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Confirmation Statement Template for United States

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Key Requirements PROMPT example:

Confirmation Statement

"I need a confirmation statement detailing board meeting attendance, voting records, and compliance with corporate governance policies for the fiscal year 2025, submitted by December 31st, with a summary of any policy changes."

What is a Confirmation Statement?

A Confirmation Statement is a mandatory annual filing that Saudi companies submit to the Ministry of Commerce to verify their business information is accurate and up-to-date. It includes key details like your company's registered address, directors, shareholders, and share capital structure.

Filing this statement helps maintain transparency in the Saudi business sector and keeps your company compliant with the Companies Law. You'll need to submit it within 30 days of your company's anniversary date, along with any updates to your business details from the previous year. Think of it as your yearly check-in with regulators to confirm everything's still correct in the official record.

When should you use a Confirmation Statement?

You need to file a Confirmation Statement every year, starting from your company's registration date with the Ministry of Commerce. The filing window opens 30 days before and closes 30 days after your anniversary date. Many Saudi businesses align this with their annual financial reporting to streamline their compliance processes.

This statement becomes particularly important when your company undergoes changes throughout the year. For example, if you've moved offices, appointed new directors, or altered your shareholding structure, the Confirmation Statement verifies these updates are properly recorded. It's also essential when seeking new business licenses, participating in government tenders, or opening additional branches.

What are the different types of Confirmation Statement?

  • Basic Confirmation Statement: The standard annual filing required for all registered companies in Saudi Arabia, covering core business details like address, directors, and share capital.
  • Amended Confirmation Statement: Used when correcting previously submitted information, requiring additional documentation to support the changes.
  • Group Structure Statement: A more detailed version for corporate groups, including information about parent companies and subsidiaries.
  • Branch Network Statement: Specifically for companies with multiple locations, detailing all registered branches and their operations.
  • Foreign Investment Statement: A specialized version for companies with foreign ownership, requiring extra details about international shareholders and investments.

Who should typically use a Confirmation Statement?

  • Company Directors: Responsible for reviewing and approving the statement's contents before submission to ensure accuracy of company information.
  • Corporate Secretaries: Usually prepare and file the Confirmation Statement, gathering necessary information from various departments.
  • Legal Advisors: Review the statement for compliance with Saudi regulations and verify accuracy of legal details.
  • Ministry of Commerce: Receives and processes the statements, maintaining official records of all Saudi companies.
  • Shareholders: Must be accurately listed in the statement, including any changes to shareholding during the year.
  • Compliance Officers: Ensure timely filing and maintain records of submitted statements for regulatory purposes.

How do you write a Confirmation Statement?

  • Company Details: Gather your commercial registration number, anniversary date, and current registered office address.
  • Ownership Structure: Compile a current list of shareholders with their exact shareholding percentages and any changes from last year.
  • Board Information: Update director details, including appointments or resignations during the past year.
  • Business Activities: Review your licensed activities to confirm they match actual operations.
  • Branch Network: List all active branches and their registration numbers.
  • Supporting Documents: Prepare copies of any board resolutions or shareholder decisions affecting company structure.
  • Digital Access: Ensure your Ministry of Commerce login credentials are active for online submission.

What should be included in a Confirmation Statement?

  • Company Identification: Full legal name, commercial registration number, and unified national number.
  • Registered Address: Current principal office location and any changes during the year.
  • Ownership Declaration: Complete list of shareholders with their nationalities and shareholding percentages.
  • Board Composition: Names and details of all directors, including any changes in the reporting period.
  • Capital Structure: Statement of paid-up capital and any modifications to share capital.
  • Business Activities: List of currently licensed commercial activities.
  • Compliance Declaration: Confirmation of accuracy signed by an authorized representative.
  • Supporting Attachments: Required documentation for any reported changes.

What's the difference between a Confirmation Statement and a Certification Statement?

A Confirmation Statement differs significantly from a Certification Statement in several key ways, though both are important regulatory documents in Saudi Arabia.

  • Timing and Frequency: Confirmation Statements are annual filings tied to your company's registration date, while Certification Statements are event-specific documents issued when particular circumstances require formal verification.
  • Content Scope: Confirmation Statements provide a comprehensive overview of company details and structure, while Certification Statements focus on specific facts, qualifications, or compliance matters.
  • Legal Purpose: Confirmation Statements fulfill ongoing regulatory requirements under the Companies Law, whereas Certification Statements serve as point-in-time attestations for specific business needs, such as bidding processes or regulatory applications.
  • Filing Requirements: Confirmation Statements must be submitted to the Ministry of Commerce, while Certification Statements are typically issued to specific requesting parties or authorities as needed.

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