An Efficient Business Setup

In Singapore, purchasing a ready-made shelf company can be an efficient way to expedite the process of setting up a business. Shelf companies, also known as ready-made companies, are pre-registered companies that have no prior business activity and are available for immediate transfer to new owners. This guide will walk you through the detailed process of transferring a ready-made shelf company in Singapore.

Benefits of Acquiring a Shelf Company

• Immediate Business Operation: Since the company is already incorporated, you can start business operations immediately.

• Established History: Having an older incorporation date can enhance the company’s credibility with clients and financial institutions.

• Simplified Process: Avoid the lengthy process of company registration and documentation.

Steps to Transfer a Ready-Made Shelf Company

1. Choose a Reputable Provider

   Select a reputable service provider that offers ready-made shelf companies. Ensure they provide detailed information about the company, including its incorporation date, compliance status, and any potential liabilities.

2. Review Company Documents

   Obtain and review all relevant documents of the shelf company, including the Certificate of Incorporation, Memorandum and Articles of Association, and the company’s business profile from the Accounting and Corporate Regulatory Authority (ACRA).

3. Conduct Due Diligence

   Perform due diligence to ensure the company has no outstanding liabilities, legal issues, or compliance problems. Verify that the company has not conducted any business activities.

4. Prepare Transfer Documents

   Work with the service provider to prepare the necessary transfer documents. These typically include:

   • Share Transfer Form: To transfer shares from the current owner to the new owner.

   • Resolution of Shareholders: Approving the transfer of shares.

   • Updated Company Constitution: Reflecting the new ownership.

5. Submit to ACRA

   Submit the share transfer documents and updated information to ACRA. This will officially update the company’s records to reflect the new ownership.

6. Appoint New Directors and Company Secretary

   Appoint new directors and a company secretary if necessary. Ensure that at least one director is a Singapore resident.

7. Update Bank Accounts and Records

   Update the company’s bank accounts and financial records to reflect the new ownership. Notify the bank of the change in ownership and provide the necessary documentation.

8. Compliance and Ongoing Requirements

   Ensure the company complies with ongoing regulatory requirements, including annual filings, tax submissions, and maintaining proper corporate records.

How Move2SG Can Assist

1. Provider Selection: We help you choose a reputable provider offering compliant and reliable shelf companies.

2. Document Review: We assist in reviewing all necessary documents to ensure transparency and compliance.

3. Due Diligence: We conduct thorough due diligence to verify the company’s status and ensure there are no hidden liabilities.

4. Transfer Process: We manage the entire transfer process, including the preparation and submission of documents to ACRA.

5. Post-Transfer Support: We provide ongoing support to ensure the smooth operation of your newly acquired company, including compliance and administrative tasks.

Transferring a ready-made shelf company in Singapore can be a strategic move for entrepreneurs looking to quickly establish their business presence. By following the detailed steps outlined in this guide and leveraging the expertise of Move2SG, you can ensure a smooth and compliant transfer process. Let us help you navigate the complexities of acquiring a shelf company and set the foundation for your business success in Singapore.

For personalized support and expert advice, please contact us.