|Company which is created under the company act 1956 and left free without any corporate tasks are known by shelf-company or can also be called by aged company. These companies generally established with the aim of selling in future to any group that saves their time while starting a company without following any of the legal formalities.
A shelf Company was registered and put on the "shelf" to age. These companies have no assets or liabilities and have never conducted business and were registered with the sole purpose of being sold.
A shelf company is the fastest way of getting a business up and running. We can appoint the new directors within a day, enabling you to open a bank account and to start trading almost immediately. In the present conditions, registering a company in India takes minimum two weeks time.
You can think of purchasing an already existing company from LEGAL babu and start operation immediately.
Advantages of Shelf Company:
• Gain the opportunity to bid on contracts instantly
• Ready to use company with Bank accounts and Tax registrations
• It saves time while complying legal formalities as it already accompanied.
• Many times several types of opportunities have been opened by the government or concern
• Authority only be reaped by companies with certain length of time can apply for the same.
• It also used to attract the potential market and face the corporate competition efficiently while
showing the longevity.
• Shelf companies can easily access to corporate credit.