Shares transfer Casablanca
Limited liability companies in Morocco have share capital distributed among the partners according to their contribution to the company.
In the context of the life of a company, a transfer of shares may be necessary in certain situations:
- Wish of one of the partners to recover funds to invest in other projects
- Disagreement between the partners requiring the departure of one of them
- Entry of a new partner
- …….
The transfer of shares in Casablanca, Morocco is still subject to compliance with certain legal obligations when it is carried out for the benefit of third parties:
- The obligation to have the agreement of ¾ of the partners
- A proposed transfer must be notified to the company and each of the partners
- The company has 30 days to make its right to claim known. After this period, consent to the transfer is deemed acquired
- If the company refuses to consent to the transfer, the partners are required within 30 days to acquire the shares at a price set by an expert designated by the parties and in the event of disagreement by the president of the court ruling in summary proceedings
The transfer of shares remains free in the following cases:
- Transmission by inheritance
- Transmission between spouses, parents and allies up to the 2nd degree inclusive
- Transmission between partners
As an accounting firm, our firm takes care of all formalities for the transfer of shares in Casablanca.
The corresponding formalities mainly include the following works:
- Drafting of the transfer project
- Drafting of the manager’s special report to the general meeting
- Convocation of partners to the general meeting
- Drafting the text of the resolutions to be presented to the meeting
- Drafting of the minutes of the general meeting deciding on the shares transfer ratification
- Amendment of the article of association
- Registration of legal documents at the tax services
- Filing of legal documents at the commercial court of Casablanca or other city
- Withdrawal of the new commercial register certificate
- Publication of the operation details in a legal notice newspaper
- Publication of the operation details in the official bulletin
The deadlines for completing a share transfer transaction in Casablanca are around 2 to 3 weeks from receipt of the legalized documents.
