Austria introduces a requirement of legalisation when making share transfers

5 February 2021 - Following the recent decision by the Austrian Supreme Court 23/4/2020, 6 Ob 59/20z, it was announced that any purchase and/or transfer of limited liability company (GmbH) shares shall be considered null and void if a notarial deed is missing. The wording of such transaction needs to be clear, accurate, and address the intention of an immediate transfer so that undertaking and transfer of title (signing and closing) will coincide.

 

Our contacts

Kariem Abdellatif

Kariem Abdellatif

Head of Mercator by Citco

T+352 47 23 23 265
Ekabdellatif@citco.com
LLuxembourg

Robert-Jan Kokshoorn

Robert-Jan Kokshoorn

Head of Business Development,
Mercator by Citco

T+1 305 577 1116
Erkokshoorn@citco.com

Chris Butler

Chris Butler

Head of Operations,
Mercator by Citco

T+370 5 204 7300
Echbutler@citco.com
LVilnius