The state of Washington offers a lot of opportunities for business owners and is one of the best states in the U.S to incorporate your business. Washington does not levy a personal income tax and also provides a lot of incentives for start-ups and small businesses. As a business owner, you must know that the best way to incorporate in Washington is by purchasing a shelf company.
Before we get started on how Wholesale Shelf Corporations will benefit your business, let us look at what is a shelf corporation and how do they work.
What is a Shelf Corporation?
A Shelf Corporation is an already established business but has never traded or conducted no business. A shelf corporation has no liabilities or sets. In simple words, a shelf company is incorporated to put on the shelf to age, and age adds more credibility to a business. Shelf Companies showcase a history of longevity. Consumers and investors are more likely to trust a company with significant years of history than a brand-new company.
Why do you need a Shelf Corporation?
Here are a few reasons why you might require a Shelf Company
- Saves time
Since a Shelf Company is an already established company, you do not have to spend days wasting your precious time on handling lengthy paperwork and other formalities. Setting up a new corporation can take months. An already established company will come with readymade paperwork, and all the duties and formalities are already looked after when you buy a Shelf Corporation.
- Builds trust between investors and business owners
Most investors look for companies that are at least 2 years old before investing. Investors are more likely to invest in a company that has a significant history than invest in a brand-new company. Moreover, most companies are known to promote anniversaries of their company’s date of establishment. This is done to showcase the amount of time they have been in the industry and make the business look professional and experienced.
- Gain consumer confidence
Consumers are more likely to show interest in your business and trust your products and services when you have some significant business history. As a business owner, you might know the importance of building trust with your consumers. According to research, clients like companies that showcase the history, since this gives them an impression that the company has been in the industry for a long time and has significant experience and market knowledge. A shelf company will provide the impression that the company has been in business for a long time and hence increase confidence in clients to do business with you.
- Gain new suppliers and contacts
It is no brainer that anyone can know your companies date or year of incorporation by just visiting your business website. It is difficult for new business owners to secure contact and suppliers since during the initial stages, your company is classified as a new start-up. Some suppliers will insist that the company should be registered for a specific amount of time before deciding to do business. Therefore, a company with history will help you in such circumstances.
- Easier to acquire business credit
Banking and acquiring credit are important aspects of securing funds for the smooth running of your business. If you want to build a professional business image, then your company should have an active bank account. When you approach a bank to open a new business account, obtain a credit card to apply for a business loan, you will have more chances of getting approved with a shelf company than a newly incorporated company. According to banks, investments made with older companies are a much safer option and guarantee repayment than with a brand-new company. Also, make sure that you keep an eye on your Paydex score before approaching the bank for funds.
- Crafted professionally
You wouldn’t need to worry about curating an establishment from scratch. You can opt for a shelf corporation that suits all your business needs and also choose the type of business entity. You can rely on Wholesale Shelf Corporations to help you out with finding a shelf company that is made just for you.
- Easier immigration
To increase your chances of acquiring a business visa, purchase a Shelf company that has a minimum track record and has a minimum history of three years. You are more likely to get a business visa when your business is associated with a shelf corporation.
How to purchase a Shelf Corporation?
Now that we know what a shelf corporation can do for your business, let us look at how to acquire a shelf corporation
- Find the right shelf corporation
Contact us at Wholesale Shelf Corporations, and we can help you with finding a shelf company that fits all your business requirements. You will need to decide on a shelf corporation based on its date of incorporation. Remember the older the company is, the more expensive will it be.
- Check out additional services
Most of the time, the sellers provide additional services and assistance along with the purchase of the shelf company. Wholesale Shelf Corporations do not possess or sell shelf corporations that have already existing liabilities or debts.
- Sign the transfer agreement
In order to transfer the ownership from the existing owner to you, you will need to sign the Contract of Sale. Once you sign this contract, the shares of the company will be transferred to your company’s name. You will now become the new shareholders and owners of the company.
To conclude, Wholesale Shelf Corporations are the best way to incorporate in Washington D.C. Washington is bustling with new companies and businesses, and owning a shelf company will help you stay on top of the competition. We at Wholesale Shelf Corporations provide businesses with affordable and trustworthy shelf companies to achieve all their business goals. Contact us by giving us a call at 203-599-3549 or get in touch with us at [email protected].
Recommended: How to setup an organization in Seattle using wholesale shelf corporations
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