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.
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