When you have a brilliant idea to start a new business, sometimes you get turned off by the documentation process. This includes the hassle of registering a business from scratch. In this section, Chai Chung Hoong explains that there are Singapore shelf company for sale to start your business right away. All you need is a nominee director for due diligence.
Shelf company as the name says is business registered and left on the shelf to age. It goes through the same process of business registration except that it remains dormant. It is also called a ready-made company. Shelf companies exist for entrepreneurs with limited time for document processing and want to kick-off their business right away in compliance with the Companies Act section 410. Although these companies are not active, their status must remain unchanged. This means that as the company ages on the shelf, those acquired years or months add value to the company and have met all existing code and law, and no penalty.
Shelf company for sale must have the following when interested parties acquire it.
Its key attributes include:
When purchasing a shelf company for sale, most entrepreneurs are in it because of its advantages. The most obvious advantage is that the buyer does not need to go through the process of registering a new company. The purchaser can also start trading business operations right away. Another advantage of a shelf company is that it is mature with nonexistent liabilities as it has been inactive for years. Some clients or business partners prefer to deal with businesses that are established. This is where buying a shelf company for sale will be advantageous to your corporation. Banks are also more likely to provide financial assistance to older companies as it is assumed that established enterprise have better management.
Acquiring a shelf company in Singapore is easy. The interested buyer can get help from companies like AI Accountant to begin the process. The process is relatively straightforward. Bear in mind that, you, as the entrepreneur, is encouraged to be an active part of the registration process. This is to ensure you are aware of what you are getting yourself into. Nonetheless, you can always talk to experts like Mr Chai Chung Hoong, Account Manager from AI Accountant to help you with due diligence and discharge of duties.