Benefits of a Shelf Company

A shelf company, also known as a ready-made company, offers several significant advantages for entrepreneurs and businesses:

• Immediate Operation: Shelf companies are pre-registered entities that can be operational immediately after purchase, allowing businesses to start activities without the delay of setting up a new company from scratch.

• Time-Saving: Acquiring a shelf company bypasses the lengthy and often complex process of incorporation, saving valuable time that can be better spent on business development and operations.

• Business Expansion: Utilizing a shelf company provides a quick and efficient way to expand a business. This is especially beneficial for entering new markets or launching new products and services rapidly.

• Established History: Many shelf companies come with an established corporate history, which can enhance the credibility of a business. This established history can be advantageous when dealing with banks, investors, and clients, as it suggests stability and reliability.

• Simplified Compliance: Shelf companies often come with pre-completed compliance requirements, reducing the initial administrative burden. This allows businesses to focus more on strategic operations rather than initial regulatory compliance.

• Flexibility: Shelf companies can be adapted to various business needs, providing a flexible foundation for different types of business activities and structures.

Shelf Company Transfer Service Details

• Change of Company Name: Facilitate the update of the company name to reflect new ownership or branding, ensuring compliance with legal requirements.

• Appointment of a New Director: Manage the appointment of new directors, handling all necessary documentation and filings with relevant authorities.

• Modification of Business Activities: Assist in adjusting the company’s business activities to align with strategic business development plans, securing required approvals.

• Change of Registered Address: Handle the update of the company’s registered address, including preparation and submission of all requisite paperwork.

• Transfer of Company Shares: Oversee the transfer of shares to new shareholders, ensuring a smooth and legally compliant transition of ownership.

• Bank Account Assistance: Provide comprehensive support in opening a Singapore bank account for the company, leveraging relationships with major banks to expedite the process.

• Provision of Company Documents: Supply all necessary company-related documents, including updated incorporation certificates, director resolutions, and shareholder agreements, ensuring the client has all required documentation for their records and operations.

Documents Needed for Shell Company Purchase

Personal Information of New Shareholders:

• Shareholders can be natural persons or corporate entities.

• Natural person shareholders are not restricted by nationality and can also serve as directors.

• Corporate shareholders are not restricted by place of registration.

Personal Information of New Directors:

• A Singapore company must have at least one director.

• Foreigners setting up a company in Singapore must appoint at least one Singapore resident director (a "nominal director"), which can be provided by Move2SG.

Post-Transfer Follow-Up Work

Set Up a Corporate Bank Account:

• After acquiring a shelf company, customers can promptly open a corporate bank account in a Singapore bank. Move2SG offers services to facilitate this process, ensuring swift and efficient account setup.

Office and Communication Services:

• Shared Office: We provide rental services for shared office spaces with flexible terms of 3, 6, and 12 months.

• Virtual Phone Services: We offer two types of virtual phone services: unanswered Singapore fixed landline and global call forwarding, ensuring seamless communication for your business.

• Mail Forwarding Service: Our mail forwarding service ensures that all your important correspondence reaches you, regardless of your location.

Trademark Registration:

• Move2SG assists in registering trademarks to protect your brand identity and intellectual property, providing comprehensive support throughout the registration process.

Statutory Audit for Singapore Companies:

• From January 1, 2018, companies with operating income, total assets, or employee numbers meeting certain thresholds are required to undergo a statutory audit. Move2SG facilitates the appointment of qualified auditors to ensure compliance with these requirements.

Annual Reporting:

• In compliance with Singapore's annual reporting system, companies must submit annual financial reports and "annual reports" within 18 months of incorporation. Move2SG offers detailed reporting services to meet these obligations.

Visa Services:

• Singapore welcomes foreign talent. Move2SG assists in securing the necessary visas for foreign individuals looking to work and reside in Singapore, helping them explore and establish their presence in the local market.

Accounting Services:

• Move2SG provides comprehensive accounting services, including bookkeeping, financial reporting, and compliance with local tax regulations, ensuring that your company's financial affairs are accurately managed and compliant with statutory requirements.

Contact Move2SG

Move2SG provides comprehensive support throughout the process of transferring ready-made shelf companies in Singapore. Our services include:

• Assisting in the preparation and submission of all required documents.

• Ensuring compliance with all legal and regulatory requirements.

• Offering expert guidance to ensure a smooth and efficient transfer process.

For personalized support and expert advice, please contact us.