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A shelf corporation in Canada is a company that is already formed and registered with the Canadian government. Shelf corporations are often used by businesses that want to establish a presence in Canada quickly and easily. These types of corporations can be a great way to get your business up and running in no time.
Purchasing or buying a shelf company is an intellectual and smart action. The firm does not need to go via any enrollment process that is usually time-consuming as shelf companies are prepared from all spheres to bring out business. This type of enterprise also helps individuals cut down on paperwork to set up companies. Usually, shelf corporations with a bank account in Canada or other established locations are bought mostly by law and accounting firms.
Older shelf businesses can be useful for acquiring asset protection rapidly, gaining access to contracts or leasing agreements, and incorporating after years of operating as sole proprietors. Not all shelf companies for sale are created equal. To protect you from potential responsibility, be skeptical of any seller who cannot confirm in writing that their inventory of shelf companies is clean, with all state fees current. A seller claiming to provide shelf firms with built-in corporate credit is not selling a clean company.
A shelf corporation is a company that is created and registered with the intention of being sold to an individual or group. The person who registers the company will pay an initial fee for registering the company and then pay a yearly renewal fee. The registration process can take anywhere from one day to six months, depending on how much information needs to be collected about the individual registering the company.
Setting up a company can be costly and time-consuming, especially for new entrepreneurs. Registering your company in British Columbia is not easy. You have to follow a legal procedure that may take 3-4 months to complete. Moreover, the age of your company affects your business and potential business associates such as buyers, creditors, suppliers, etc.
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