Buy shelf companies with or without a transferable bank account
All our GmbH and AG companies, and some of our UG companies, have a bank account in which the authorised capital is fully paid-up at the time of sale.
Depending on the bank, you can either take over this account following acquisition of the shelf company or transfer the account balance to a new account of the company by order chequet.
We work with various banks so that you can choose an account model that suits you or your clients best. We would be happy to advise you on this by telephone.
A | Shelf companies with a transferable bank account
This account model enables you to take over the existing bank account following acquisition of the shelf company and use it as a business account without restrictions following a successful transfer.
To that end, the new managing director must must legitimise himself at the bank. Depending on the bank, this is done at a branch, via PostIdent or via video chat. In addition, the bank will conduct a KYC audit, which can take some time.
We will provide you with a checklist coordinated with the respective bank and your personal contact person to ensure that the account transfer goes as smoothly as possible.
B | Sale via order cheque: Opening a new account at the bank of your choice
We recommend the order cheque procedure if you already maintain a good relationship with a commercial bank, or would like to use a specific bank in the future.
With this account model, the existing bank account of the shelf company cannot be taken over. When acquiring the shelf company you receive an order cheque from us for the company’s account balance.
Following the purchase, you initially open a new business account for the company at the bank of your choice and then cash the cheque there. The credit balance is credited to the new account and the company’s original account is automatically closed.
Your advantage: You can take care of opening an account at your bank of choice without any time pressure, as we and our bank waive the cheque presentation deadlines. If you are already known to a bank as a business customer, the legitimation and KYC audit will often take less time. In many cases, a transfer to a foreign bank is also possible with the help of the order cheque. There is no need for an additional legitimation and KYC audit at the previous bank.
FAQs about the purchase of a shelf company with a bank account
- What is the advantage of a shelf company in relation to the bank account?
When a new company is founded, there are often significant delays in opening the account due to banks’ verification requirements. However, the notary can only submit the commercial register application of the newly founded company once the share capital has been transferred to the account. The duration of a company’s own foundation is, therefore, difficult to quantify, in particular because of the bank account issue.
By contrast, purchasing a shelf company means you can deal with the bank account or transfer of the share capital at your leisure following the purchase, while the company already enjoys full legal capacity. Even if we cannot spare you or your clients the bank’s customary audit process, this sequence is a significant simplification.
- Which account model fits best when foreign buyers are involved in the purchase of a shelf company?
That depends on the individual case. We would be happy to clarify the appropriate account model in a brief telephone call.
We recommend you discuss the following questions with your clients in advance:
Do the purchasers already maintain a business relationship with a certain bank?
Should the company continue to hold an account in Germany in the future? Will the managing director be permanently, or at least temporarily, on site? Do the purchasers come from outside the EU? Do the FATCA regulations apply to purchasers with a US connection? Or is there a regional connection, e.g. to Berlin?
- Can I acquire a bank account quickly and easily by purchasing a shelf company?
In some cases it is not easy to find a suitable bank for a planned company at short notice. Most banks have restrictions regarding shareholders’ countries of origin or the object of a company.The same conditions will apply when taking over the bank account of a shelf company.
Even though a shelf company cannot offer a short cut to a bank account, you have full legal capacity following the purchase of the company and can take the time needed to find a bank that suits the planned business and where your company is welcome.
- When can I dispose of the account balance?
The new managing director will be granted full access to the account and can dispose of the authorised capital following successful completion of the legitimation and KYC audit.
We will provide you with a checklist for the KYC audit and the documents that the bank managing the account requires. The KYC audit can only begin once the bank has received these documents in full. The duration of the KYC audit then depends on the respective bank and the new shareholder structure.
Should the bank refuse to transfer the account in an individual case, the account will be closed and the account balance transferred to an account stated by the managing director.
- Shelf companies with an account at Berliner Sparkasse
If you purchase a company with an account at Berliner Sparkasse, we will give you the name of a personal contact person who will help you transfer the account. As in the case of all banks, Berliner Sparkasse conducts a KYC audit and identification of the new managing director. This account is a good fit for purchasers if at least one of the new managing directors is local.
- Shelf companies with an account at Qonto
Qonto is a neobank – all banking transactions are conducted exclusively via the online portal. The new managing director is identified via video chat, which is also possible from abroad. The documents for the KYC audit can be simply submitted by e-mail. A company with an account at Qonto is a good fit if you want to actively use the business account as soon as possible, and a neobank suits your planned business activity. Please note the following: If the shelf company is acquired by a company, the purchasing company must have its registered office in the EU, an EFTA state or the UK. A residence permit for Germany must be held in the case of acquisition by natural persons who are not from EU/ETFA states.
- Shelf companies with an account at Wiesbadener Volksbank
We will appoint a personal contact person who will assist you with the account transfer. As in the case of all banks, Wiesbadener Volksbank conducts a KYC audit and identification of the new managing director. The new managing director is identified in a branch of the bank, or via PostIdent. This account is a good fit for customers with a local connection. As an alternative to the account transfer, we also issue an order cheque that can be cashed in a new company account. This allows you to remain flexible in your choice of action.
- A leading provider with more than 20 years’ market experience
- Owner-managed by licensed lawyers
- Our clients can contact us personally
- Optimised and flexible processes
- More than 8,000 sold shelf companies
- A wealth of experience with holding structures and individual solutions
- Suitable transaction power of attorney for your clients
- Wide range of German legal forms at various location
We offer all common German legal forms. We have lots of different locations available depending on the legal form. Authentication is possible throughout Germany. To our Shelf companies.
Just a few steps need to be taken after reservation until you can purchase a shelf company. You determine whether and when you require the company. More about the process involved in purchasing a shelf company.