I have 3 companies I’ve kept up that are currently not operating. Two that are 2 years, one 6.5yrs. Names of them do not matter as they’re registered in Oklahoma, and the name can easily be changed online for a $50 fee to Secretary of State. So change the name to whatever you want. Have equally aged Facebook pages for a 2 year and the 6.5yr. One company is a remodeling company and is registered with the gov as a veteran owned small business and to maintain that registration ownership has remain 51% owned by a veteran. Give me a holler.
We are not in the market of purchasing shelf companies. In fact, we have stopped selling our own shelf companies due to the additional costs and bureaucratic complexities.
What do I do if the shelf is in another state... But I want my state and address for credit reports and mailing? I don't want to lose the age. So if I do foreign entity registration in my state, will i lose age?
Hi there, in my experience the banks assess business loans on a case by case basis and the approval rates ultimately depends on the amount of risk associated with the business venture. The age of the business is just one of the metrics. My opinion is that if there is no cashflow in the business then they will require collateral. I hope this answers your question.
Hi Yung, yes you can. A shelf company is a separate (independent) legal entity (person) that can own or lease property, hire and fire people and has all the same legal benefits you and I have as natural persons.
Hello, thank you for the video. I wanted to find out as a foreigner. Can I also purchase that shell company? And also I did find out can I use your address as in the meantime, as they were just an address?
Hi Julius, Yes you can purchase a shelf company, however we do not allow the use of our premises as the registered address for the company. There are however businesses that offer such services e.g.. Regus or cubeworkspace.com
@@swiftreg Thank you please. So what would be my next step incase I have bought a valid company but I don’t have the 5m Rand to get a business visa to come over and do business. Could I get a short term visa first, then work on getting the long term one while in SA? Kindly advise
Hi Humphrey, yes you can. You are allowed to be a director and shareholders of as many companies as you like. Unless you are an employee of the South African government you are not allowed to be a director of a private company if that company conducts business with the State.
Hi Majdee, thank you for your comment, this video relates specifically to South African company law where ownership transfers are lodged with the South African Revenue Service (SARS)
I'm learning bout shelf companies
Thank you for watching the video
I have 3 companies I’ve kept up that are currently not operating. Two that are 2 years, one 6.5yrs. Names of them do not matter as they’re registered in Oklahoma, and the name can easily be changed online for a $50 fee to Secretary of State. So change the name to whatever you want. Have equally aged Facebook pages for a 2 year and the 6.5yr. One company is a remodeling company and is registered with the gov as a veteran owned small business and to maintain that registration ownership has remain 51% owned by a veteran. Give me a holler.
We are not in the market of purchasing shelf companies. In fact, we have stopped selling our own shelf companies due to the additional costs and bureaucratic complexities.
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Thank you, we appreciate your positive feedback
What do I do if the shelf is in another state... But I want my state and address for credit reports and mailing? I don't want to lose the age. So if I do foreign entity registration in my state, will i lose age?
Hi Alex, unfortunately it won't be possible to use a shelf company form one jurisdiction in another jurisdiction.
But can you get funding from a bank if they are looking for the time when you opened the bank accounts for your business?
Hi there, in my experience the banks assess business loans on a case by case basis and the approval rates ultimately depends on the amount of risk associated with the business venture. The age of the business is just one of the metrics. My opinion is that if there is no cashflow in the business then they will require collateral. I hope this answers your question.
If I buy a shelf company can I use it to lease a condo or buy real estate?
Hi Yung, yes you can. A shelf company is a separate (independent) legal entity (person) that can own or lease property, hire and fire people and has all the same legal benefits you and I have as natural persons.
Hello, thank you for the video. I wanted to find out as a foreigner. Can I also purchase that shell company? And also I did find out can I use your address as in the meantime, as they were just an address?
Hi Julius, Yes you can purchase a shelf company, however we do not allow the use of our premises as the registered address for the company. There are however businesses that offer such services e.g.. Regus or cubeworkspace.com
@@swiftreg Thank you please. So what would be my next step incase I have bought a valid company but I don’t have the 5m Rand to get a business visa to come over and do business. Could I get a short term visa first, then work on getting the long term one while in SA? Kindly advise
thanks
You're welcome!
Hy there...can I can a shelf company even I've registered for a company?
Hi Humphrey, yes you can. You are allowed to be a director and shareholders of as many companies as you like. Unless you are an employee of the South African government you are not allowed to be a director of a private company if that company conducts business with the State.
Brad Owen?
Sadly not, we aim to educate and empower entrepreneurs with relevant knowledge to help them succeed in business.
DNB will flag company as soon as they see the transfer of ownership.
Hi Majdee, thank you for your comment, this video relates specifically to South African company law where ownership transfers are lodged with the South African Revenue Service (SARS)