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How to Sell Shares in a Spanish Company

Updated on Friday 26th August 2016

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How-to-Sell-Shares-in-a-Spanish-Company.jpgThe persons or legal entities owning shares in a Spanish company are allowed to sell their shares following a set of rules imposed by the Spanish legislation. Shareholders can sell their shares in accordance with the proportion owned in the company and with their statute (minority or majority shareholders). Our team of company formation specialists in Spain can provide legal assistance and advice in this matter. 

 

Selling shares to a foreign person in Spain 

 
The shareholders are allowed to sell their shares to natural persons or legal entities. When the buyer of the shares is a foreign natural person, the local legislation requires the individual to own a Spanish tax identification number (Numero de Identification Extranjero - NIE), which is issued to all foreigners with financial or social activities in Spain. The NIE is necessary for all foreigners with activities in Spain, regardless if they are citizens of the European Union or of countries outside the Community.

 

Certify the deed of sale in Spain 

 
The selling procedure signifies the transfer of ownership on the respective shares, which is performed through a deed of sale. The deed of sale is signed in front of a public notary in Spain and the seller and the buyer have to be represented by their legal representatives; our team of company formation agents in Spain can offer assistance in this process. 
 
When performing this action, the buyer should present the following documents: 
 
the power of attorney, when applicable;
identity documents, presented in original;
a declaration of foreign investment
 

Selling shares to a Spanish shareholder 

 
The shares can also be sold to another shareholder, who is a business partner in the same company
 
The procedure is performed under the rules of the Law 1/2010, Article 107. In this situation, the transfer of shares does not involve a transfer tax
 
As a general rule, the shareholder would need the approval of the other shareholders for the transfer, but when the shares are sold to another associate, the approval of the other shareholders is not necessary. 
 
Investors interested in selling shares in a Spanish company can address to our team of company formation consultants for representation.
 

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