How to use a shelf corporation to start a business?
Setting up a business can be a daunting task. Not only do you have to have to ensure your product/service satisfies your customer’s needs, you also have to navigate the complicated web of bureaucracy and raise adequate capital for your newly formed venture. In several States, this can be complicated and long drawn, preventing you from setting up your business immediately. However, there is a solution in the form of Shelf Companies. Companies that have been created and registered in advance, which you can then purchase to remodel to fit your own needs.
Shelf Corporations allow you to circumnavigate the complicated waiting and registration times, and allows you to create your new entity from the comfort of your home. Shelf Corporations also allow for a level of flexibility in regards to the entity being purchased: since you aren’t creating the entity and merely purchasing it from an indexed list, you are able to control things such as the State in which the Company has been registered (Wyoming and Texas are popular choices), as well as the duration for which the company has existed. These can range anywhere from half a year to 10 years, ensuring that any time-centric requirement you may have of this entity are fulfilled.
Shelf Corporations are also important in raising Credit:
Several Banks offer credit only to established entities which have crossed a certain age threshold in order to be able to raise loans. By purchasing a Shelf Corporation, you gain access to a larger pool of Banks to raise Credit from, allowing you to take loans from several reputed banks across the country. This also applies to other Businesses’ and Companies, which, similar to banks, set age thresholds in order to enter into partnerships: using a Shelf Corporation means you get to skip the waiting line and get a head start on raising capital for your venture. Shelf Corporations are also useful in building trust with consumers: consumers generally see age as a sign of quality and trust, which is useful in establishing a market for your product/service.
If you choose to purchase a Shelf Corporation registered in a state outside your home state, you will need to purchase a Foreign Entity Registration in your home state. This allows you to legally operate in any state of the Country, with no geographical restrictions (within the borders of the US). You will also need to obtain Business Licenses for the Aged Corporation in your Home State in this condition. This should cover all the requirements to start business in your home state using a Shelf Corporation.
All Aged Corporations come with an Employer Identification Number (EIN) (also known as a Federal Tax Identification Number) for Free, which is mandatory in order to open a business bank account or to hire employees. Furthermore, to help achieve your necessary funding, you can use the Corporate Credit Building & Funding Program (Also known as the 80 Paydex Program) at CorporateCashCredit.com to achieve a 80 Paydex Score with Dun & Bradstreet within a short while, and then on obtaining approvals for Unsecured Corporate Credit Cards with No Income and No Asset Verification. This means that you can easily launch into funding and sourcing credit for your newly established entity.
It should be noted that it is not recommended changing the name of the Shelf Corporation being purchased. Instead, merely registering the Shelf Corporation under the needed Trade name should be sufficient. Shelf Corporations allow for an easy and quick method of setting up a business, with added benefits such as larger Capital-Raising methods and better trust with Consumers. Whatever your need may be, Shelf Corporations are an ideal match for your new business!
