Download Share Transfer Format For Sri Lanka
Transferring company shares in Sri Lanka is a straightforward process, allowing shareholders to transfer their shares to anyone they choose without extensive procedures. However, it’s essential to follow the correct steps to ensure a smooth transfer.
Key Steps in the Share Transfer Process
- Board Approval: If the company’s articles of association restrict share transfers, you’ll need approval from the board of directors.
- Consultation: It’s advisable to consult the company secretary before proceeding with the transfer. They can guide you through the process and handle the necessary paperwork.
- Professional Fees: Typically, the seller and buyer share the cost of the transfer, as it’s not part of the company’s regular operations. However, in some cases, the company may cover this cost. Always confirm with your company secretary.
Share Transfer Forms
While there is no prescribed form by the Registrar General of Companies, a widely accepted format introduced by the Department of Inland Revenue is commonly used. This format meets the general requirements for share transfers.
Essential Details for a Share Transfer Form
To ensure your share transfer form is complete, include the following details:
- Seller (Transferor) Information: Full legal name, current residential address, and National Identity Card number (for Sri Lankans) or passport number and country of issue (for foreign nationals).
- Buyer (Transferee) Information: Full legal name, current residential address, and National Identity Card number (for Sri Lankans) or passport number and country of issue (for foreign nationals).
- Company Description: Name, address, and registration number of the company.
- Share Details: Number and type of shares (ordinary or preferential) and whether they are fully paid.
- Share Certificate Number: Include the share certificate number and any distinctive numbers of the shares.
- Consideration: The amount paid for the shares.
- Transfer Date: The date the transfer is finalized.
- Transaction Location: Where the transaction took place.
- Signatures: Signatures of both parties involved in the transfer.
- Witnesses: Signatures of two witnesses.
Once these details are included, the share transfer is complete and should be sent to the company secretary for the necessary updates.
Download Our Share Transfer Format
To simplify this process, we have developed a comprehensive share transfer format that includes all the necessary details. Download it here to ensure your share transfer is handled efficiently and correctly.
For further assistance or inquiries, feel free to contact us. We’re here to help you navigate the share transfer process smoothly and effectively.
