Three Things To Know When Purchasing An Aged Corporation

A shelf, or is a company that was organizationally formed and then left to “age”. After the corporation has aged, it is usually someone who wants the aged corporation for sale to avoid the time-consuming and costly process of starting his or her own business. When a shelf corporation is bought through a company like, the shelf corporation is at least 2 years old. This is important because a company with a 2-year history appears to be an established business; therefore, it is more attractive to potential creditors, business partners and clients. However, to make sure everything goes smoothly, there are 3 questions that you should know the answers to before purchasing a shelf corporation.
Do I Need A Federal Tax Identification Number?
A Federal Tax Identification Number, or Tax ID #, is sometimes called an Employer Identification Number (EIN). This number identifies a business just like a Social Security Number identifies a person. If you want to engage in the fundamental tasks that will get your business off the ground, like hiring employees or opening up a business bank account, you need to get a Tax ID #. Fortunately, when you purchase a shelf corporation through, you get one for free. After the agents at review your purchase, you will be issued a Tax ID #.
What Is A Registered Agent, And Do I Need One In The State of Incorporation?
A registered agent is a business or individual chosen to receive service of process (SOP) when a business is part of any legal action like a summons or lawsuit. You do need a registered agent in the state where your shelf corporation is incorporated. Wholesale Shelf Corporations will provide you with a free registered agent for 30 days after the purchase date, but then you will need to pay for an agent for the rest of the year.
Do I Need To Do A Foreign Registration Of The Shelf Corporation In My Home State?
It isn’t required and some people choose to use a virtual office address as their home address instead. However, after the helpful representatives at Wholesale Shelf Corporations review your purchase, they will likely recommend that you do a foreign entity registration in your home state. This will make it easier to obtain credit and open bank accounts in your home state.