If you want to set up a new company, it is always time-consuming and laborious. There are so many things to be taken care of, learning the laws of the land, selecting a location for the administrative offices, and taking an agent on hireling basis to get the work done for you. What is the way-out for you to a cut out the hassle from the incorporation of a company? Purchasing a ready-made company will give you relief from all your hassles.
Many corporate firms are now selling ready-made companies. These companies have all the paperwork done under an owner’s name, generally the company’s director. When you purchase the company, you become the legal owner of the company. There is no need to file the Memorandum of Association and the Articles of Association. The corporate firm selling you the company would already have taken care of those formalities for you.
Acquiring an already existing company is also a great way of expanding your business overseas. If the company was in operation for some time, this is for sure that it would have a client base of its own. When you purchase the company, the client base will be automatically coming to you, which will generate good profits from day one itself. Besides, if your company brings some good reputation, you can depend on that for the expansion of your new client base.
Company formation agents can be contacted as they often keep track of companies looking for new owners. They also keep track of firms having registered companies for an immediate sale. When you approach company formation agents for setting up your new company, ask them if they can arrange for this sort of option. Not only will this make your journey easier for setting up the company, but it will also lower the amount of money that you have to pay to the agent.
There are some negative points in buying a readymade company though. For one thing, you cannot change the name of the company to something as per your likings. That would change the identity of the entire company which may affect your business. So, even if you don’t like the name of the company, you have to bear with it for your own betterment. Secondly, when you buy a readymade company, the total infrastructure that was registered with the business registration offices previously may be different from that of your company. In that case, you will have to issue resolutions approved by the Board of Directors of your company to change it. The process is not too time-consuming but is a hassle nonetheless.
In spite of these drawbacks, purchasing readymade companies is a very lucrative option for many business owners overseas to save time and money. It is not such a bad process if you wish to expand your business. In fact, this process will give you a balanced investment and excellent time management which will help you to move forward successfully.