It is possible for private limited companies to add new shareholders at any point after incorporation. For this to be done, the existing shares need to be sold or transferred by an existing shareholder to the new shareholder. On the other hand, an organization could raise its share budget by authorizing new shares.
Share transfer
In order to transfer the ownership of an allotted share, a share transfer form needs to be filled with the details below: The Company’s registered name. Number of shares being transferred Value and class of shares being transferred Name and contact of new shareholders. Stamp Duty liability, if any money is paid for the shares. Name and contact address of existing shareholder Alternate form of non-cash payment or consideration money, if applicable, signature of authorized person.
Removing company shareholders
If the shareholder desires to leave a company, his or her shares should be sold or transferred to someone else. The director of the company will be in charge of managing the transfer and updating of shareholder’s details at Companies House as well as in the company’s constitutional register of members.
Companies House should be notified concerning a shareholder leaving a company when the next annual return is filed. In addition, the transfer of shares will be reported simultaneously. The company’s secretary or director must keep the details of the shareholders updated in the company’s register of members as soon as possible after a shareholder leaves a company.
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