COMPANY FORMATION

Company Share Transfer Services in Oman

Selling Shares in a Limited Liability Company (LLC) or Sole Proprietor Company (SPC)

The Ministry of Commerce, Industry, & Investment Promotion (MoCI) has allowed the investors to complete the transfer of ownership of the commercial registry through service delivery offices.

Shareholders owning shares in a limited liability company (LLC) or sole proprietor company (SPC) may seek to sell or transfer the shares at some point during the life of the company. A share transfer is the process of transferring a partner's share percentage to another partner. This can be an internal transfer or even an external transfer. In such a case, there are specific legal requirements in the Commercial Companies Law of Oman pertaining to a sale or transfer.

In an SPC company, the shareholder wishing to sell his shares first must give notice of his intention to the proposed purchaser. The notice means it is a buying and selling agreement. The agreement must specify the number of shares, the name, nationality, and address of the proposed purchaser, as well as the terms of the sale.

In an LLC company, the shareholder wishing to sell his shares first must give notice of his intention to all shareholders in the LLC. Each shareholder in an LLC has a right of first refusal, meaning a right to purchase the shares on the same terms before they are offered to a non-member of the company. The seller of the shares must give written notice to all shareholders in the LLC of his intent to sell. The notice means it is a buying and selling agreement. The agreement must specify the number of shares, the name, nationality, and address of the proposed purchaser, as well as the terms of the sale.

Through service delivery offices, the investors can transfer the ownership of the commercial registration. We at Feamish Business Solutions can make the process easy and fast without making any mistakes. Once we receive the application from the investors, we submit the application to the Ministry of Commerce and Industry through the investeasy portal ( https://www.business.gov.om/ieasy/wp/en/ ) ( https://www.business.gov.om )

We will submit the required documents attached along with the payment of the application fees. The application will be transferred electronically to the ministry’s employee for review.

When the application is complete, the seller and buyer are required to visit the offices of the Ministry of Commerce and Industry to sign the buying and selling agreement as a final procedure.

The share transfer process might be a hassle; one or multiple visits to the Ministry of Commerce, Industry, & Investment Promotion for documentation work. In an SPC or LLC company, all the sellers and buyers should be present at the Ministry of Commerce for the signing of the buying and selling agreement. Once the signature from the ministry is complete, the company shareholders need to pay the ministry fees at the counter. After the payment is completed, the ministry staff will give the new company documents to the investors.

We at Feamish Business Solutions can make the process seamless; in just 3 to 4 working days, we can complete the entire process.

 

Points to Note

  • Share transfers can be done by an individual or an established local or international entity.
  • Individual legal type company can be transferred to an individual only (can be an Omani or foreigner).
  • SPC can be converted to LLC or vice versa without any problem.
  • Omani owned companies can be easily transferred to ex-pat or vice versa.
  • The physical presence of all partners is mandatory to do a share transfer (buyer and seller).
  • If any seller or buyer does not come to the ministry for signature, a power of attorney will be considered.

 

Documents required to do Selling Shares in a Limited Liability Company (LLC) or Sole Proprietor Company (SPC)

  • Commercial Registration Certificate
  • Chamber of Commerce
  • Tenancy Agreement (Rent Agreement)
  • Municipality License
  • Company Bank Statement (Last 1 Month)
  • Existing Shareholders ID / Passport Copy
  • New Shareholders ID / Passport Copy
  • Omani Staff ID Copy

 

If you have any missing documents, Feamish Business Solution can help you to overcome that.

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- Company CR copy - Chamber of Commerce Copy - Company Tenancy Copy - Municipality License Copy - Company Bank Statement (Last 1 Month) - Existing Shareholders ID / Passport Copy - New Investors ID / Passport Copy - Omani Staff ID Copy
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