What is a Shelf Company?

 

Shelf companies are turnkey companies, incorporated by E&G Financial Group LLC, where we use the office as the final beneficiary until a buyer is found.

 

E&G buys off-the-shelf businesses in major jurisdictions to make them available to customers looking for older businesses or needing same-day businesses. It is important to emphasize, however, that E&G does not get involved with the incorporated company in any commercial activity. Furthermore, the shelf company has no real assets.

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As soon as the off-the-shelf business is purchased by a customer, ownership of the business will be transferred from E&G to the new owner, who can immediately start trading.

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Why use a Shelf Company?

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I. Start of commercial activities is faster:

Entrepreneurs who want to build their business faster can opt for an off-the-shelf company. The company will already be registered and established and requires only the change of officers' names. In most cases, this can be done electronically, which can only take a few hours, which is much faster than incorporating a new company. Once the directors' names are changed, the new business can begin trading immediately.

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Although the company has already been incorporated, E&G will still need to carry out due diligence.

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II. Reliability in business relationships:

Newly incorporated companies often face difficulties in doing business because customers and financial institutions prefer experienced tradelines. Some industries insist that a company must have been registered for a certain period of time before they will allow proposals to be accepted. A shelf company eliminates the chances of this happening.

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Using a shelf company can promote a long-standing image and prestige.

 

 

 

Are Shelf Companies Legal?

Yes, shelf companies are regular corporations. All shelf companies supplied by E&G are legally constituted. The main reason to buy an off-the-shelf company is the ability to show that the company has a track record or in situations where the customer wants the company open immediately.

 

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Can the shelf company name be changed?

Yes, all companies can change their name at any time, as long as the desired name is not registered with another company.

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How much does a shelf company cost?

Shelf companies vary in prices depending on time of incorporation and jurisdiction. They are sold at a premium price range due to the benefits they provide. Annual renewal of shelf companies are also subject to additional fees.

 

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If you would like a personalized quote for a shelf company, please contact us!