding the settlement of all business debts, liabilities, and financial obligations
6. Employee Settlement: Confirmation that all employee-related obligations have been fulfilled according to Saudi Labor Law
7. Tax Compliance: Declaration regarding settlement of all tax obligations and obtaining necessary clearances from ZATCA
8. Government Obligations: Statement confirming compliance with all government requirements for business closure
9. Verification: Formal statement verifying all information provided is true and accurate
10. Attestation: Space for notarization and official authentication of the document
1. Pending Legal Proceedings: Section declaring any ongoing legal matters or confirming their absence - required if there are any current or pending legal issues
2. Asset Disposition: Details of how business assets have been or will be disposed of - required for businesses with significant physical assets
3. Branch Closure Details: Information about closure of multiple branches - required for businesses with multiple locations
4. Partner Acknowledgment: Additional declarations from business partners - required for partnerships or multiple-owner businesses
5. Intellectual Property: Statement regarding the status of business intellectual property - required for businesses with registered trademarks or patents
1. Schedule A - Business Licenses and Permits: Copies of all business licenses, permits, and their cancellation status
2. Schedule B - Financial Clearance Certificates: Copies of clearance certificates from ZATCA, banks, and other financial institutions
3. Schedule C - Employee Settlement Documentation: Proof of final settlements with employees and GOSI clearance
4. Schedule D - Asset Inventory: Detailed list of business assets and their disposition status
5. Schedule E - Government Clearances: Copies of clearance certificates from various government departments
6. Appendix 1 - Corporate Documents: Copies of CR, articles of association, and board resolution authorizing closure
7. Appendix 2 - Closure Notifications: Copies of official notifications sent to relevant authorities regarding the business closure
Relevant legal definitions
Clauses
Relevant Industries
Retail
Manufacturing
Services
Technology
Construction
Healthcare
Education
Hospitality
Professional Services
Trading
Real Estate
Transportation
Food and Beverage
Industrial
Agriculture
Relevant Teams
Legal
Finance
Human Resources
Compliance
Operations
Administration
Tax
Audit
Corporate Secretarial
Risk Management
Relevant Roles
CEO
Managing Director
Business Owner
General Manager
Chief Financial Officer
Legal Counsel
Compliance Officer
Finance Director
Company Secretary
HR Director
Operations Manager
Administrative Manager
Tax Manager
Audit Manager
Business Development Manager
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