Can I Buy a Ready-Made Offshore Company and Change Its Name?

What are "ready-made" or "shelf" offshore companies?

Shelf companies, otherwise called ready-made companies, are offshore companies that have already been enrolled by the registered agent and are anticipating "on the shelf" until they are moved to an interested customer. The principle motivation behind a ready-made company is to save time that would usually be spent on experiencing the full registration cycle of another registration.

Another purpose behind buying a shelf company is an intermittent need for an offshore company that has already been in lawful presence for quite a while – for formalizing a current de-facto deal, or for absolutely having a company that already has some age. A variety of this alternative is the so-called "aged" or "vintage" company.

A vintage company may have been held for at least one year "on the shelf" before the deal. A purchase of vintage or aged company is defended when there is a genuine need to show that the company has really been in a legitimate presence for an extended period of time.

While a conventional shelf company would, for the most part, cost equivalent to new incorporation, a vintage company will consistently be considerably more costly – on the grounds that the government charges, registered office, and registered agent expenses for all the earlier years since the enlistment would need to be secured on head of the standard incorporation and document arrangement expenses.

Shelf companies are ensured by the registered agent to have no "history" at all – they have been dormant since incorporation, with records never leaving the registered agents' office. To this degree, composed guarantees can generally be given by the registered agent, whenever required.

Follow the guide to learn about setting up an offshore company as well as opening an offshore bank account to enjoy the benefits.

[Read: How to Trade Digital Assets Using Offshore Company?]

Can I buy a ready-made company?

The laws of offshore nations don't need that directors or investors be available during a company's incorporation. This way, legal firms that sell and give support to offshore companies may enlist 'shelf' companies and afterward offer them to people in general.

A customer who purchases a ready-made company may have confidence that the company has not been associated with any business exercises whatsoever.

Is it understandable to change a company's name?

Indeed. The proprietor of the company may at his own discretion change the company's name. This should be possible by a unique goal of the director or in some other manner specified by the company's charter. The respective notification must be sent to the registrar.

At the point when the registrar is satisfied that all legitimate necessities have been met, the person in question will record the pertinent changes in the register and issue another testament of incorporation. The difference in name gets active on the date shown on the new certificate of authentification.

What documents will you receive when you purchase a ready-made company?

The list mentioned below states the documents that you will be going to receive when you buy a ready-made offshore company:

  • Certificate of Incorporation
  • Four printed duplicates of the Memorandum and Articles of Association
  • Minutes and Register of Members
  • Free Combined Register including Share Certificates
  • Certificate of Non-Trading
  • Share Transfers
  • All Government Registration Documents

[Read: How to Buy a Shelf Company in Hong Kong?]

How would I customize a shelf company?

At the point when you purchase a shelf company, a process starts to change the principal director(for shelf companies, this is a chosen one named by an enlisted agent). The new director will be the individual designated by the customer.

At that point, the recently selected director will direct the principal issue of shares.

When does it make sense to compose your own 'tailor-made' offshore company contrary to purchasing a shelf company?

Another 'customized' offshore company will commonly be an alternative when there are extraordinary prerequisites to the company's name or when the customer needs an offshore company with a specific date of registering.

For this situation, you will, obviously, need to sit tight for(lose) some time until all the corporate reports are ready.

Advantages of purchasing a Ready-Made Offshore Company

  • Lift your business with a built-up company – unwavering quality accompanies a mature company, including commercial credibility, consoling for your customers.
  • Build up business connections effectively – business and banking connections are effortlessly settled with a more established company.
  • Gain certainty from clients – new and existing customers will feel more sure managing with you, as your company will have a set of experiences.
  • Straightforwardness and spare time – the cycle is fundamental, and straight forward, shelf companies are quickly accessible to transfer over to you to start trading with the company.

[Read: Transfer of Ownership of an Onshore to an Offshore Company.]

Conclusion

The above is not in any way a comprehensive guide for a straightforward solution. Many complex variables are encompassing this theme because each case is extraordinary.

Business Setup Worldwide is a solitary platform having the answers for each one of your questions. Contact us today for any inquiries. We would be happy to help.

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