What is A Singapore Shelf Company? And What Are Its Advantages?

Shelf companies are business entities that are already established and waiting for a buyer to show up. Once a deal has been struck, the possession of the firm transfers to the buyer, who can immediately commence a trading business or sale of properties under the firm name.  AI Accountant Chai Chung Hoong will tell you how about the advantages of buying a shelf company. So what are the advantages of a shelf company:

  • shorten the time to start business operations compared to what would be required to create a new firm;
  • makes it possible for contract bidding, some territories require these organizations to be of at least a certain age to qualify; and also
  • the look of business age and longevity

Shelf companies however, are normally more costly than a freshly incorporated company as a result of ready-made status and their age. When deciding which option is the better choice for you, it is important to choose an experienced professional firm. Choosing AI Accountant Chai Chung Hoong can make the difference between business success and failure for you.

Advantages of Purchasing a Shelf Firm

The age of your company can affect the business you desire to carry out. The number of years a firm has been in existence might impact the confidence of the various parties that associate with the business such as customers, creditors or vendors serving a company. Therefore, shelf company on sales provides you the following advantages:

  • If you want to get a small business loan, business credit card, leases as well as other credit report centers, an aged company will be in much better standing than a brand-new incorporation
  • Having a company image and organization background may be important to you, the longer a firm has actually been in existence, the more reliable it is assumed to be
  • Distributors and manufacturers usually need a firm to have been in business for a particular amount of time before signing a contract
  • Aged company gives the image of durability might boost financier or customer confidence as well as enhancing your image
  • In many nations, government agreements might be granted to a business that has been trading for a variety of years – an aged company might be useful to secure these
  • Obtaining an Organization Visa or Job Permits for workers of the company is simpler for a aged company
  • To acquire easier accessibility to business credit

AI Accountant Chai Chung Hoong has 10 years accounting experience. He can show you more details about the advantages of Shelf Companies.

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