{"id":2119483,"date":"2026-09-11T12:17:39","date_gmt":"2026-09-11T10:17:39","guid":{"rendered":"https:\/\/kohenavocats.fr\/2026\/09\/11\/foreign-buyer-sarl-agrement-refused-three-month-buyout\/"},"modified":"2026-09-11T12:17:39","modified_gmt":"2026-09-11T10:17:39","slug":"foreign-buyer-sarl-agrement-refused-three-month-buyout","status":"publish","type":"post","link":"https:\/\/kohenavocats.fr\/en\/2026\/09\/11\/foreign-buyer-sarl-agrement-refused-three-month-buyout\/","title":{"rendered":"The SARL Refuses to Approve the Transfer to a Foreign Buyer: Three-Month Buyout, Expert Price and Who Can Attack the Agr\u00e9ment"},"content":{"rendered":"

The email from the g\u00e9rant<\/em> (manager) of the French SARL (soci\u00e9t\u00e9 \u00e0 responsabilit\u00e9 limit\u00e9e<\/em>, the private limited company) does not always say \u201crefused\u201d. It says the associates will \u201clook at the file\u201d, or that a foreign buyer cannot enter without a meeting, or that the promise of sale is \u201cnot opposable\u201d. Three months later the foreign buyer still has no Kbis (extrait Kbis<\/em>, the official extract from the RCS, registre du commerce et des soci\u00e9t\u00e9s<\/em>), the seller still holds the parts, and the bank will not treat the buyer as an associate. That is an agr\u00e9ment<\/em> (statutory approval) problem, not a translation problem.<\/p>\n

Article L. 223-14 of the code de commerce<\/a> is mandatory in a SARL: parts cannot be sold to a third party without the consent of a majority of associates representing at least half of the parts, unless the bylaws require more. Silence for three months after the last notification is consent. A real refusal does not kill the seller\u2019s exit: the associates must buy or have the parts bought within three months, at a price set under article 1843-4 of the code civil<\/a>, or the original sale to the foreign buyer may go through. This article is for the foreign buyer, or the foreign seller, who has already set up or acquired a French company<\/a> and now faces a blocked transfer. It is not the happy-path filing described in the share-transfer checklist<\/a>. It is the refusal, the three-month clock, and the 2026 case-law on who may later plead that the agr\u00e9ment was defective.<\/p>\n

I. Why the SARL can refuse a foreign buyer and what that refusal actually does<\/h2>\n

A. How agr\u00e9ment is notified and when silence becomes consent<\/h3>\n

Article L. 223-14 opens with a rule that cannot be written out of the bylaws: \u201cLes parts sociales ne peuvent \u00eatre c\u00e9d\u00e9es \u00e0 des tiers \u00e9trangers \u00e0 la soci\u00e9t\u00e9 qu\u2019avec le consentement de la majorit\u00e9 des associ\u00e9s repr\u00e9sentant au moins la moiti\u00e9 des parts sociales, \u00e0 moins que les statuts pr\u00e9voient une majorit\u00e9 plus forte.\u201d A US LLC, a UK Ltd or a natural person who is not already an associate is a \u201ctiers \u00e9tranger \u00e0 la soci\u00e9t\u00e9\u201d. The foreign character of the buyer is not, by itself, a legal ground of refusal. The associates may still refuse, for any reason or none, because agr\u00e9ment in a SARL is a power to keep the group closed. What they may not do is ignore the procedure and hope the promise of sale dies of its own accord.<\/p>\n

The same article then sets the notice: \u201cLorsque la soci\u00e9t\u00e9 comporte plus d\u2019un associ\u00e9, le projet de cession est notifi\u00e9 \u00e0 la soci\u00e9t\u00e9 et \u00e0 chacun des associ\u00e9s.\u201d Article R. 223-11 of the code de commerce<\/a> says how: \u201cLa notification du projet de cession ou de nantissement de parts sociales, pr\u00e9vue au deuxi\u00e8me alin\u00e9a de l\u2019article L. 223-14 et \u00e0 l\u2019article L. 223-15, est faite par acte extrajudiciaire ou par lettre recommand\u00e9e avec demande d\u2019avis de r\u00e9ception.\u201d An email to the g\u00e9rant, a WhatsApp to the other founder, or a PDF dropped in a data room is not that notification. A foreign seller who starts the three-month clock in his own head, without a recorded delivery to the company and to each associate, has not started it at all.<\/p>\n

Once notice is given, article R. 223-12<\/a> puts the g\u00e9rant under an eight-day duty: \u201cDans le d\u00e9lai de huit jours \u00e0 compter de la notification qui lui a \u00e9t\u00e9 faite en application de l\u2019article R. 223-11, le g\u00e9rant convoque l\u2019assembl\u00e9e des associ\u00e9s pour qu\u2019elle d\u00e9lib\u00e8re sur le projet de cession des parts sociales ou, si les statuts le permettent, consulte les associ\u00e9s par \u00e9crit sur ce projet. La d\u00e9cision de la soci\u00e9t\u00e9 est notifi\u00e9e au c\u00e9dant par lettre recommand\u00e9e avec demande d\u2019avis de r\u00e9ception.\u201d A g\u00e9rant who sits on the letter is already in breach. A meeting that is never called is not a refusal. It is a path to tacit consent.<\/p>\n

Article L. 223-14 is explicit on silence: \u201cSi la soci\u00e9t\u00e9 n\u2019a pas fait conna\u00eetre sa d\u00e9cision dans le d\u00e9lai de trois mois \u00e0 compter de la derni\u00e8re des notifications pr\u00e9vues au pr\u00e9sent alin\u00e9a, le consentement \u00e0 la cession est r\u00e9put\u00e9 acquis.\u201d The three months run from the last notification, not from the promise of sale, not from the day the foreign counsel asked for a \u201ccomfort letter\u201d. If one associate was never notified, the last notification has not occurred. If all were notified and the company stayed mute for three months, the foreign buyer is approved by law. The Kbis will not change by magic: the transfer must still be in writing and published. But the agr\u00e9ment bar has fallen.<\/p>\n

Two-year holding is a trap for a recent subscriber. The sixth paragraph of L. 223-14 provides that, except in succession, liquidation of a matrimonial community, or a gift to a spouse, ascendant or descendant, \u201cl\u2019associ\u00e9 c\u00e9dant ne peut se pr\u00e9valoir des dispositions des troisi\u00e8me et cinqui\u00e8me alin\u00e9as ci-dessus s\u2019il ne d\u00e9tient ses parts depuis au moins deux ans.\u201d A foreign parent that subscribed last year and now wants to sell 10 % to a local manager cannot force the buyout or the fallback original sale if the company refuses. The associates can refuse and leave the parent with its parts. That is not an anti-foreign rule. It is a lock-up written into the code. The last sentence of the article shuts the door on clever drafting: \u201cToute clause contraire aux dispositions du pr\u00e9sent article est r\u00e9put\u00e9e non \u00e9crite.\u201d<\/p>\n

B. What a refusal forces: buyout in three months, price under 1843-4, or the original sale goes through<\/h3>\n

A notified, timely, express refusal is not the end of the foreign seller\u2019s exit. Article L. 223-14 continues: \u201cSi la soci\u00e9t\u00e9 a refus\u00e9 de consentir \u00e0 la cession, les associ\u00e9s sont tenus, dans le d\u00e9lai de trois mois \u00e0 compter de ce refus, d\u2019acqu\u00e9rir ou de faire acqu\u00e9rir les parts \u00e0 un prix fix\u00e9 dans les conditions pr\u00e9vues \u00e0 l\u2019article 1843-4 du code civil, sauf si le c\u00e9dant renonce \u00e0 la cession de ses parts. Les frais d\u2019expertise sont \u00e0 la charge de la soci\u00e9t\u00e9.\u201d The associates \u2014 not the foreign buyer \u2014 then carry the file. They must buy, or find a buyer the company will accept, within three months of the refusal. The seller may walk away. If he does not walk away, he is entitled to a price, not to an endless \u201cwe are thinking\u201d.<\/p>\n

Article 1843-4, I, of the civil code is the price machinery: \u201cDans les cas o\u00f9 la loi renvoie au pr\u00e9sent article pour fixer les conditions de prix d\u2019une cession des droits sociaux d\u2019un associ\u00e9, ou le rachat de ceux-ci par la soci\u00e9t\u00e9, la valeur de ces droits est d\u00e9termin\u00e9e, en cas de contestation, par un expert d\u00e9sign\u00e9, soit par les parties, soit \u00e0 d\u00e9faut d\u2019accord entre elles, par jugement du pr\u00e9sident du tribunal judiciaire ou du tribunal de commerce comp\u00e9tent, statuant selon la proc\u00e9dure acc\u00e9l\u00e9r\u00e9e au fond et sans recours possible.\u201d The expert \u201cest tenu d\u2019appliquer, lorsqu\u2019elles existent, les r\u00e8gles et modalit\u00e9s de d\u00e9termination de la valeur pr\u00e9vues par les statuts de la soci\u00e9t\u00e9 ou par toute convention liant les parties.\u201d A foreign SPA that already contains a valuation formula is not decorative. The expert must apply it if it exists. A bylaw formula likewise. Only if there is a dispute on value does the president of the competent court appoint the expert, by accelerated proceedings on the merits, with no appeal against that appointment. Article R. 223-11 adds that this designation is made by the president of the commercial court, and that he also rules, without appeal, on an extension of the three-month period (by ordonnance on request) and on the case in the fourth paragraph of L. 223-14 (by r\u00e9f\u00e9r\u00e9).<\/p>\n

The company itself may step in. With the seller\u2019s consent, it may, in the same three months, \u201cr\u00e9duire son capital du montant de la valeur nominale des parts de cet associ\u00e9 et de racheter ces parts au prix d\u00e9termin\u00e9 dans les conditions pr\u00e9vues ci-dessus.\u201d A court may, on justification, give the company up to two years to pay, with interest at the commercial legal rate. That is a recapitalisation and a buy-back, not a gift. It must be decided collectively and filed. It is not available as a unilateral freeze of the foreign seller.<\/p>\n

If, at the end of the allotted time, none of those solutions has occurred, \u201cl\u2019associ\u00e9 peut r\u00e9aliser la cession initialement pr\u00e9vue.\u201d The foreign buyer who was refused then takes the parts on the original terms. That is the sanction of a refusal that was not followed by a buyout. Associates who refuse in order to \u201cblock the American\u201d and then do nothing for three months have approved the American by inaction. The g\u00e9rant may ask the court to extend the three months, \u201csans que cette prolongation puisse exc\u00e9der six mois.\u201d An extension is a court decision, not an email from counsel.<\/p>\n

Until the transfer is in writing and published, the buyer is not an associate toward third parties. Article L. 223-17<\/a> sends the form of the transfer back to article L. 221-14<\/a>: \u201cLa cession des parts sociales doit \u00eatre constat\u00e9e par \u00e9crit. Elle est rendue opposable \u00e0 la soci\u00e9t\u00e9, dans les formes pr\u00e9vues \u00e0 l\u2019article 1690 du code civil.\u201d Signification to the company may be replaced by deposit of an original of the deed at the registered office against the g\u00e9rant\u2019s receipt. \u201cElle n\u2019est opposable aux tiers qu\u2019apr\u00e8s accomplissement de ces formalit\u00e9s et, en outre, apr\u00e8s publication des statuts modifi\u00e9s au registre du commerce et des soci\u00e9t\u00e9s ; ce d\u00e9p\u00f4t peut \u00eatre effectu\u00e9 par voie \u00e9lectronique.\u201d Article 1690 of the code civil<\/a> still states that the assignee \u201cn\u2019est saisi \u00e0 l\u2019\u00e9gard des tiers que par la signification du transport faite au d\u00e9biteur\u201d, with the alternative of an authentic acceptance. For a SARL, L. 221-14 is the practical route: writing, deposit or signification, then INPI \/ RCS publication of the amended bylaws. A foreign buyer who has paid the price into escrow but has no published bylaws is not yet on the Kbis, and the bank will say so.<\/p>\n

II. How a foreign buyer or seller contests a blocked or fake agr\u00e9ment<\/h2>\n

A. Who may invoke a defective agr\u00e9ment after the Cour de cassation of 11 February 2026<\/h3>\n

The usual late argument from sellers who have changed their minds is that the agr\u00e9ment was \u201cnot regular\u201d: no extraordinary meeting, no written consultation, the g\u00e9rant was not yet an associate, the company was not yet incorporated. The Cour de cassation, commercial chamber, 11 February 2026, n\u00b0 24-18.698<\/a>, closed two of those doors.<\/p>\n

First, the quality of associate does not wait for the Kbis or even for the paying-up of the capital. The Court held that the court of appeal had violated articles L. 223-2 and L. 223-6 of the code de commerce \u201calors que la signature des statuts suffit \u00e0 conf\u00e9rer aux signataires la qualit\u00e9 d\u2019associ\u00e9, lesquels sont, d\u00e8s lors, en mesure de s\u2019engager en cette qualit\u00e9 nonobstant le fait, d\u2019une part, que la soci\u00e9t\u00e9 n\u2019a pas encore \u00e9t\u00e9 immatricul\u00e9e, d\u2019autre part, que les signataires n\u2019ont pas lib\u00e9r\u00e9 leur apport en capital\u201d. Founders who signed the bylaws can agr\u00e9e a foreign incoming associate even before the RCS extract exists. They cannot later pretend they had no power because the bank certificate of capital deposit came the next day.<\/p>\n

Second, sellers who have already agr\u00e9e in a promise of sale cannot unwind the deal by pleading their own failure to call a meeting. The Court of Appeal had refused specific performance because, it said, there had been no extraordinary decision agr\u00e9eing the incoming associate, contrary to the bylaws and to article R. 223-12. The Cour de cassation quashed: \u201calors que les c\u00e9dants ne pouvaient se soustraire aux obligations qu\u2019ils avaient contract\u00e9es dans les promesses de cession de parts sociales\u201d. The people whose consent the statute requires are not free to invoke the inobservation of the very formalities they controlled. For a foreign buyer holding a signed promise, that holding is the litigation map: sue on the promise; do not accept a reconstructed \u201cthe meeting never happened\u201d defence from the signatories of that promise.<\/p>\n

The decision does not abolish R. 223-12. The g\u00e9rant must still convene or consult. The company must still notify the seller by registered letter. What it abolishes is the tactical use of those rules by the sellers themselves. Other associates, or the company, may still have an interest in a regular meeting. A later creditor, or a later buyer of the same parts, may care whether the Kbis matches a valid agr\u00e9ment. The foreign buyer\u2019s first read of 24-18.698 should therefore be precise: it is a shield against the sellers, not a licence to skip notification of the company and of every associate who is not a seller.<\/p>\n

In a SAS (soci\u00e9t\u00e9 par actions simplifi\u00e9e<\/em>), the default is the opposite. There is no statutory agr\u00e9ment. Article L. 227-14<\/a> only allows the bylaws to \u201csoumettre toute cession d\u2019actions \u00e0 l\u2019agr\u00e9ment pr\u00e9alable de la soci\u00e9t\u00e9\u201d. If they do, article L. 227-15<\/a> is the sanction: \u201cToute cession effectu\u00e9e en violation des clauses statutaires est nulle.\u201d The Cour de cassation, commercial chamber, 21 June 2023, n\u00b0 21-25.952<\/a>, recalled that sentence and added: \u201cCe texte ne r\u00e9gissant pas l\u2019exclusion d\u2019un associ\u00e9 et la cession forc\u00e9e de ses actions qui en r\u00e9sulte, la nullit\u00e9 qu\u2019il pr\u00e9voit vise uniquement \u00e0 sanctionner la violation de toute clause statutaire ayant pour objet la cession d\u2019actions librement consentie par leur titulaire.\u201d A transfer to a foreign buyer that ignores a SAS agr\u00e9ment clause is void. A void transfer never reached the INPI. The SAS case is therefore a bylaw-reading exercise, not the statutory three-month buyout of L. 223-14. Mixing the two codes is how files are lost.<\/p>\n

B. SAS contrast, INPI filing, Paris greffe and what to put in the file<\/h3>\n

Once agr\u00e9ment is acquired \u2014 by vote, by tacit consent, or by the fallback of L. 223-14 after a refusal without buyout \u2014 the foreign buyer still needs a written deed, opposability to the company, and publication of the amended bylaws. That filing now goes through the INPI (Institut national de la propri\u00e9t\u00e9 industrielle<\/em>) guichet unique<\/em>, the one-stop electronic counter that carries what used to be a paper deposit at the greffe<\/em> (the commercial court\u2019s registry). Sworn French translations of the foreign buyer\u2019s corporate documents, and where required an apostille, remain the usual gate. The RBE (registre des b\u00e9n\u00e9ficiaires effectifs<\/em>, the beneficial-owner register) must be updated in the same movement if the buyer, or the people who control the buyer, cross the beneficial-owner thresholds; a mismatch with the new Kbis is how French companies get frozen, as in the RBE blockage article<\/a>.<\/p>\n

If the SARL is a single-associate company selling to a foreign third party, L. 223-14\u2019s multi-associate notice paragraph does not read the same way: the code distinguishes \u201cLorsque la soci\u00e9t\u00e9 comporte plus d\u2019un associ\u00e9\u201d. The agr\u00e9ment majority is then a conversation of the sole associate with himself, which is why many foreign groups use a SASU instead. Choosing SAS or SARL<\/a> after a refused agr\u00e9ment is late. Choosing it before the first outside investor is the point of that comparison. In a SAS, article L. 227-9<\/a> still requires collective decisions, in the forms set by the bylaws, for operations that in a public limited company belong to the meetings, and \u201cL\u2019associ\u00e9 unique ne peut d\u00e9l\u00e9guer ses pouvoirs.\u201d A local directeur who is not the pr\u00e9sident cannot agr\u00e9e a buyer by email.<\/p>\n

Litigation sits in the commercial court of the company\u2019s si\u00e8ge social (registered office). The president of that court, or of the judicial court as article 1843-4 also allows, appoints the expert and hears the accelerated application. For a company with its si\u00e8ge in Paris, that is the Tribunal de commerce de Paris and, for some 1843-4 filings, the Tribunal judiciaire de Paris; the greffe that will later issue the new Kbis is the Paris greffe. In Hauts-de-Seine, Seine-Saint-Denis or Val-de-Marne the court and greffe follow the d\u00e9partement. The statute is national. The file is local. Documents that actually move a Paris file are pedestrian: the promise of sale, proof of the R. 223-11 notifications (registered slips or huissier \/ commissaire de justice certificates), the eight-day convening under R. 223-12 or the proof it never came, the registered letter of refusal if any, the bylaws, the current Kbis, the draft transfer deed, and, if value is disputed, the 1843-4 application. A foreign power of attorney to sign the deed must be in a form the greffe will take, usually with a sworn translation.<\/p>\n

What not to do is as important as the clock. Do not treat a \u201cwe object\u201d email as a refusal that starts the buyout period if the company was never notified in the R. 223-11 form. Do not pay the price to the sellers personally before agr\u00e9ment, then discover the associates have refused and the two-year lock-up applies. Do not file an INPI transfer while agr\u00e9ment is still open: the greffe will reject it or, worse, register a transfer that L. 227-15 would have voided in a SAS. Do not let the three months after a real refusal expire without either an expert, a buyout, a court extension or a completion of the original sale. And do not accept, after Cass. 24-18.698, a reconstruction by the sellers that they \u201cwere not associates yet\u201d when they signed the promise.<\/p>\n

URSSAF, the SIE and the bank will all read the Kbis, not the term sheet. Until the amended bylaws are published, the foreign buyer is not the associate they will talk to. The three-month agr\u00e9ment clock and the INPI clock are therefore two clocks. The first is in L. 223-14. The second is the one-month logic of commercial-registry filings for a change already decided. Mixing them produces a buyer who has \u201cwon\u201d agr\u00e9ment on paper and still cannot open the account.<\/p>\n

Conclusion<\/h2>\n

A SARL may refuse a foreign buyer. It may not disappear the seller. Article L. 223-14 requires notice to the company and to each associate, in the R. 223-11 form; eight days for the g\u00e9rant to convene or consult under R. 223-12; three months before silence becomes consent; and, after a real refusal, three months for the associates to buy or have the parts bought at an 1843-4 price, failing which the original sale may proceed. A clause that tries to write that scheme out is deemed unwritten. A seller who has not held the parts for two years cannot force the buyout, except in the family cases the code lists. In a SAS the agr\u00e9ment exists only if the bylaws say so, and a transfer that ignores that clause is void under L. 227-15. The Cour de cassation of 11 February 2026 added that signing the bylaws already makes a founder an associate, and that sellers cannot shed a promise of sale by pleading the meeting they failed to call. The foreign buyer\u2019s file is therefore a sequence: valid notice, a decision or a silence, a buyout or a completion, a written deed, a deposit or signification, an INPI publication, a new Kbis and a consistent RBE. Anything short of that sequence is still a blocked transfer, whatever the term sheet says.<\/p>\n

Need a quick opinion on your case.<\/h2>\n

Our firm offers a telephone consultation within 48 hours with an avocat of the cabinet, to read the promise of sale, the agr\u00e9ment notices, the bylaws and the Kbis.<\/p>\n

The discussion is built on your documents: the registered-letter slips or huissier certificates, the refusal if any, the draft transfer deed, and any INPI rejection or bank letter already received.<\/p>\n

Call Ma\u00eetre Reda Kohen on +33 6 46 60 58 22<\/a> (06 46 60 58 22 in France) or use the firm\u2019s contact form<\/a>.<\/p>\n

The firm advises companies in Paris and \u00cele-de-France, including before the Tribunal de commerce de Paris and the commercial courts of the inner suburbs.<\/p>\n","protected":false},"excerpt":{"rendered":"

A French SARL refuses agr\u00e9ment for a foreign buyer. How the three-month buyout, the 1843-4 price and the 11 February 2026 Cour de cassation on defective agr\u00e9ment actually work.<\/p>\n","protected":false},"author":251031309,"featured_media":4188,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_kj_source_type":"","_kj_official_id":"","_kj_official_url":"","_kj_judilibre_id":"","_kj_jur":"","_kj_lieu":"","_kj_chambre":"","_kj_rg":"","_kj_date":"","activitypub_content_warning":"","activitypub_content_visibility":"","activitypub_max_image_attachments":4,"activitypub_interaction_policy_quote":"anyone","activitypub_status":"federated","footnotes":""},"categories":[80314,80313],"tags":[],"class_list":["post-2119483","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-decryptage","category-doing-business-in-france"],"yoast_head":"\nThe SARL Refuses to Approve the Transfer to a Foreign Buyer: Three-Month Buyout, Expert Price and Who Can Attack the Agr\u00e9ment - Ma\u00eetre Reda Kohen, Real Estate and Business Law Attorney in Paris<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/kohenavocats.fr\/en\/2026\/09\/11\/foreign-buyer-sarl-agrement-refused-three-month-buyout\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The SARL Refuses to Approve the Transfer to a Foreign Buyer: Three-Month Buyout, Expert Price and Who Can Attack the Agr\u00e9ment\" \/>\n<meta property=\"og:description\" content=\"A French SARL refuses agr\u00e9ment for a foreign buyer. How the three-month buyout, the 1843-4 price and the 11 February 2026 Cour de cassation on defective agr\u00e9ment actually work.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kohenavocats.fr\/en\/2026\/09\/11\/foreign-buyer-sarl-agrement-refused-three-month-buyout\/\" \/>\n<meta property=\"og:site_name\" content=\"Ma\u00eetre Reda Kohen, Real Estate and Business Law Attorney in Paris\" \/>\n<meta property=\"article:published_time\" content=\"2026-09-11T10:17:39+00:00\" \/>\n<meta name=\"author\" content=\"Kohen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kohen\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"17 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/2026\\\/09\\\/11\\\/foreign-buyer-sarl-agrement-refused-three-month-buyout\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/2026\\\/09\\\/11\\\/foreign-buyer-sarl-agrement-refused-three-month-buyout\\\/\"},\"author\":{\"name\":\"Kohen\",\"@id\":\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/#\\\/schema\\\/person\\\/6254a643e6239d803134a01c800381bd\"},\"headline\":\"The SARL Refuses to Approve the Transfer to a Foreign Buyer: Three-Month Buyout, Expert Price and Who Can Attack the Agr\u00e9ment\",\"datePublished\":\"2026-09-11T10:17:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/2026\\\/09\\\/11\\\/foreign-buyer-sarl-agrement-refused-three-month-buyout\\\/\"},\"wordCount\":3495,\"publisher\":{\"@id\":\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/2026\\\/09\\\/11\\\/foreign-buyer-sarl-agrement-refused-three-month-buyout\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/kohenavocats.fr\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/dmitrij-paskevic-YjVa-F9P9kk-unsplash.webp\",\"articleSection\":[\"D\u00e9cryptage\",\"Doing Business in France\"],\"inLanguage\":\"en-US\",\"citation\":\"The SARL Refuses to Approve the Transfer to a Foreign Buyer: Three-Month Buyout, Expert Price and Who Can Attack the Agr\u00e9ment\",\"about\":[{\"@type\":\"Thing\",\"name\":\"D\u00e9cryptage\"},{\"@type\":\"Thing\",\"name\":\"Doing Business in France\"}],\"dateModified\":\"2026-09-11T10:17:39+00:00\",\"speakable\":{\"@type\":\"SpeakableSpecification\",\"cssSelector\":[\".article-content > p:first-of-type\"]}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/2026\\\/09\\\/11\\\/foreign-buyer-sarl-agrement-refused-three-month-buyout\\\/\",\"url\":\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/2026\\\/09\\\/11\\\/foreign-buyer-sarl-agrement-refused-three-month-buyout\\\/\",\"name\":\"The SARL Refuses to Approve the Transfer to a Foreign Buyer: Three-Month Buyout, Expert Price and Who Can Attack the Agr\u00e9ment - Ma\u00eetre Reda Kohen, Real Estate and Business Law Attorney in Paris\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/2026\\\/09\\\/11\\\/foreign-buyer-sarl-agrement-refused-three-month-buyout\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/2026\\\/09\\\/11\\\/foreign-buyer-sarl-agrement-refused-three-month-buyout\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/kohenavocats.fr\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/dmitrij-paskevic-YjVa-F9P9kk-unsplash.webp\",\"datePublished\":\"2026-09-11T10:17:39+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/2026\\\/09\\\/11\\\/foreign-buyer-sarl-agrement-refused-three-month-buyout\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/2026\\\/09\\\/11\\\/foreign-buyer-sarl-agrement-refused-three-month-buyout\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/2026\\\/09\\\/11\\\/foreign-buyer-sarl-agrement-refused-three-month-buyout\\\/#primaryimage\",\"url\":\"https:\\\/\\\/kohenavocats.fr\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/dmitrij-paskevic-YjVa-F9P9kk-unsplash.webp\",\"contentUrl\":\"https:\\\/\\\/kohenavocats.fr\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/dmitrij-paskevic-YjVa-F9P9kk-unsplash.webp\",\"width\":3464,\"height\":2309},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/2026\\\/09\\\/11\\\/foreign-buyer-sarl-agrement-refused-three-month-buyout\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The SARL Refuses to Approve the Transfer to a Foreign Buyer: Three-Month Buyout, Expert Price and Who Can Attack the Agr\u00e9ment\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/\",\"name\":\"Kohen Avocats\",\"description\":\"Ma\u00eetre Reda Kohen, attorney specialized in real estate and business law in Paris, advises and assists companies and individuals in their real estate, commercial and contractual transactions. He also handles real estate litigation and the resolution of complex commercial disputes.\",\"publisher\":{\"@id\":\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/#organization\",\"name\":\"Kohen Avocats\",\"url\":\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/kohenavocats.fr\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Logo-2-1.webp\",\"contentUrl\":\"https:\\\/\\\/kohenavocats.fr\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Logo-2-1.webp\",\"width\":2114,\"height\":1253,\"caption\":\"Kohen Avocats\"},\"image\":{\"@id\":\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/#\\\/schema\\\/person\\\/6254a643e6239d803134a01c800381bd\",\"name\":\"Kohen\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/1c5e76ef76bbbfdd2b4da984e2bf2fa4056fd51a27d25ce2c332047f1dfd6e00?s=96&d=identicon&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/1c5e76ef76bbbfdd2b4da984e2bf2fa4056fd51a27d25ce2c332047f1dfd6e00?s=96&d=identicon&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/1c5e76ef76bbbfdd2b4da984e2bf2fa4056fd51a27d25ce2c332047f1dfd6e00?s=96&d=identicon&r=g\",\"caption\":\"Kohen\"},\"url\":\"https:\\\/\\\/kohenavocats.fr\\\/en\\\/author\\\/kohenmlk\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"The SARL Refuses to Approve the Transfer to a Foreign Buyer: Three-Month Buyout, Expert Price and Who Can Attack the Agr\u00e9ment - Ma\u00eetre Reda Kohen, Real Estate and Business Law Attorney in Paris","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/kohenavocats.fr\/en\/2026\/09\/11\/foreign-buyer-sarl-agrement-refused-three-month-buyout\/","og_locale":"en_US","og_type":"article","og_title":"The SARL Refuses to Approve the Transfer to a Foreign Buyer: Three-Month Buyout, Expert Price and Who Can Attack the Agr\u00e9ment","og_description":"A French SARL refuses agr\u00e9ment for a foreign buyer. How the three-month buyout, the 1843-4 price and the 11 February 2026 Cour de cassation on defective agr\u00e9ment actually work.","og_url":"https:\/\/kohenavocats.fr\/en\/2026\/09\/11\/foreign-buyer-sarl-agrement-refused-three-month-buyout\/","og_site_name":"Ma\u00eetre Reda Kohen, Real Estate and Business Law Attorney in Paris","article_published_time":"2026-09-11T10:17:39+00:00","author":"Kohen","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Kohen","Est. reading time":"17 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/kohenavocats.fr\/en\/2026\/09\/11\/foreign-buyer-sarl-agrement-refused-three-month-buyout\/#article","isPartOf":{"@id":"https:\/\/kohenavocats.fr\/en\/2026\/09\/11\/foreign-buyer-sarl-agrement-refused-three-month-buyout\/"},"author":{"name":"Kohen","@id":"https:\/\/kohenavocats.fr\/en\/#\/schema\/person\/6254a643e6239d803134a01c800381bd"},"headline":"The SARL Refuses to Approve the Transfer to a Foreign Buyer: Three-Month Buyout, Expert Price and Who Can Attack the Agr\u00e9ment","datePublished":"2026-09-11T10:17:39+00:00","mainEntityOfPage":{"@id":"https:\/\/kohenavocats.fr\/en\/2026\/09\/11\/foreign-buyer-sarl-agrement-refused-three-month-buyout\/"},"wordCount":3495,"publisher":{"@id":"https:\/\/kohenavocats.fr\/en\/#organization"},"image":{"@id":"https:\/\/kohenavocats.fr\/en\/2026\/09\/11\/foreign-buyer-sarl-agrement-refused-three-month-buyout\/#primaryimage"},"thumbnailUrl":"https:\/\/kohenavocats.fr\/wp-content\/uploads\/2024\/08\/dmitrij-paskevic-YjVa-F9P9kk-unsplash.webp","articleSection":["D\u00e9cryptage","Doing Business in France"],"inLanguage":"en-US","citation":"The SARL Refuses to Approve the Transfer to a Foreign Buyer: Three-Month Buyout, Expert Price and Who Can Attack the Agr\u00e9ment","about":[{"@type":"Thing","name":"D\u00e9cryptage"},{"@type":"Thing","name":"Doing Business in France"}],"dateModified":"2026-09-11T10:17:39+00:00","speakable":{"@type":"SpeakableSpecification","cssSelector":[".article-content > p:first-of-type"]}},{"@type":"WebPage","@id":"https:\/\/kohenavocats.fr\/en\/2026\/09\/11\/foreign-buyer-sarl-agrement-refused-three-month-buyout\/","url":"https:\/\/kohenavocats.fr\/en\/2026\/09\/11\/foreign-buyer-sarl-agrement-refused-three-month-buyout\/","name":"The SARL Refuses to Approve the Transfer to a Foreign Buyer: Three-Month Buyout, Expert Price and Who Can Attack the Agr\u00e9ment - Ma\u00eetre Reda Kohen, Real Estate and Business Law Attorney in Paris","isPartOf":{"@id":"https:\/\/kohenavocats.fr\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/kohenavocats.fr\/en\/2026\/09\/11\/foreign-buyer-sarl-agrement-refused-three-month-buyout\/#primaryimage"},"image":{"@id":"https:\/\/kohenavocats.fr\/en\/2026\/09\/11\/foreign-buyer-sarl-agrement-refused-three-month-buyout\/#primaryimage"},"thumbnailUrl":"https:\/\/kohenavocats.fr\/wp-content\/uploads\/2024\/08\/dmitrij-paskevic-YjVa-F9P9kk-unsplash.webp","datePublished":"2026-09-11T10:17:39+00:00","breadcrumb":{"@id":"https:\/\/kohenavocats.fr\/en\/2026\/09\/11\/foreign-buyer-sarl-agrement-refused-three-month-buyout\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/kohenavocats.fr\/en\/2026\/09\/11\/foreign-buyer-sarl-agrement-refused-three-month-buyout\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/kohenavocats.fr\/en\/2026\/09\/11\/foreign-buyer-sarl-agrement-refused-three-month-buyout\/#primaryimage","url":"https:\/\/kohenavocats.fr\/wp-content\/uploads\/2024\/08\/dmitrij-paskevic-YjVa-F9P9kk-unsplash.webp","contentUrl":"https:\/\/kohenavocats.fr\/wp-content\/uploads\/2024\/08\/dmitrij-paskevic-YjVa-F9P9kk-unsplash.webp","width":3464,"height":2309},{"@type":"BreadcrumbList","@id":"https:\/\/kohenavocats.fr\/en\/2026\/09\/11\/foreign-buyer-sarl-agrement-refused-three-month-buyout\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/kohenavocats.fr\/en\/"},{"@type":"ListItem","position":2,"name":"The SARL Refuses to Approve the Transfer to a Foreign Buyer: Three-Month Buyout, Expert Price and Who Can Attack the Agr\u00e9ment"}]},{"@type":"WebSite","@id":"https:\/\/kohenavocats.fr\/en\/#website","url":"https:\/\/kohenavocats.fr\/en\/","name":"Kohen Avocats","description":"Ma\u00eetre Reda Kohen, attorney specialized in real estate and business law in Paris, advises and assists companies and individuals in their real estate, commercial and contractual transactions. He also handles real estate litigation and the resolution of complex commercial disputes.","publisher":{"@id":"https:\/\/kohenavocats.fr\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/kohenavocats.fr\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/kohenavocats.fr\/en\/#organization","name":"Kohen Avocats","url":"https:\/\/kohenavocats.fr\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/kohenavocats.fr\/en\/#\/schema\/logo\/image\/","url":"https:\/\/kohenavocats.fr\/wp-content\/uploads\/2024\/05\/Logo-2-1.webp","contentUrl":"https:\/\/kohenavocats.fr\/wp-content\/uploads\/2024\/05\/Logo-2-1.webp","width":2114,"height":1253,"caption":"Kohen Avocats"},"image":{"@id":"https:\/\/kohenavocats.fr\/en\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/kohenavocats.fr\/en\/#\/schema\/person\/6254a643e6239d803134a01c800381bd","name":"Kohen","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/1c5e76ef76bbbfdd2b4da984e2bf2fa4056fd51a27d25ce2c332047f1dfd6e00?s=96&d=identicon&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/1c5e76ef76bbbfdd2b4da984e2bf2fa4056fd51a27d25ce2c332047f1dfd6e00?s=96&d=identicon&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/1c5e76ef76bbbfdd2b4da984e2bf2fa4056fd51a27d25ce2c332047f1dfd6e00?s=96&d=identicon&r=g","caption":"Kohen"},"url":"https:\/\/kohenavocats.fr\/en\/author\/kohenmlk\/"}]}},"_links":{"self":[{"href":"https:\/\/kohenavocats.fr\/en\/wp-json\/wp\/v2\/posts\/2119483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kohenavocats.fr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kohenavocats.fr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kohenavocats.fr\/en\/wp-json\/wp\/v2\/users\/251031309"}],"replies":[{"embeddable":true,"href":"https:\/\/kohenavocats.fr\/en\/wp-json\/wp\/v2\/comments?post=2119483"}],"version-history":[{"count":0,"href":"https:\/\/kohenavocats.fr\/en\/wp-json\/wp\/v2\/posts\/2119483\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kohenavocats.fr\/en\/wp-json\/wp\/v2\/media\/4188"}],"wp:attachment":[{"href":"https:\/\/kohenavocats.fr\/en\/wp-json\/wp\/v2\/media?parent=2119483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kohenavocats.fr\/en\/wp-json\/wp\/v2\/categories?post=2119483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kohenavocats.fr\/en\/wp-json\/wp\/v2\/tags?post=2119483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}