Aged Offshore Shelf Companies

A Quick Start: Incorporate your offshore shelf company to get that new business idea going, now that the funds are available and the right opportunity has presented itself, or to enter a new market,...

How to Choose an Offshore Jurisdiction?

Legislation Legislation for offshore companies in the jurisdiction that you acquire an offshore shelf company should be progressive, modern and thorough. In many jurisdictions, you find that the...

Offshore Shelf Company Incorporation

To purchase an offshore shelf company you are first required to choose a licensed offshore financial service provider through whom offshore shelf company incorporation services are obtained. These...

Offshore Shelf Company Incorporation

To purchase an offshore shelf company you are first required to choose a licensed offshore financial service provider through whom offshore shelf company incorporation services are obtained. These service providers are usually known as registered agents are a legal requirement when incorporated, since they are appointed with the government on behalf of international customers doing offshore business in the jurisdiction.

For an offshore shelf company, the registered agent serves as the intermediary between the relevant government authorities and the customer. Registered agents for offshore shelf companies are used for the service of process which legally is a function of every registered agents, whilst a registered office is provided for the offshore shelf company for the receipt of mail and corresponding. Post and electronic mail are made available to the offshore shelf company depending on the mailing facilities that the registered agent is equipped with and the arrangement planned between the two. In this way, the offshore shelf company is able to effectively handle international correspondence and use an additional office apart from the office established in the country of domicile. Before purchasing an offshore shelf company, the owner must try to first ensure that he is doing business with a company that has sound reputation and capable of providing professional, reliable services.

The availability of a company name for an offshore shelf company becomes part of the process only if the owner decided to change the existing name of the shelf company and have it changed. This is done with the Registrar, and the name chosen for the company must be unique, cannot be misleading to the public or should not be restricted from being use if it includes words like ‘bank’, ‘insurance’, ‘building society’, ‘royal’, ‘chamber of commerce’ or ‘government’.

In order to prepare all relevant documents, the new owners of the offshore shelf companies are required to submit valid copies of their passports, or national identification card and proof of address. Or alternatively, if a nominee is preferred the name and address of the nominee will appear on the relevant offshore shelf company documents. The Articles would have already been incorporated and would contain the original information, including share capital, recorded when the offshore shelf company was registered. Any changes to the original constitution could result in charges as amendments to the Certificate of Incorporation and Memorandum and Articles, for example, must be formalized at the government registry. Along with the offshore shelf company constitution documents like the Certificate of Incorporation and Memorandum and Articles of Association, other formation documents include the register of directors, register of shareholders, power of attorney (if nominee was elected) and the minutes of the first meeting. The share register records the particulars of the respective shareholders and the value of the shares held by each. Any changes in shareholding, such as a shareholder ceasing to hold shares, the transfer, sale or purchase of shares to another shareholder of the offshore shelf company, or the addition of a new shareholder must be added to the register of shares. These amendments must be formalized through the registered agent in the jurisdiction where the offshore shelf company was incorporated and acquired. Likewise, the register of directors contains the particulars of each director and is required to formally record all changes to the offshore company’s directorship through the registered agent.

Once acquired and all relevant documentation have been issued, an offshore shelf company can be immediately used to do trade, hold assets or open offshore bank accounts.

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