FROM CACHE - en_header

Transfer of Ownership Asset Purchase

Sangtaeda
New Member
1 0 0

We plan to buy assets of a target company. Of which, there is an active shopify account. Can we transfer the ownership from the target to us at closing ? i.e. Can you change FEIN and banking info from the target company to the newco? 

Reply 1 (1)
Rein
Shopify Staff
Shopify Staff
307 32 46

Hi, @Sangtaeda 

 

I understand that you are looking to learn about transferring store ownership once you have acquired the assets of a company. 

 

This is entirely possible to do, and there is a process in place to assist with this. 

 

You can pass this along to the store owner, however, this process allows you to be brought on as staff to verify the store's contents, sales, and so on, then allows you to become the new store owner. 

 

The store owner can choose another staff member to be the store owner and transfer the store ownership to them. This process only applies to transferring store ownership. If you want to transfer organization ownership, then contact Shopify Plus Support.

 

Considerations for transferring store ownership

Before you transfer store ownership, consider the following:

  • Your store can have only one store owner at a time. Only the store owner has complete access to every part of the Shopify admin and can manage the account details. If you choose another staff member to be the store owner, then you lose this unrestricted access, and you might not be able to manage staff permissions in the future.

  • If you transfer ownership of your store through an Exchange Marketplace transaction, then the Shopify accounts team initiates the transfer of ownership. If you attempt to transfer the ownership yourself during an Exchange Marketplace transaction, then you're permanently unable to use Exchange Marketplace.

Steps:

  1. Log in to your store as the store owner.

  2. From your Shopify admin, click Settings > Users and permissions.

  3. Click Transfer ownership.

  4. Enter the email of the new store owner. If the new store owner isn't existing staff, then you need to enter their name, too.

  5. Enter your password to confirm the change.

  6. Click Transfer store ownership.

That is all there is to the process from there. Let me know if you have any questions or concerns! 

Rein | Social Care @ Shopify 
 - Was my reply helpful? Click Like to let me know! 
 - Was your question answered? Mark it as an Accepted Solution
 - To learn more visit the Shopify Help Center or the Shopify Blog