Buying a shelf company

[Ext User(Murphy)]

I am looking at registering a new company and understand that I can simply
purchase an existing company that has been closed and is no longer trading.

Obviously the shelf company would have an ACN however would it also have an
ABN ?
Can I purchase someone else's ABN ?

Thanks

[Ext User(phil_herring@yahoo.com.au)]

Murphy wrote:

> I am looking at registering a new company and understand that I can simply
> purchase an existing company that has been closed and is no longer trading.

That's correct, though most people just start a new company. That would
mean that there is no chance that some past liability won't come back
to haunt you, you won't have to lodge paperwork to change directors and
shareholders, and you won't have to change the company name to
something relevant to your business.

> Obviously the shelf company would have an ACN however would it also have an
> ABN ?

If it has traded in the last 5 years, then it almost certainly has an
ABN.

> Can I purchase someone else's ABN ?

No, ABNs are not transferable. If needed, you just fill in the
paperwork and get a new one.

It sounds like you need to speak to an accountant.


-- Phil

[Ext User(Murphy)]

<phil_herring@yahoo.com.au> wrote in message
news:1139363973.305202.51170@g43g2000cwa.googlegro ups.com...
> Murphy wrote:
>
>> I am looking at registering a new company and understand that I can
>> simply
>> purchase an existing company that has been closed and is no longer
>> trading.
>
> That's correct, though most people just start a new company. That would
> mean that there is no chance that some past liability won't come back
> to haunt you, you won't have to lodge paperwork to change directors and
> shareholders, and you won't have to change the company name to
> something relevant to your business.
>
>> Obviously the shelf company would have an ACN however would it also have
>> an
>> ABN ?
>
> If it has traded in the last 5 years, then it almost certainly has an
> ABN.
>
>> Can I purchase someone else's ABN ?
>
> No, ABNs are not transferable. If needed, you just fill in the
> paperwork and get a new one.
>
> It sounds like you need to speak to an accountant.
>
>
> -- Phil
>

Phil,

The reason I ask is because lenders will only lend 70% LVR for company
borrowings if the company has had an ABN registered for less than 2 years
however if it has been registered for more than 2 years then they will lend
80% +

To ease cashflow it would have it's advantages to purchase an already
registered company who's abn is more than 2 years old if possible.

[Ext User(BernardZ)]

In article <EkbGf.292$yK1.7@news-server.bigpond.net.au>,
murphy@murphy.com says...
> I am looking at registering a new company and understand that I can simply
> purchase an existing company that has been closed and is no longer trading.
>
> Obviously the shelf company would have an ACN however would it also have an
> ABN ?
> Can I purchase someone else's ABN ?
>
> Thanks
>
>
>

Its dangerous as you may find that this company has existing commitments
that you as the director have to honor. Generally for this reason people
prefer new shelf companies.



--
A quick useful to determining the intended victim in a horror movie is
to try to determine the person who has no family in the story.

Observations of Bernard - No 95

[Ext User(mindesign)]

I have a contact who deals only in the provision of shelf companies - feel
free to contact me off-group for his contact details


Steve


"Murphy" <murphy@murphy.com> wrote in message
news:EkbGf.292$yK1.7@news-server.bigpond.net.au...
>I am looking at registering a new company and understand that I can simply
>purchase an existing company that has been closed and is no longer trading.
>
> Obviously the shelf company would have an ACN however would it also have
> an ABN ?
> Can I purchase someone else's ABN ?
>
> Thanks
>