ACQUISITION OF SHELF COMPANIES

For businesses that intend to set up in Singapore and yet do not wish to go through the entire incorporation process, acquiring a shelf company will be a good option.

A shelf company is formally registered but has not conducted business before and holds no assets or liabilities. The company is registered to be kept in a ‘shelf’, until it is bought over.  Shelf companies come with a name, statutory documents, corporate bank account and tax registration number, which means it can commence operations immediately.

The main advantage a shelf company is saving time, fewer risks and anonymity with the business registration.