A shelf company is a ready-made company legally registered within the Registrar of Companies (the relevant Authority for the establishment of Cyprus companies) which we keep without conducting any business activity. The company can be sold to any person or group of persons who wish to start a company and establish business immediately.
All Shelf Companies have been dormant since the date of their incorporation.
Once the Company is sold, the ownership of the Shelf Company will be transferred from the current shareholder to the owner/purchaser by transferring the shares directly to such person. Alternatively, you may choose to retain the services of the existing shareholder as a Nominee Shareholder.
The main benefit of buying a shelf company is that a business is established in as little as 24 hours, since the structure and name are pre-registered and you don’t have to wait for approval of its incorporation. It is ideal if you have an immediate agreement to sign and a company registration number is required and immediate apply for VAT registration if the company is not registered already.
In some cases, having an established company with a longer history can provide advantages when bidding for contracts or participating in certain business activities. Some jurisdictions or contracts may require a minimum period of incorporation before allowing companies to participate. A shelf company can meet this requirement immediately.
These shelf companies have a local persons as nominee director, as shareholder and another one as secretary. Cyprus Shelf Companies have also registered office in Cyprus according the company law provisions which is already provided by us.
Usually self companies have a number of pending actions to be taken or documents to be prepared.
IBCCS TAX keeps a number of ready made companies which would inquire to cover certain obligations such as Financial Statements for previous years, annual returns, annual levy and etc.
Reach out to us by clicking on the button here.
With respect to the directors, there is an option to retain the appointed director or appoint a new person of your choice. IBCCS TAX advises to appoint a local person as a director since is one of the criteria that determines the location of the tax-residence of the company itself.
A secretary of your choice may also be appointed. However, although it is not required by law for the secretary to be local Greek speaker, IBCCS TAX advises though for the purpose of efficiency and smooth operation of the Company, since the secretary will be directly liaising with the authorities in Greek language.
Any amendments to the directors and/or shareholders/secretary take approximately five (5) working days, depending on the Registrar of Companies’ workload. It should also be noted that the corporate name can be changed at any time.
Or receive brochure for specific topic
