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How you can get off to a great start with a ready-made company: if you've got a great business idea but you're new to the corporate world, getting set up can be a minefield. There is a huge amount of legislation to consider, and you need to be sure that you're properly registered with all the appropriate authorities. You'll also need to bear your location in mind - start-up rules vary across countries, so your UK business may run into issues when you try to set up a European or American base.
Ready made companies are a great way to ensure that those initial start-up worries are taken care of, and to get yourself established in the market quickly. These ready made companies are also known as shelf companies; they are essentially the shell of a former company that no longer trades, complete with all relevant registrations and an extensive limited company history. Coddan offers great deals on ready made companies, with packages to suit initiatives of all sizes and a great range of reputable names on our books.
A ready made company gives you a kick-start in the marketplace: whether you're establishing a limited company, a limited partnership, limited liability partnership, or a public company, Coddan has the right shelf company for you. These companies are a great way to expand quickly when time is of the essence. Need to register right away to take up a large contract? Looking to take advantage of a fast-moving marketplace? When time is short, a pre-registered company will open up opportunities to you that could otherwise take months.
No liability for you with our guarantee: we only use reputable companies in our portfolio, so you can be sure that the name you take on is free from any debts, limitations and other associated problems. Our aim is to make business easier for you, so we make sure that you won't get tangled up in paperwork or caught out by the former company's history. You'll be taking on a respected name. What's more, this will open up a marketplace of previous clients, new avenues of credit and a strong company image - perfect when you're just starting out in business.
Start with a clean sheet - take on a purpose-made company: if you want all the benefits of a ready made company without the implications of a former history, Coddan also caters to your needs. We can help you with a new company formation and we've created shell companies that were registered and established specifically to be sold on - get in touch now to find out more about this service.
Choose a ready made company with Coddan: get your business off to a great start - avoid the hassle of registration and get a full corporate history when you choose a ready-made company from Coddan. Our shelf company packages are perfect for new businesses and expanding companies who need a fast, comprehensive company set-up service. Need a company number to secure a contract? If you need an established company behind you to progress your business aims, a ready-made company is the answer. Coddan's packages can be up and running for you in just 10 minutes! Struggling to establish yourself in the marketplace? Ready made companies give you a pre-established brand, customer following, trade history and background. They're fantastic for building a strong corporate image. If you need an assistance with a ready made company, you can also speak to our business advisors between 9.30am-6.00pm Monday to Friday by telephoning + (0) 207.935.5171 or + (0) 330.808.0089 (national rates).
We are selling readymade companies: if you are looking to get started in business but feel that you might be better buying a shelf company instead of starting from scratch, we are selling readymade companies that can be transferred into your name quickly and allow you to get started right away.
There are a whole host of perks to buying a ready-made company, and it can be the best way for you to get your business off the ground without you needing to worry about many of the pitfalls that come with starting out from scratch.
Choose a company name that suits you: you will be able to choose a company name that fits well with your business or, if you can't find a company name that suits you exactly then you can purchase the company as it is and then change the name to fit your business. This will not change the legitimacy of the company whatsoever, as it will still be the same company, just with a change of name.
The process of buying a shelf company is quick and easy: you should be able to have your company registered in your name within the day so that you can start trading, applying for company loans, working with other businesses and so on, right away. All you need to do is choose and pay for your company and it will be put into your name, as well as having all of the information passed over to you about your company so that you are able to fill in any paperwork and so on.
Legitimises your company: buying a company that is ready made and has a history should help other businesses, banks and any agencies you are looking to bid for contracts from to see you as a legitimate company, and give them more confidence in your business so that they will be happy to work with you. It also saves you all of the time and money that would come with trying to get your business up and running from scratch, registering a company name and applying for lines of credit with no proven track record.
The advantages of ready made companies: a ready-made company, otherwise known as a shelf company, is a company that has been set up and then left to mature without anything being done with it whatsoever. On the face of it, this may not seem to make much sense at all, going through all of the effort to create and register a company only to leave it for years to do nothing, but these companies can then be sold on to those looking to set up their own company as a readymade business. Here are some of the advantages of buying a readymade company.
Giving the appearance of a long-standing company: businesses that have just started out may find it difficult to get loans or credit cards, or to deal with banks in general. If a company has an appearance of corporate longevity then it is more likely that banks will be comfortable working with them, giving them better deals on business accounts and lines of credit. A company that has been operating for a few years will also find that other businesses are happier to work with them as having been up and running for a long time legitimises the business in the eyes of others.
Helping with work permit applications: if companies are hoping to hire their skilled staff from abroad, or have a particular member of staff that they want to come and work with them from a different country, then having a ready made company that has been open for a number of years makes it more likely that work permit applications will be accepted.
Saves time when setting up a new business: it isn't necessarily difficult to set up a business, but is can be time-consuming, which can affect a business's momentum when they are trying to get up and running. Simply buying a ready-made company means that they can get started and commence trading right away, with everything set up and ready to go.
Ready made company vs newly registered company: setting up a business is likely to be a risky and fairly stressful process, however you decide to get your company up and running. There are two types of ways to set up your company, one of which may work better for you than the other, and which may help you feel more confident in setting up your business. A readymade company is one where the business has been set up before, and the owner of the company sells on the whole business, with all of its associated accounts, registrations and so on. Another option for those looking to set up a business is to register a new business of their own. Here are some of the pros and cons of both to help you to decide how to get your business started.
Ready-made companies: the company will have a name already that you can take over and continue to trade from, or which you can change whilst you are getting set up. The company may have a trading history, particularly if it has been active at any point. This can be a bad thing if you don’t know what has happened in the past, as it could affect your business if anything negative has happened.
These businesses are more expensive to set up than new companies, costing up to thousands of pounds to get started, depending on the business. Readymade companies are almost instant to set up, taking at most an hour to transfer the name and other details to the new business owner. Bank accounts can be transferred with the company, but may take a little longer.
Newly registered companies: the company will be nameless, meaning that you can set it up with any name that you choose. A newly registered company will not have any trading history, and will be able to start with a completely clean slate.
The main uses of the shelf companies: shelf companies are companies that have been created in advance and then left for a couple of years, to be sold onto those looking to set up their own business as a complete and ready-made business. It may seem unnecessary to set up a self company when you are looking to set up a business from scratch anyway, but buying one of these companies can be a great way to get your business to move forward in your industry that much faster, and avoid some of the problems that can come with starting a new business, making it more likely that your business will succeed.
Some of the main uses of shelf companies are: -
They improve confidence in the business - whether you are dealing with banks, other companies or customers, you can be sure of getting a much better response from the people that you work with when you have a company that has been set up for some time than if you have a brand new company. Businesses feel more secure with companies that have a history, as they feel that it makes your business more legitimate. Confidence in the business means that you will be able to do more work and get more customers, making the business progress faster.
They allow you to bid on contracts - it is common for governments to only allow businesses to bid on contracts with them once the business has been up and running for a specific length of time. With a shelf company, a business owner is able to bid on contracts when they have only been up and running for a short space of time, where if they started a company from scratch they would have to wait for some months.
Use a ready-made company to open a branch office in your home country: a readymade company can be used to get a business up and running quickly and simply, as well as eventually open a branch office in your home country. Many companies struggle during the earliest days of their incorporation, as it can be difficult to bid for contracts, set up a branch office or get lines of credit when your company is brand new. Buying a shelf company helps you to avoid this because the company has been around long enough for creditors and others to trust it.
Here are some tips for using a ready made company to open a branch office in your home country: -
Choose a company: you should be able to find a company that suits your needs by browsing a list on the Coddan website. The list lets you know everything from the name of the company to the date of incorporation, so that you can choose a company that has been up and running long enough for you to use it to set up a branch office in your own country.
Change the company name: you can still set up a branch office if you change the name of the company to a brand new one. Changing the name allows you to suit the name of the business to your company's goals and start fresh, but you will still have the paperwork to prove the company has been open for long enough to open a branch.
Register the company to your own address: you will be able to change over the address to your new branch office once it is set up, but for the time being, make your home address the registered address of the company, as it ties the company to you.
Use your paperwork to open your branch office: once you have proof of a business registered in your name that has been opened for two to five years, depending on your country, you should be able to open a branch office and begin trading as soon as you want to.
How are our readymade companies registered? For customers who require a company in a hurry, or who need a company with impeccable credentials from day one, Coddan can provide a range of off the shelf companies in various locations.
An obvious question to ask is, "where do these companies come from?" The answer is that we registered these companies ourselves using our own office addresses, directors, secretaries and shareholders, or bought an old dormant company. The companies are ready to be transferred immediately to a new owner and will usually have undertaken no trading whatsoever.
Coddan have significant experience with registering companies limited by guarantee, companies limited by shares, public limited companies and limited liability partnerships. We have incorporated businesses in a wide variety of offshore locations and in all of the most popular American states.
It is often necessary for a business to acquire a company immediately in order to bid for a contract. For government contracts, there might also be a requirement for bidding companies to have been in existence for a certain length of time. Coddan's off the shelf company service allows businesses to meet these requirements straight away.
Banks will often be unwilling to extend credit to companies that haven't been in existence for a significant period of time. A readymade company opens up a range of financing options that wouldn't otherwise be available to a fledgling business.
All of our readymade companies are completely clean, with no adverse credit history, or liabilities of any kind. The companies come with full, professional documentation. Those companies that were formed by Coddan will have general commercial objects and are therefore capable of being used for any kind of trading activity.
Buying a UK company off the shelf starts from £99.00. This price includes changing the directors, shareholders and secretary over to your own nominees. Alternatively, for an annual fee we can provide you with our own nominees for these positions, allowing your ownership of the company to remain confidential.
If you would like to discuss how one of Coddan's off the shelf companies could help your business, please don't hesitate to get in touch.
At Coddan, we provide a range of limited companies for businesses to purchase in order to get their company off the ground quickly and easily. There are a number of different types of readymade companies available, including those limited by shares, limited by guarantee, public shelf companies and limited liability partnerships. Here is the process required to buy a readymade company from us: -
Look at the list of companies: each company is available as part of a list, which shows the company name and other valuable information about each company, including the date and place of incorporation, the price and what's included. You can then choose your company based on what will work best for you and the type of business you are setting up.
Weigh price against benefit: the price of a company goes up according to how long they have been incorporated and what benefits you get from choosing the company. However, you should also bear in mind that a company which has been running for longer will have a better chance of obtaining a bank loan, and be able to pick up contracts more easily.
Let the team transfer the rights to you: this process is so quick and simple that you should be the new owner of your company within an hour or so. The team will transfer the rights of the company to you as soon as you have paid for it. You will receive all of the company details, including the memorandum & articles of association, the company register minute book, and the certificate of incorporation, which you can use to prove your company’s legitimacy. You can also speak to the team about making changes to the memorandum and articles of association if necessary, and changing the name of the company.
Start trading right away: once your company has been transferred to your name, you can start trading right away. Make sure that you read through all of the information about your company and keep documentation safe so that you can use it in the future should you need to.
Buying a shelf company means that you are able to get a limited company up and running in just a few short hours, and have the company seem more legitimate to banks, other business and agencies. This helps you and your business to get started on the best possible route, so that it is more likely that your company will be successful. Here are some of the reasons that you should change the name of your shelf company, as well as how you can change the company name through Coddan when you are purchasing a shelf company of your own.
Make the name suit your business: when purchasing a shelf company you may find that you can't find a company name that completely suits your business down to the ground, meaning that it may not be as obvious what your company does. Alternatively, you just might have a great idea for a company name and not want to lose this name simply because you are buying a shelf company. Either way, the simplest thing for you to do is to buy any company that suits you, and then change the name.
Start afresh: if a company has been up and running for a number of years, there may be some negative connotations associated with the name, or even just connotations that don't fit in with your business. The best thing to do in this situation is to change the name to something brand new, that won't be associated with anything other than your own company.
Get away from any negative trading history: sometimes shelf companies won't have any trading history and then this is not a problem, but if the company has any negative trading history then you won't want this associated with your business. A simple name change will be all you need to do.
Acquiring a readymade UK company means that you are able to hit the ground running and start trading immediately with your own officers in place, and without any long-drawn-out procedures or legal red tape to complete first. The sooner you can get started, the sooner your business is likely to start generating revenue instead of having to accept high running costs during the initial process of setting up a company in the UK.
At Coddan, our readymade companies are just that – fully formed and ready to actively start trading. Each readymade company has been set up using our own nominee shareholder as well as a nominee secretary, both as first officers, and subscribers to the memorandum and articles of association. As the incorporation certificate has also been issued, the shelf company is available to purchase immediately and can be held in reserve for up to 48 hours, for full payment.
New directors: during the time of purchase of the shelf company, you are able to appoint your own officers and have our nominee directors replaced with the names of your new company directors. All the relevant formation documents will be available and the new directors can start trading using the existing name, or they can change the name of the company and trade under a different business name – it's that simple.
It's important to note that legally the new director and appointed secretary are required to meet certain conditions in order to qualify for the position. They must be of sound mind, adult, and not be disqualified from holding such a position, or be an undischarged bankrupt and so restricted from taking up such a position, unless leave has been granted to do so. Company secretary: the appointed company secretary can be someone who has held a similar position previously, a member of a recognised accountancy body in the UK, a solicitor or barrister practising in the UK, or someone who the director considers has the attributes and experience for the role.
When you get your own readymade company, there are certain structural elements of the enterprise you may want to change so that it suits your purpose. Here at Coddan we can help.
Increasing the share capital is one common option for readymade companies. This can be done when the company is being bought or later on. The current share capital will be stated on the memorandum of association as well as the division of shares. For private limited companies, there's no maximum or minimum level of authorised share capital, but for public limited companies it starts at £50,000.
The process of increasing share capital depends on what's contained in the articles of association – whether an ordinary, extraordinary or special resolution needs to be passed. This is then lodged with Companies House, the UK's official registrar of firms, and we can do it for you.
It may be that you wish to issue different types of shares for your ready made company, and we're pleased to offer our expertise in this area. There are a number of different types of shares – ordinary: usually providing the most payouts but they can carry risks; preference: as the name suggests, they give those who hold them preference when dividends are being paid; cumulative preference: the right to have a payment in successive years if a dividend is not paid in any one particular year; and redeemable: the company has the right to buy back the shares, but it's not possible to only issue this type.
Among the other services we can provide for clients who want to make changes to ready-made companies are alternations to the memorandum and articles of association, whereby companies want to change their stated objectives or voting rights. We can also handle the redrafting and filing with Companies House. You can also obtain a certificate of good standing for your readymade company, which is beneficial when entering into new business relationships.
If you'd like to know more about our additional services for ready-made companies, please get in touch with us today and we'll be happy to discuss your requirements with you.