Can I transfer my shares to a non-UK resident?

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Question about shares for you all. I am retiring, and would like to transfer my shares in a limited company. The person I want to transfer them to, my mother, does not reside in the UK. Will this impact the transfer at all?

Answers

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Yes, that’s allowed, you can transfer shares to someone who lives outside the UK. The transfer process is exactly the same as it is for UK residents:

Step 1 The transfer must be approved by the other shareholders or directors - check the articles of association and shareholders’ agreement to determine who has this power.

Step 2 Complete a Stock Transfer form. Retain a copy at the registered office address and provide a copy to the shareholder who sold their shares.

Step 3 Send the Stock Transfer from and Stamp Duty payment to HMRC, if required. The form will be stamped.

Step 4 Issue a share certificate to the new shareholder.

Step 5 Update the statutory register of members - add the new shareholder’s name and address and state how many shares they hold; update the share holdings of the person who sold the shares or, if they sold all of their shares, state the date that they ceased to be a member.

Step 6 When it is time to file your next annual return at Companies House, provide the required information about the new shareholder and the share transfer.

a year ago
 

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