If you want to sell your business or to carry out changes in the ownership of your company in another way or for other reasons – e.g., in connection with being appointed as a civil servant, inheriting a deceased person’s company or admitting new shareholders, then you will need to go through a procedure for transferring the company along with entering the transfer-related circumstances into the Commercial Register (CR). You can prepare and submit the necessary documents either personally or through engaging the services of a lawyer. If you need help, I am at your service – please, read on to find out detailed information about the offered legal service.
You may find below answers to some of the most frequently asked questions regarding the service for transferring ownership in a company:
If you need additional information, please read on to find out more – both general information and links to detailed content on numerous aspects of the different procedures relating to the transfer of companies and carrying out changes in their ownership.
Transfer of companies is a general term which refers to different situations – in terms of both the different types of transfer transactions and the different legal instruments for carrying out the transfer.
Transfer of companies is most often associated with the transfer of company shares or the transfer of a company’s commercial enterprise (or an autonomous part of it, but not with the sale of separate assets). Transfers are usually carried into effect through sale-purchase contracts, but there are no legal barriers for using alternatives, such as contracts for donation or exchange. There is legal succession in other situations as well – upon inheritance or upon the various forms of transformation (which are included in the category of the Transformation of Companies service).
The commercial enterprise is a set of rights, obligations and factual relations and as such it is transferable by a transaction in writing with notarization of signatures and content made simultaneously; transfer needs to be entered into the Commercial Register simultaneously into the files of both the transferor and the transferee.
The company shares represent the participation of the shareholder in a limited liability company as a set of property and non-property membership rights and obligations; the transfer of company shares in a limited liability company is regulated by the law and the respective contract also needs to be concluded with notarization of signatures and content made simultaneously and entered into the Commercial Register.
A standard form application (of Group A – for entering transfers of shares, new shareholders, etc., of Group V – for entering transfers or acquisitions of a commercial enterprise) along with the prepared documents enclosed thereto needs to be filed with the Commercial Register for the purposes of the implementation of the respective transfer procedure. The application may be filed either on paper or electronically (via the Internet) by being signed with an electronic signature – including by a lawyer authorized for such purpose.
There are many specifics in the different procedures relating to the transfer of companies and carrying out changes in their ownership and that is the reason why such procedures have been explained in detail and developed in separate articles – part of the Info Center section of the website. Each article contains detailed information on the stages of implementation of the respective procedure along with complete lists of all necessary documents and applicable costs.
You may find in the right section of the page under Related Procedures a list of all articles published so far in the category of the service described herein, namely: the procedures relating to the transfer or acquisition of shares, stocks and commercial enterprises, as well as the procedure for entry of changes in relation to the termination of a shareholder’s participation in an LLC.
As a lawyer practicing in the field of corporate and company law I have extensive experience in providing legal services in transactions for transfer of companies. In my practice I have had numerous occasions to assist my clients with procedures for transfer of shares and commercial enterprises, but also with other procedures having similar effect, such as shareholders leaving unilaterally limited liability companies or new shareholders being admitted by increasing the capital (see also Filings with the Commercial Register).
Although the articles contain detailed information, there are still many specific elements of the transfer procedures that might remain out of their scope. That is the reason why the website has been designed to allow online discussion of the published articles and posting questions to them – thus aiming to help clarify the respective topics through exchange of information and opinions on related matters of interest to the users.
You may find in the right section of the page under Related Questions a list of the latest questions published in the “Transfer of Companies” category. If you would like to see all questions, please visit the Questions and Answers page and use the available web form to filter the results by the respective category.
If you are not finding the information you are looking for and have additional questions regarding the above described service, please don’t hesitate to contact me via any of the ways listed on the website, including via Viber or Skype. I am at your service and will gladly answer all of your questions so that you can make an informed decision as to whether or not to use the service for transferring ownership in a company.
If you would like to reach me, please use the contact information below or visit the Contact page (there is also a web form on the page that you may use to send me a message).