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Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3840
Experience:  Solicitors 2 years plus PQE
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I am a UK resident. I have a share in a company in Trinidad

Customer Question

I am a UK resident. I have a share in a company in Trinidad that I am selling to a Trinidad resident for $TT 1,000,000 which he will register and pay stamp duty on in Trinidad.
Buyer has funds in the UK. So deal is he pays me in the UK the value i.e. c£10,000
I am not concerned about any of the tax issues.
What I can't work out is how protect each others rights i.e. Simultaneous transfer - of share in Trinidad with money in the UK.
My local Trinidad solicitor will have my original share certificate and signed transfer form - but his local solicitor will not have the money in his client accounts.
Any ideas - other than we both employ expensive international firms with solicitors in both Trinidad and England?
Submitted: 1 year ago.
Category: Law
Expert:  Alex J. replied 1 year ago.
Hi. Thank you for your question and welcome. My name is ***** ***** I will assist you. Can you not deliver the signed stock transfer form to your Trindad Solicitor. The Trindad then undertakes to deliver this to buyers solicitor on transfer of the money in your bank account. Effectively instead of the money being held in escrow the signed transfer deed will be held in escrow instead?