Can I Buy A Shelf Corporation With Existing Line Of Credit, Tax Returns, or Financials?

 

By definition, a shelf corporation is a duly registered company that is kept inactive "on the shelf" to age to be sold later to an individual or a group of people. “Naturally,” shelf corps do not have any assets or liabilities given that they do not engage in business activities during the aging period. Therefore, it is impractical that a shelf corporation would come with an existing line of credit, tax returns, and declared financials. 

 

Regardless, you will still come across shady vendors online advertising aged corporations that come with cash lines of credit, tax returns, and financials. Such aged corporations come in hefty price tags and promises of instant guaranteed funding. First, we need to establish that there is no way a shelf company can magically come with these valuable credentials after several inactivity years. Second, not even the oldest aged corporation on the shelf can guarantee your business instant funding. Aged corporations can only set you up for consideration but do not in any way guarantee funding. It is better than going to a lender with a newly established company.

 

 

So what are the risks of purchasing an aged corporation with an established line of credit? 

 

In most cases, you’ll end up with a company that has fraudulent tax returns and financial reports. As the company's new owner, you’ll have inherited the liability that came with your new acquisition. As such, you will have lost money to the scammers and sunk yourself deep into public debt. Another possibility is that you will end up with fake credit lines that don’t exist, as well as made-up tax returns or financials. This is equally disastrous as you can end up in jail for fraud.

 

Your best bet is to purchase a clean shelf corporation from a reputable vendor like ShelfCorpGiant.com and join their credit building program focused on improving your company’s corporate credit score within a short period. Their 80 Paydex Program delivers results between 45 to 60 days from when you may go ahead to borrow using your “upgraded” shelf company. Stay vigilant, don’t fall victim to the oldest trick in the book.