How it works
Buying a shelf company from us is more than easy. Blitzstart offers you a quick and uncomplicated 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. EnquiryYou call us or send us a reservation request via the website or by e-mail. You decide how much information you can or want to give us at this point in time. We check with you – usually by a short phone call – the information we essentially need from you.
2. ReservationWe immediately make a reservation of a company for you. You will then receive the following documents regarding such company as a Word-File/PDF in advance:
- Certificate of incorporation
- Commercial register excerpt
- Current Articles of Association / Partnership Agreement
- Draft purchase agreement
- Information on bank details
The final handling of all formalities can be done either by your notary or, if you wish, by one of our notaries.
3. Purchase priceThe following options are available to ensure the purchase price:
- The purchase price is paid in advance.
- The purchase price payment is secured by a law firm, tax consultancy or auditing firm, in each case of good standing, (guarantee).
- The purchase price is deposited into an escrow of a law firm or a notary.
4. Courier deliveryWe 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.
In case you are asking for, we are also happy to arrange a notarization at one of our partner notaries. If the notarization takes place in Munich, 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 appointmentThe notary notarizes 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, you are immediately able to act with the company.
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.
1. Transferable bank account
Shelf companies with a transferable bank account have a bank account that in general can be continued for use 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 shall be continued, the new management must go through a KYC / legitimation process with the respective bank. We cannot guarantee a certain result of such KYC process.
2. Check option (Order check)
We also offer shelf companies with a bank account that is only 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 then cash the check there. When the check is cashed, the bank account with the former bank of the shelf company automatically expires.
Which option should I choose?
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 in taking over 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 KYC / authentication process.
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 payment account until you opened up your new account.