Reasons to purchase a shelf company:
- The procedure is speedier than company incorporation
- Contract bidding (in certain countries companies are required to have a specific lifetime to be eligible for it)
- Long corporate duration attracts investors
- Access to corporate credit
The name of the company can be changed as long as it is approved by the registrar in the country of incorporation to confirm that it does not already exist. When the name is approved, then a board resolution is drafted and signed by the directors of the company and the new name is officially filed.
The directors of the company can also change as long as a board resolution is drafted and signed by the directors of the company. Whether the change of director is required to be officially filed with the company registry, depends on the country of incorporation, in some countries this is not necessary. The new director must submit:
- A copy of their passport
- Proof of permanent home address
- Telephone/fax number
- Email address
- Signed letter stating their wish to become a company director
The company shareholder can also change following the same procedure.
If you are looking for a shelf company registered at another date or jurisdiction, please contact us and we will try to find what you’re looking for.
You are notified that the Shelf Companies in our List do not have a bank account in their name. We do not open bank accounts for shelf companies because the information of the Ultimate Beneficial Owner (UBO) are always disclosed to the Bank as a prerequisite. In practice it is time consuming procedure to change the UBO of an open bank account and it is easier to open a new one.