China Company secretarial service
Hotline: 86-755-82143410, Email:info@citilinkia.com
As we know that for a thingthat the owner want to sell or transfer to another one, they will do the business . And for the company or enterprise , if the owner want to sell it , of course , the share transfer will come out. For each one they want to know more about the China share transfer , the detial information as follows :
Transfer of a share by contract -- China share transfer
Article 72 PRC Company Law sets out the rules for the transfer of shares between shareholders of a Chinese LLC and for the transfer of shares from shareholders to non-shareholders. The transfer of shares between shareholders is not subject to any restrictions. If, however, a shareholder of a Chinese LLC intends to transfer his share to a non-shareholder, certain requirements have to be met. First, the transfer requires approval by more than 50% of the other shareholders. The shareholder intending to transfer his share must notify the other shareholders in writing.
Transfer of a share by the people's court -- China share transfer
Pursuant to Article 73 PRC Company Law the people's court may transfer shares on the basis of enforcement proceedings provided for by law. In case of such transfer, the other shareholders have a pre-emption right in respect of the shares. The people's court must notify the company and all shareholders of the transfer and the shareholders may exercise their pre-emption right under the same conditions within 20 days from the court's notice. Otherwise, they are deemed to have waived their pre-emption right.
Purchase of own shares --- China share transfer
Pursuant to Article 75 PRC Company Law the shareholder of a Chinese LLC is entitled to request the Chinese LLC to purchase his share in the company if he opposes a shareholders' resolution on any of the following matters:
that there will be no distribution of profits to the shareholders, provided that the Chinese LLC has not distributed any profits to the shareholders for five consecutive years despite having made profits during such period and provided that the profit distribution requirements set out in the PRC Company Law are met;
a merger, de-merger or transfer of main assets of the Chinese LLC;
an amendment of the Chinese LLC's articles of association to continue the Chinese LLC (e.g. because the duration of the Chinese LLC as set out in the articles of association has expired).
Contact Us
If you have further queries, don’t hesitate to contact ATAHK anytime, anywhere by simply visiting ATAHK’s website www.3737580.net , or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82148419, or emailing to info@citilinkia.com