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Thread: Any one want a 10 year old shelf company

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    Full Member Moneymaker's Avatar
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    Any one want a 10 year old shelf company

    I have a shelf company (a Pty Ltd) with a registration date of 1998. I paid R2000 for it at the time.....The company traded for a year and then I split the company into two parts - as I took on a partner in the one part of the business and wanted to give him an interest in his part of the businss but not in mine.....
    The current position is that the business has no assets, neither has it any liabilities. It ceased trading five years ago.

    Owning a company with a 10 year old registration date will often give some added trading credibility as people assume it has been trading for the full period.

    Is anyone interested in taking it off my hands before I go down the pathway of having it liquidated?

    PM me...

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    just me duncan drennan's Avatar
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    I'm not interested in purchasing it, but did the company ever have any liabilities that your (or anyone else) signed surety for?
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    Site Caretaker Dave A's Avatar
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    Slightly off to the side of this, but I've heard of wound up companies selling the shell for reasonable numbers because it has an assesed tax loss that can be offset against future profits.
    The trouble with opportunity is it normally comes dressed up as work.

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    Full Member Moneymaker's Avatar
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    Quote Originally Posted by dsd View Post
    I'm not interested in purchasing it, but did the company ever have any liabilities that your (or anyone else) signed surety for?
    Yes, securities were in respect of assurance contracts. Long since cancelled and transfered to the company that replaced it. The company itself never signed sureties in favour of anyone............

    I only ever sign sureties that are limited in value and time as well as to the asset(s) I am acquiring....

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    Full Member Moneymaker's Avatar
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    Quote Originally Posted by Dave A View Post
    Slightly off to the side of this, but I've heard of wound up companies selling the shell for reasonable numbers because it has an assesed tax loss that can be offset against future profits.
    Yes, bought a company like this myself once. But in order to use the tax deductibility your business has to be similar to the business purchased....

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    Site Caretaker Dave A's Avatar
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    Quote Originally Posted by Moneymaker View Post
    I only ever sign sureties that are limited in value and time as well as to the asset(s) I am acquiring....
    Now that is good advice for everyone.
    Quote Originally Posted by Moneymaker View Post
    But in order to use the tax deductibility your business has to be similar to the business purchased....
    That's useful to know - Thanks.
    The trouble with opportunity is it normally comes dressed up as work.

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    Platinum Member Chatmaster's Avatar
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    What price are you looking for and what kind business is it registered as. If possible please PM me the name.

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    Full Member Moneymaker's Avatar
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    PM'd...........

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    MONEYMAKER, do you still have that company? It sounds like it operated in financial services. Was it ever regsitered with the financial services board? I am looking for a new financial services company and if the name is attractive, I might be interested?

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    ms

    This sounds rather interesting, do you still have it?

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