Many clients often enquire and ask if it is possible to buy “off the shelf” company and don’t always know which type of company they really need. I thought I could write this blog explaining approved name companies, shelf companies and aged companies, to help you understand the differences.
Approved Name Company is a company which is ready to be incorporated as the name for it has been checked with the according Registry and approved. Hence using such company saves some time, the time which can be 1 day or more.
In some jurisdictions, like BVI, name check procedure is very simple and fast, while in other jurisdictions, like Seychelles this can take longer, due to the procedures laid out by the according bodies.
Shelf Company is a company that has no activity, no history, is simply registered. It can be a shelf company which is newly registered or a shelf company which is aged, meaning it has been registered year or years ago.
Aged Company benefits some certain business ventures, since years of existence may be very advantageous. And remember - the older the business the more credible it appears!
In both cases, these companies are dormant, left on the shelf to age, waiting to be purchased and used.
Turn Key Solution is specific product that we offer exclusively, which is a ready-made shelf company with an already opened bank account. This is the kind of package which really can save time.
All in all offshore incorporations are fairly quick procedure, the period varies depending on jurisdiction, but in general it is somewhere between 3 to 10 working days.
There are cases, when even the one or two days are somewhat crucial, if so, you need to look into the above options. If time is the only concern, then probably Turn Key, approved name or newly registered shelf company may be sufficient for you. If you need a company that would appear to have certain registration years, then you need to search for some aged companies.
When you plan to purchase a shelf company, it is important to confirm that that company has no history, and really was dormant while on shelf. And remember that aged companies usually have higher fees, since each year upholding and government fees are calculated.
Thank you for reading my post! And you are welcome to leave comments, feedback, suggestions for other posts or contact me for more information.
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