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Q1.WHAT’S SHELF COMPANY?
Some investors may want to start business quickly and use the company name to engage in commercial activities. Thus, we have registered a number of companies which have not commenced business and have no liabilities or debts for clients to purchase. These companies are regarded as Ready-made/ Shelf companies.
Q2.WHAT IS THE CHARACTERISTICS OF SHELF COMPANY?
Shelf Company always has the following characteristics:
It has Certificate of Incorporation, seal of company, stock certificate book and other documents required by law.
It does not have records of business activities.
The purchaser can make purchase only by supplying necessary documents.
Q3.IS THERE ANY POTENTIAL RISKS IN PURCHASING SHELF COMPANY?
Shelf Company is very common in most countries and regions, for example, Hong Kong, Singapore, British Virgin Islands (BVI), United State s of America (U.S.A.) and Cayman Islands. In general, Shelf Company doesn’t conduct business and open bank account prior to its disposal, so there is no potential risk in purchasing Shelf Company.
Moreover, when customers buy a shell company, the advisory service will issue a guarantee to prove that the company’s stock transfer has not been subject to any activity. Counselling services are also guaranteed for the transfer of all matters before the date on which responsibility starts to apply. Therefore, customers need not worry about any potential liability.
Q4.CAN SHELF COMPANY CHANGE THE NAME OF COMPANY?
Yes. Just as newly-incorporated company, the intended company name shall also be checked with Companies Registry , only if it is available, the Shelf Company can apply from Companies Registry for change of name. It will take about 7 workdays to alter name of Shelf Company.
Q5.CAN THE COMPANY INCREASE AUTHORIZED CAPITAL AFTER REGISTRATION?
Yes. It shall pay Stamp Duty of HKD1 for each increase of HKD1,000 in authorized capital. Later, it can allocate shares to new and old shareholders as required.
Q6.HOW MANY DIRECTORS CAN BE APPOINTED IN PURCHASING SHELF COMPANY?
At least one director is required for all Hong Kong Limited company, and you can appointed as many as you want.