Can you be a shareholder without registering it with CRO?

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mloc

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I have a friend who has been pushing to become a shareholder in a limited company.
The owner (and shareholder) of the company has verbally agreed to giving him a 30% shareholding in the company and said he will write him a formal letter to confirm this.
Does any of this hold up to legal or tax scrutiny or is it only when it is formally registered with the CRO that the shareholding becomes valid.
I told him the date could be relevant for tax calculations down the road but I'm not sure.
Any inputs?
 
Where to start ...
I trust your friend already has legal advice. He will have been told these issues by his lawyer. I would rely on that advice, and not anything here as you're missing a huge amount of detail! If I were the current shareholder - what's to stop him stripping all the assets out of the company into a new company before giving away 30% of an empty valueless company.

Undoubtedly your friend already has accountant and lawyers involved - let them deal with it.
 
I'd agree, 30% of a company can be very hard to realise.

No control and can be hard to sell to a 3rd party in a lot of cases.
 
I took your points and passed them on.
He is not concerned with the main shareholder doing anything funny as they are building up the company to sell and he is an integral part of that.
It turns out that they agreed his 30% shareholding about 9 months ago but are only getting around to lodging this change with the CRO now.
His central question was whether the shareholding change was valid from the date they verbally agreed it 9 months ago or from the date when they recorded it in the CRO (around now.) ?
 
mloc said:
I took your points and passed them on.
He is not concerned with the main shareholder doing anything funny as they are building up the company to sell and he is an integral part of that.
It turns out that they agreed his 30% shareholding about 9 months ago but are only getting around to lodging this change with the CRO now.
His central question was whether the shareholding change was valid from the date they verbally agreed it 9 months ago or from the date when they recorded it in the CRO (around now.) ?
Click to expand...
Hi there,

The effective share transfer will be the date executed on the stock transfer form which needs to be signed by the transferor and transferee. This same date is then recorded in the annual B1 of the company and outlines this share transfter to CRO
 
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