A Paramount Customer Asks: I'm looking to buy an off the shelf limited company to start my own business and would like to change the name to something else. Is this possible? Can you help?
What Is An Off The Shelf Company?
An off the shelf company is a company which has had no previous trading activity. They’re registered by a formation agent, such as Paramount, making them ready for sale and immediate use – without you needing to worry about too much paperwork.
Off the shelf companies are primarily used to save time, as online company formation application now takes several hours to carefully complete. Therefore, off the shelf companies for sale are now usually used to show the longevity of the business, metaphorically they are put on the shelf to ‘age’. This creates the appearance of corporate longevity, which may even boost investor or consumer confidence. For those who have been working at a project for years, it’s particularly useful for representing all the hard work you’ve put in before properly incorporating.
At Paramount Formations we have a number of ready-made companies for sale. You can even choose from vintage companies, which are much older and therefore give the appearance of a longstanding business that has been established for many years. Because of this, a vintage ltd company is typically more expensive. However, the benefit you can receive from establishing accounts with suppliers that view you as established as easily off-set this initial cost.
When you purchase a ready-made company, you will receive the following documents:
• Certificate of Incorporation
• 4 printed copies of the Memorandum and Articles of Association
• Free Combined Register including Share Certificates
• Minutes and Register of Members
• Share Transfers
• Certificate of Non-Trading
• All Government Registration Documents
How Can You Change The Name Of An Off The Shelf Company?
So, you’ve got your paperwork and you’re excited to start trading. But there’s just one thing left to sort, the company name. Whilst there are many benefits to purchasing an off the shelf limited company, you’re potentially also buying a name that’s less than ideal.
However, there’s no need to fret, with over 40 years of experience, Paramount Formations can easily change the name of an off the shelf company to a company name that better suits your business image. This applies to both off the shelf companies as well as vintage companies. As long as the name is not too similar to another registered company, you can change the name within a couple of hours.
With so many advantages, and the ability to change the name, purchasing a ready-made limited company couldn’t be simpler.