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The challenge:
Diligencia was tasked with conducting an asset trace on a company and its owner in Saudi Arabia, including gathering information on the company’s assets.
After consultation with our client, the scope was defined to cover the following key areas:
- Company: Commercial registration, shareholder information, subsidiaries, real estate, banking, litigation and media checks.
- Owner: Director-shareholder searches, real estate, banking, litigation, media checks and discreet source enquiries regarding personal and business assets.
The solution:
A team of experienced business analysts from Diligencia was assigned to the project. They began by gathering data from official company registers, followed by in-depth media research in Arabic and English, and concluded with local source enquiries through our network partners in Saudi Arabia.
The result:
After thorough research, the team delivered detailed insights to our client into the assets and legal status of both the company and its owner. The key findings are summarised as follows:
- Company structure: The business is a Sole Proprietorship owned by the individual, currently under administration by the Riyadh Commercial Court.
- Director-shareholder: The individual is the proprietor and general manager of the company, which operates under four additional trade names. They also serve as a director and shareholder in five other organisations.
- Subsidiary search: No subsidiaries or affiliated entities were located in Saudi Arabia.
- Banking: Both the company and the individual maintain banking relationships with multiple financial institutions.
- Family scandal: Media research uncovered a family connection to a well-publicised corruption scandal in India.
- Global compliance: No compliance issues were identified during global checks.
- Real estate: The company does not own any property in the country, but the individual is listed as the owner of several frozen assets.
- Litigation: Two ongoing commercial cases involving the company were identified.
- Assets abroad: No evidence of assets outside Saudi Arabia was found.
The detailed findings were presented in a comprehensive 24-page report, providing the client with a clear understanding of the company and owner’s financial and legal position.