Company Share Transfer Services in Oman
Company Share Transfer Services in Oman
As the world moves toward a more sustainable economy, so have the methods of investing money. From the beginning of companies owned by a single person, we have progressed to the point where the majority of companies are owned by two or more people who invest money or assets in the company’s growth. As Oman has entered into various free trade agreements with various nationals, company share transfer services are in high demand among investors looking to establish a presence in Oman.
Share Transfer
The process of transferring existing shares which also includes sharing the rights and may be duties from one partner to other instead of creating new shares. It can be either an internal transfer or an external transfer. The process of using the share transfer service in Oman seems complicated and time-consuming if you aren’t well-informed about the subject.
Some common events that entail companies doing share transfers
- Death of the shareholder
- Retirement of the shareholder
- Personal reasons, like including a family member in the share
- Introducing a new important business partner on board
- When a shareholder leaves the company
- Physical or mental incapability of the shareholder
- The bankruptcy of the company
A brief overview of the types of share transfers that can be done in Oman
An individual or a local company or an international company can do a share transfer
Individual legal type companies can only be transferred to individuals, who can be either Omani or foreigners.
The conversion of Single Person Company (SPC) into a Limited Liability Company (LLC) or vice versa is allowed.
No restrictions on transferring Omani-owned companies to ex-pats or vice versa.
All partners involved in the process (buyer and seller) are required to be present to do a share transfer. (Note: Power of Attorney will be considered.)
Required Documents for Company Share Transfer in Oman
- Company CR copy
- Chamber of Commerce Copy
- Memorandum of Association (MoA)
- Articles of Association (AoA)
- Share Transfer agreement signed by all shareholders
- Company Tenancy Copy
- Municipality License Copy
- Company Bank Statement (Last Month)
- Existing shareholder identification card/passport copy
- Identity card of new Investors / Passport Copy
- Omani Staff ID Copy
Steps
Procedures of Company Share Transfer in Oman
Confirm your total number of shareholdings
Confirm the total number of shareholdings, the number of shareholdings that you want to transfer, and the number you want to keep.
Arrange a board meeting
Discuss with the board members and obtain approval regarding the share transfer before taking further steps.
Fill out the transfer form
The transfer form contains the details of the seller/ and buyers of shares, the type of shares and the amount to be paid. The seller has to sign the transfer form with the date.
Issue the new share certificate
The next crucial step is the issuing of the new certificate that details the shareholdings precisely. Confirm the details are correct.
Arabian Business Solutions to Assist!
If you are thinking of transferring shares in your company, reach out to us. We will assist you in completing all the processes and procedures related to company share transfers in Oman by complying with the rules and regulations. Our team of experienced professionals is up-to-date about the latest changes and developments in the law.
