A Cyprus Shelf Company is a ready-made company which has no assets or liabilities and has never conducted business as it is registered with the sole purpose of being sold.
All Shelf Companies have been dormant since the date of their incorporation. Once the Company will be sold, the ownership of the Shelf Company will be transferred from the nominee shareholder to the owner / purchaser by transferring the shares directly to the owner or by issuing a Declaration of Trust (if the shares will continue to be held in the name of a nominee shareholder, for and on behalf of the owner, depending on the client's requirements.
Savva & Associates supplies all Shelf Companies with a guarantee of having no assets or liabilities and never having conducted any business. Our aim is to make purchasing a ready made company in a simple and time-efficient manner, subject to compliance with applicable laws and regulations.
A Shelf Company is the fastest way of getting a business up and running. We can appoint the new directors and/or shareholders almost immediately, depending on the Registrar of Companies' workload.
Advantages of a Cyprus Shelf Company
Taking ownership of a ready made Shelf Company is generally much faster than setting a company up from scratch. Documents confirming the new appointments of the Shelf Compnay can often be provided within 2-3 business days, always depending on the Registrar of Companies workload, and prove to be a large advantage where time is an important factor.
We have various ready-made companies; such off-the-shelf companies which have been incorporated by us and all their records are kept at our office. Our clients can purchase a ready-made company with a nominee director and nominee shareholder appointed. Our clients can also choose to appoint their own persons as company director, secretary and shareholder.
For clients who are interested in registering a company in Cyprus and time is of the essence, we also maintain a list of pre-approved names which have been reserved for registration with the Companies Registrar, but have not commenced their legal existence yet, as they have not yet been incorporated. This will allow us to speed up the formation of a new Cyprus company formation, thus avoiding the sometimes time-consuming procedure of approving a corporate name. It should be noted that the corporate name can be changed at any future time.
Savva & Associates has a list of ready-made companies available for purchase. If you would like a list of our Shelf Companies and name approvals, please contact us.
