“Selling company” is a common definition. You can not sell the company, because it is a legal person. So, you can transfer shares from your person to another person – i.e – to a natural or legal person.
According to Estonian Commercial code, a transaction constituting an obligation to transfer a share of a limited liability company (OÜ) need be notarized.
There are 2 ways for changing of transfer:
- Comming to local Estonian notary public with identity document
- Granting Power of Attorney to our employee, who will come to the notary public on behalf of you.
The notary office is responsible for preparing paperwork ( Purchase Shares Agreement) and notifying Commercial Register (called “RIK) within 2 business days from date of certification of selling shares agreement.
Note that the procedure of notarial certification is applicable in this process – not notarial authentication.
The list of needed documents regarding procedure of shares transfer.
- Identity Documents ( Passport copy or Travel Document with photo – EEA card )
- Contact details of Transferor and Transferee
- Marriage certificate if applicable
- Concerning legal persons – certificate of incorporation, company registry card, article of association (AoA) and other documents confirming the right of representation of the legal entity.
Remember please that if you choose remotely process of transfer (Power of Attorney) – you need to go to a local notary public in order to grant Power of Attorney and delivery personal documents notarized and apostilled.