Shell Company For Sale: Instant Company For The Taking

Shell Company For Sale: Instant Company For The Taking

Living In The Instant Gratification Age Seems Appropriate For Instant Companies

Today, company registration is on the increase as entrepreneurs take advantage of many business opportunities. Any company registration can be done on your own, or through a registered filing agent. Singapore is known as a smart city and the ease of doing business right from the start until the end. With such a business friendly environment, any entrepreneur can easily setup a company. But what is more interesting is that instant companies are waiting for new owners. AI Accountant Accounting Manager Chai Chung Hoong shares what encompasses shell companies and what you need to know to go about buying a shell company for sale.
 

IN A SHELL

A shell company in Singapore is incorporated in advance without any business activities. Shell company are put up for sale for business people who need a company instantly. The incorporation of a shell company is like how a private limited company would register in Singapore. The following is the regular profile of a shell company:

  • Incorporated as a Singapore private limited company
  • Formed with a single shareholder with one share
  • Minimum paid-up capital is S$1
  • Registered with a local registered address
  • Appointment of local company secretary or service provider can act as the company secretary
  • Selection of a nominee director for the shell company by the service provider

If you happen to have a suitable local director already, then you may opt-out the nominee director services. But this is not usually the case if you are buying a shell company. A business person that purchase a shell company often needs an instant company ready for business matters. With a shell company, the entrepreneur probably stumbled upon a business opportunity that cannot wait.
 

Shell Company For Sale: Instant Company In Singapore For The Taking

 

CONVENIENCE IN A SHELL

All shell companies are companies set up entirely according to the Companies Act. However, it does not engage in any business activities, hence, no liabilities whatsoever. It is also the fastest way to become a new owner of a company.
 

GET A SHELL COMPANY

The process of buying a shell company is straight forward. What is needed are particulars of the new owner or shareholder and appointment of a company director. If you do not have one, you may contact the nominee director service provider to appoint it for your shell company. It is advised to read and understand every bit of the company before you decide to buy it. Usually, the name of the company cannot be changed, but some service provider may offer a company name change for a token fee. Once all that is sorted, the buyer will be getting the complete set of documents about the shell company. These documents include Certificate of Incorporation, Certificate of Memorandum and Articles of Association (M&A) as well as a share certificate. The service provider may also assist in opening a Singapore bank account. Within an hour of paying it in full, the transfer of ownership will begin. After that, you are the new owner of a company. That’s it. If you find that it is too good to be true, why not get in touch with Mr Chai Chung Hoong of AI Accountant to discuss matters in person.



Posted on October 18, 2019 by Easy Buy Sell Business in Blog