What is a shelf company ?
Off the shelf or ready made offshore companies are corporate entities that have been established by a provider, who holds the company until a purchaser is found. Post transaction, the ownership of the company transfers from the provider to the third party, who then commences trading activity under the company name. The benefits of purchasing an offshore shelf company includes:
- To the time it would take to create a new corporation
- To allow contract bidding (some jurisdictions require a fixed business age to allow this functionality)
- To create the appearance of corporate longevity
Note : shelf offshore companies are usually more expensive than newly incorporated companies because of their age.
Should you require a shelf company with another date of incorporation, or from another jurisdiction, please contact us and we shall do our best to find a match.
Bank Account : please note that our offshore shelf companies do not have ready-made bank account associated with them. The reason being, every bank must know the ultimate Beneficial Owner (BO) of the account , therefore, changing the BO on an existing bank account will take more time than opening a new bank account for the company. Some firms do sell companies with bank account, but this is to attract customers, which in turn will have to spend more time amending the bank account final ownership structure.We therefore recommend to open a new bank account, which can be processed in a couple of days.