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Transfer of Shares of a Limited Company |
The procedures
are very easy and take very short time.
The buyer of a share (or his/her agent who is
authorised to carry out the transaction through
a Power of Attorney) just
- gets a tax registry
number at the local tax office and
- then signs a Share Transfer
Contract with the seller and they have it
ratified at a notary public.
All other
complementary transactions are carried out by
the company whose shares are subject to a transfer.
1 |
Preparation of the necessary
documents |
The petition
is prepared by the company whose shares are
subject to the transfer.
In the petition;
- The Trade Registry number
of the company,
- the business title of
the company and
- the names of the buyer(s)
and seller(s), respective shares of them and
the corresponding sale prices
are all
clearly shown and the relevant Trade Registry
Office is asked for the approval of the Shareholders
Board Resolution which already ratifies the
transfer. Moreover, the company stamp and signature
of the authorised person should appear on the
petition (Annex
1).
In addition
to the Resolution, the following documents are
also attached to the petition.
1.2 |
Shareholders Board Resolution |
The share transfer can only
be realised provided that it is approved by
the Shareholders Board. In this regard, a Resolution
is to be drawn up and signed by the Board participants.
Thus, the Resolution is also attached to the
petition (Annex
2).
1.3 |
Notarised Share Transfer Contract |
Share Transfer Contract
is a document drawn up by both the selling and
buying parties. After two copies are
drawn up, they should be notarised and then
be attached to the petition (Annex
3).
1.4 |
Declaration of any change in the
authorised person(s) (where applicable) |
If the share
transfer is to cause any change in the authorised
person(s), then the change is also to be declared
to the Trade Registry Office. The relevant documents
are to be attached to the petition.
1.5 |
Notarised Inheritance Certificate
(where applicable) |
If the share transfer is
with regard to the shares of shareholder who
passed away, then a notarised Inheritance Certificate
is also attached to the petition.
1.6 |
Updated Shares and Shareholders
List |
Since the composition of
the shares are about to change, the updated
shares and the shareholders list is also attached
to the petition (Annex
4).
2 |
Submission of the prepared
documents to the relevant Trade
Registry Office |
3 |
Registration by the Trade
Registry Office and announcement
of the transfer in the Trade Registry
Gazette |
Once the share transfer
is announced in the Trade Registry Gazette,
the transfer is finalised.
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