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A shelf corporation, shelf company, or aged corporation is a company or corporation that has had no activity. [1] It was created and left with no activity – metaphorically put on the "shelf" to "age". The company can then be sold to a person or group of persons who wish to start a company without going through all the procedures of creating a ...
A shell corporation is a company or corporation with no significant assets or operations often formed to obtain financing before beginning business. Shell companies were primarily vehicles for lawfully hiding the identity of their beneficial owners, and this is still the defining feature of shell companies due to the loopholes in the global corporate transparency initiatives. [1]
Offshore companies are used for a variety of commercial and private purposes, some legitimate and economically beneficial, whilst others may be harmful or even criminal. Allegations are frequently made in the press about offshore companies being used for money laundering, tax evasion, fraud, and other forms of white collar crime. Offshore ...
19th century New Jersey and Delaware Corporations. In the 1880s, New Jersey was in financial difficulty and the governor, Leon Abbett, backed a plan by a New York lawyer, Mr. Dill, to create a more liberal regime for establishing corporate structures, including the availability of "off-the-shelf companies" (but not non-resident companies ...
Offshore oil well drilling platform, Continental Oil Co., Gulf of Mexico, 1955. Around 1891, the first submerged oil wells were drilled from platforms built on piles in the fresh waters of the Grand Lake St. Marys in Ohio. The wells were developed by small local companies such as Bryson, Riley Oil, German-American and Banker's Oil. [2]
IBCs are offshore companies that are most commonly used for international business such as trade and non-local services, offshore banking, investment, as a special purpose entity, as well as for asset protection. Offshore companies can be used for virtually any type of transactional activity (some requiring a special license) such as buying and ...
After acquiring OJSC TNK-BP in 2013, then one of the largest oil companies in Russia, Rosneft became the world's largest publicly traded petroleum company. [ 4 ] [ 5 ] Rosneft is the third-largest Russian company and the second-largest state-controlled company (after Gazprom ) in Russia in terms of revenue ( ₽ 4,134 billion). [ 6 ]
A dummy corporation, dummy company, or false company is an entity created to serve as a front or cover for one or more companies. It can have the appearance of being real ( logo , website , and sometimes employing actual staff), but lacks the capacity to function independently.