Acquisition Process – How it works
Buying a shelf company from us is more than easy. Blitzstart offers you a quick and easy acquisition. It has already proven itself with over 10,000 shelf companies sold and works (in the case of a GmbH (Ltd)) as follows:
1. Online-reservation or enquiry
Option 1: Online reservation
In our portal you can easily reserve companies online.
Option 2: Enquiry via website or e-mail
You call us or send us a reservation request via our website or by e-mail. You decide how much information you can or want to give us at this point. We check– usually by a short phone call – the information essentially needed.
2. Confirmation reservation
We immediately make a reservation of a company and then provide the following documents regarding such company as a Word-File/PDF in advance, without any obligation to purchase the company:
- Certificate of incorporation
- Commercial register excerpt
- Current Articles of Association
- Draft purchase agreement
- Information on bank account
The final handling of all formalities can be done either by your notary or, if you wish, by one of our notaries.
3. Purchase price
We need to secure the payment of the purchase price. The following options are available:
- The purchase price is paid in advance.
- The purchase price payment is secured by a law firm, tax consultancy or auditing firm (guarantee).
- The purchase price is deposited into an escrow of a law firm or a notary.
Option 1: Courier delivery
We will issue a power of attorney to you, in order to enable a notarization by you, without our appearance. Such power of attorney will be sent together with all other required documents by overnight courier to a notary office named by you.
Option 2: Personal attending (within Munich)
If the notarization takes place in Munich and you are asking for such service, we offer to attend the appointment personally on the sell-side. In this case, no power of attorney is required. For this service, the purchase price increases by EUR 500 per company sold, regardless of its legal form.
5. Notary appointment
The notary certifies the purchase agreement and the shareholders’ meeting (including changes to the articles of association and exchange of managing directors) and certifies the agreed changes for filing to the commercial register. At the date of notarization, we provide to the notary a current account balance confirmation regarding the company’s bank account, which can be attached to the commercial register application. After notarization, the company is ready for immediate use.
6. Business use
The company you have acquired can now be used for business purposes.
Bank account of shelf companies – Two models
All of our shelf companies have a bank account in which the capital is paid in full upon sale.
Transferable bank account
Shelf companies with a transferable bank account have a bank account that in general can be continued as the company’s operational bank account. The new management has the option of taking over or dissolving such bank account. In case the account the taking over of the bank account is intended, the new management must go through a KYC / legitimation process with the respective bank. We cannot guarantee a certain result of such KYC process.
Pro’s & Con’s
After successfully completing the KYC / authentication at the existing bank, you dispose of an operational bank account.
We will provide you with details of specific persons (subject to availability) at the bank, who have experience with the transfer of bank accounts.
It is possible to dissolve the existing bank account and switch to another bank of your choice at any time.
The process of transferring the bank account/KYC check can be time consuming, subject to the structure of purchaser (e.g. international background or complex structures).
Dissolving a bank account requires a limited KYC / authentication process.
Check option (Order check)
We also offer shelf companies with a bank account that is only to be used by us to pay up the capital prior to the sale of the shelf company, but cannot be used as an operational bank account by the buyer. If you buy a shelf company with such a bank account, the newly appointed managing director will receive an order check from us in the amount of the paid-up capital (a check for EUR 25,000 in case of a GmbH (Ltd)). You can then establish a bank account for the shelf company with your existing commercial bank or another bank and cash the check there. When the check is cashed, the bank account with the former bank of the shelf company automatically dissolves.
Pro’s & Con’s
You can contact a bank of your choice and open an account there.
If you have a house bank and you already have one or more accounts there, experience has shown that the KYC / legitimation for the company’s new account to be set up with this bank runs very quickly. The house bank already knows you and any existing corporate structures.
There are no fees for the dissolution of the bank account.
You do not have a an operational bank account until you opened up a new account.