Global turnkey solutions
For our Clients who need immediate corporate solutions, Healy Consultants offers turnkey fast solutions. Within a week, we will supply our Client i) an already established company registration number and address and ii) an already approved corporate bank account with e-banking activated.
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Why turnkey solutionsTo provide comfort to our Clients, all Healy Consultants turnkey solutions are accompanied with:
- Some Clients need new companies swiftly for various reasons including i) requiring business bank accounts to immediately receive sales income and ii) closing important sales contracts. In such scenarios, it is not practical for our Clients to go through the process of registering new companies and opening new corporate bank accounts. A process that can take several months;
- To meet the demands of these Clients, Healy Consultants is always busy registering new companies and opening new corporate bank accounts and putting them in inventory for future Client needs. For this inventory of companies, Aidan Healy is the sole shareholder and director and bank signatory. From the date of incorporation, these entities are dormant;
- In the weeks following sale of the Healy Consultants turnkey solution to our Client, Healy Consultants emails our Client legal and bank forms for their signature, to change the corporate structure to your preferred shareholders and directors and bank signatory.
Asia Pacific turnkey solutions
Europe turnkey solutions
Africa/Middle East turnkey solutions
America turnkey solutions
Accounting and tax considerationsThe primary purpose of the turnkey solution product and service is to help Clients’ immediately close deals and sign sales contracts. A turnkey solution is not designed to facilitate tax avoidance. It is important our Clients’ are aware of their personal and corporate tax obligations in their country of residence and domicile; and they will fulfill those obligations annually. Let us know if you need Healy Consultants help to clarify your local and international annual tax reporting obligations.
Corporate bank account considerations
- There is a 25% probability the new bank signatory will need to travel to meet the bank. As always, Healy Consultants will aggressively negotiate a travel exemption for our Client;
- Healy Consultants will provide full disclosure to international banks re i) the change in company business ii) the expected bank inflows and outflows iii) change of shareholders and directors and iv) change of beneficial owners. The banks’ internal Legal and Compliance Department need to complete their detailed due diligence procedures;
- The name of the already approved corporate bank account is that of the existing ready-made company. It is acceptable to change the company name and business activity, and keep the same corporate bank account number. Consequently, our Client is not forced to use the existing name of the shelf company for their customers;
- Healy Consultants will only change the bank signatory after 100% of Client due diligence documentation is received by courier. Only after the sole bank signatory is legally changed to our Client, can you remit funds into the corporate bank account;
- Realistically, our Clients’ will be able to log into e-banking within 7 weeks from the time Healy Consultants supplies the corporate bank account number, as outlined in the following table:
Task Time Comments Our Client signs the bank forms to appoint themselves as sole bank signatory and courier returns to Healy Consultants Singapore office. Week 1 Our Client will need to visit their local bank branch to witness their signature. Healy Consultants will provide full disclosure to international banks re i) the change in company business ii) the expected bank inflows and outflows iii) change of shareholders and directors and iv) change of beneficial owners. The banks’ internal Legal and Compliance Department need to complete their detailed due diligence procedures. Week 2 Depending on our Client business and nationality, there is a 25% probability the bank will reject the appointment of the new bank signatory. The bank legally approves the new bank signatory. Depending on our Client’s nationality and the nature of their business, the banks may take up to 4 weeks to approve and change the new bank signatory of the existing corporate bank account. Week 4 The bank Legal and Compliance Department complete their internal detailed due diligence and mail Healy Consultants a formal letter confirming our Client is the sole bank signatory. The bank couriers the new e-banking tokens to Healy Consultants office we immediately activate internet banking on our Clients' behalf. Week 6 It takes two weeks for the bank system to generate the new passwords and tokens for the new bank signatory. Usually our Clients' asks us the activate on their behalf. Healy Consultants activates e-banking and sends a courier to our Client preferred address. Week 7 It usually takes 4 days for a courier to reach our Client. Usually our Client rings us to guide them to login to e-banking to insert their own preferred usernames and passwords. Healy Consultants legally changes the company name (if required). Our Client will need to sign bank forms and courier return to us. Week 9 Healy Consultants informs the bank to change the company name on the corporate bank account. Healy Consultants informs the bank of the new company business activity, including expected cash inflows and outflows. Our Client will need to sign bank forms. Week 11 Healy Consultants informs the bank of the new shareholders and directors and beneficial owners. Healy Consultants appoints our Clients' preferred shareholders and directors to the shelf company. Week 13 We will email our Client and the bank an extract of the Singapore public register. Healy Consultants couriers our Client a complete company kit comprising original corporate documents. Week 14 The Client engagement is complete.
- Healy Consultants will supply our Client independent evidence to confirm the turnkey solution corporate structures are dormant and unused since the date of company registration, including bank statements and letters of confirmation from lawyers and accountants;
- Healy Consultants will only change the bank signatory after 100% of Client due diligence documentation is received by courier;
- Our Client is not allowed to use the bank account till the bank signatory is changed.