
Investors owning
companies in Ireland are allowed to sell the
company’s shares in specific situations. The process implies the
transfer of ownership from one party to another, following the regulations imposed under the
Irish legislation. In this sense, investors will need to conclude certain legal documents and
our team of company formation agents in Ireland can offer assistance and can act on behalf of the
company’s representatives.
Procedures for transferring shares in Ireland
In a
private company in Ireland, the investors may
transfer their shares to another representative of the
company or to another party who is interested in
purchasing ownership rights in the respective legal entity. When
opening a company in Ireland, it is necessary to verify the stipulations related to this matter in the
company’s articles of association or
constitution.
When
selling shares of an Irish company, the
share certificates owned by the
shareholders will be annulled and new certificates have to be issued, stating the new owner.
The transfer will need to include entries in the following documents:
• company’s Minute Book;
• Register of Transfers;
• Register of Members.
The
shares can be
transferred to a
family member of the investor and if this situation applies, it is necessary to complete the
stock transfer form that will require a stamp from the
Revenue Commissioners. At the same time, it is important to know that the regulation is also available in the situation in which the
value of the shares is above
EUR 1,000 and
our team of Irish company formation representatives can provide further details.
Transfer taxes in Ireland
Businessmen who are interested to start the procedure of
company formation may invest here by
purchasing shares in a company that already operates on the local market. During the
transfer of ownership, the
Revenue Commissioners may impose the
stamp duty, but only in the situation in which the
value of the transfer is above
EUR 1,000. If this is the case, the
payment should be completed in a period of 30 days and in the situation of
late payments, the local legislation stipulates a
fixed penalty (of EUR 25.40), with an
interest rate that can range between 10-30%, depending on the period in which the
payment is completed.
Investors are invited to
contact our
Irish company formation consultants for further information on this subject.