In place of incorporating a new business, it is a suitable option to get a shelf company. A shelf corporation is a current company, which has been inactive since its establishment. Purchasing a shelf corporation does need a notarial endeavor; however, the transfer process takes less time compared to the incorporation process of a new business. Time is always the major benefit of purchasing a shelf corporation. Technically, you can easily get the ownership of a shelf corporation in just one day. However, the drawback is that shelf corporations are usually sold with a premium and this makes the possession of a shelf corporation more costly than obtaining a new one.
Many service providers have access to different parties in the marketplace from where you can easily buy shelf corporation. They underline that shelf corporations have a tax, legal as well as financial history. Sometimes, some vendors put shelf companies for sale which have been active in some business activities. In this case, you need to be very careful.
What can shelf company service providers do for you?
Mediation in the transferring process
Due diligence
Manage the process of share transfer
Choosing suitable offers in the market
Tax advise regarding the utilization of a shelf corporation
Help in contract consultation with the seller
Supervising the sales procedure
Handle potential tax acquiescence matters
Handle registration requirements
Advice on tax and corporate law issues related to the shelf corporation
The cost is considered to be the main factor in shelf companies. The vintage companies that have been there from ages will be costlier than new corporations. What you receive for your wealth is also vital to think about. If you are going to buy shelf corporation along with articles of incorporation, bylaws and all the important documents, you will need to pay a good sum of money, but you’ll be able to save your time to manage everything from your end. Other corporations will just provide less documentation and information, so they will charge you less but need more work to do.
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