“Shelf” or Ready-made, companies are IBC`s, already incorporated.
Shelf companies have not done any business, have not entered into any dealings or obligations whatsoever. As the name suggests, the incorporation documents of these IBC`s have been kept “on the shelf” , without any practical usage whatsoever.
By choosing a shelf company over a new incorporation several benefits can be achieved:
- Quick delivery times can be achieved, because the incorporation process has already been completed;
- An IBC with an older registration date may be acquired, which may be useful by adding a certain “age” and, therefore, respectability to the IBC;
- There is no need to go through the frustrating task of thinking-up an original company name, as one can choose from an existing list and perhaps find a suitable name without much thinking.