So, you have decided to start a business. Have you ever considered starting a business using an aged shelf company? An aged shelf company is an aged corporation that has more credibility than a brand-new corporation due to its history of longevity. It is kept on the shelf to age and is dormant without any credit history whatsoever.
If you are wondering how to start a business using an aged shelf company, do not worry. We have got you covered to help you with your business.
Choose a business type.
If you are incorporating in the US, you might have known about four main types of companies. These are Partnership, S-Company or C-Company, Sole Proprietorship, and Limited liability company or LLC. To minimize the risk of involving personal assets with your business we recommend that you go for an LLC. It has a very flexible structure.
Decide on a state to incorporate
Every state has different business laws, and you need to find a state that suits your business’s needs and wants. Wyoming is a popular choice among business owners due to its business-friendly nature. Especially if you are a non-resident, and you plan to operate your business outside the U.S, then Wyoming is your best option. Although it is suggested that you incorporate your business in your home state, you can always incorporate it in other business-friendly states by hiring a registered agent to receive important documents.
Get your shelf company
You need to find out how old you need your company to be. Remember the older the company is, the more credible it is in front of investors. Older shelf companies are also more expensive but worth the investment. Make sure that the shelf company is clean and has no financial records.
Purchase and sign the transfer agreement
Now that you have found your shelf company, you can negotiate with your supplier. Once purchased, you will have to sign the transfer agreement. Sign the contract of sale so that the shares of the company get transferred to you and also register yourself as the director.
Change the business name and registered address
You need to come with an eye-catching unique name for your business company or stick to the name you received the shelf company with. You will also have to change the registered office address of the shelf company after purchase. Make sure that you do not skip this important step, or you can get charged for using someone else’s address.
Start looking for funds
Shelf Corp Giant’s funding roadmap will help you understand what can and can’t be done with shelf corporations. With their funding roadmap, you will be able to ready the company to acquire funds and approach investors.
To conclude, starting a business can be very difficult, but an aged shelf company can ease this process. If you are unaware of how a shelf company works, then you needn’t worry. Shelf Corp Giant can help you with your shelf corporation with its various programs. Contact us for assistance today!