Shelf company/turnkey solutions for Luxembourg in 2021
With a turnkey solution, Healy Consultants can supply our Client with a company number and corporate bank account details within a week! Healy Consultants provides entrepreneurs a complete turnkey solution including a ready-made company and an already-approved corporate bank account in Luxembourg.
The best thing about our turnkey solution is that it reduces the time spent having to incorporate an LLC from scratch. The alternative is setting up a new company and corporate bank account, which takes a lengthy 10 weeks.
Also, it is important to note the name of the already approved corporate bank account is that of the existing ready-made company. To maintain the corporate bank account, the shelf company name cannot be changed. Consequently, our Client must use the existing name of the shelf company for their customers. The business activity of the company is allowed to change. If our Clients wishes to change the shelf company name, the bank will request a new corporate bank account opening application under the new company name.
Realistically, our Clients’ will be able to log into the internet banking platform within 7 weeks from the time Healy Consultants provides the corporate bank account details as outlined in the below table:
|Signing forms of change of bank signatory and courier return to Healy Consultants||Week 1||Client to sign at local bank branch in their home country|
|Change of bank signatory to the existing corporate bank account is approved. Depending on the nature of the business and our Client’s nationality, the bank may take up to 4 weeks to approve the new signatory.||Week 4||The Compliance division conduct internal due diligence and mail our Client an official letter confirming the change of bank signatory|
|Healy Consultants activates internet banking token on our Client’s behalf and sends courier with password and token to our Client’s preferred address||Week 7||Clients usually request Healy Consultants to guide them through internet banking activation and insert the preferred usernames and passwords|
|If required by our Client, Healy Consultants changes the company name.||Week 9||Healy Consultants informs the bank of the change of company name to the corporate bank account|
|Healy Consultants submits information on new company’s business activity and expected incoming and outgoing transactions.||Week 11|
|Healy Consultants appoints the shareholders and directors nominated by our Client.||Week 13||The change of corporate structure does not need to be notified to the bank|
|Healy Consultants prepares and couriers our client a complete package containing original corporate documents||Week 14||The engagement is complete|
Healy Consultants’ fees
Healy Consultants’ Luxembourg turnkey solution cost is €55,170 including a i) pre-registered company ii) already-approved corporate bank account with excellent internet banking facilities iii) a registration number and tax ID and iv) a legal registered address. For more information on what is included, please refer to invoice below.
Some of our Clients choose the Luxembourg shelf solution if they i) want a company registration number fast ii) require a corporate bank account number to immediately receive sales income and iii) to immediately close an important deal;
Steps to purchase a turnkey solution in Luxembourg
|1.||Healy Consultants Compliance Team receives the required corporate and personal due diligence information from our Client;||1|
|2.||Our Client signs Healy Consultants engagement letter and returns the original to our Singapore Head Office. Our Client settles our fees;||1|
|3.||Our Client confirms by email the planned corporate structure and e-mails the required due diligence.||1|
|4.||Healy Consultants provides our Client i) a company name and number ii) a company office address and a Luxembourg VAT number and iii) a Luxembourg corporate bank account number. Our Client can inform customers and suppliers;||1|
|5.||The Luxembourg shelf company director signs i) the legal share allotment and legal share transfer ii) the change of company name and address;||2|
|6.||The existing Luxembourg shelf company director couriers return the originals legal transfer documents to Healy Consultants Singapore office. Healy Consultants’ Company Secretary Team submits transfer documents to Registry of the Societies for processing. The Luxembourg registry approves the change of company ownership application and emails Healy Consultants proof of the same. Healy Consultants then emails our Client i) the certificate of incorporation and ii) the M&AA with the new shareholders and directors;||4|
To change bank signatory, there is a 15% probability our Client must travel to meet the bank in Luxembourg. If the bank signatory is already a customer of the bank, then there is a 95% probability a travel exemption will be granted.
As always, Healy Consultants will aggressively negotiate a travel exemption for our Client, asking the bank to just perform a skype or phone conversation with the bank signatory. Depending on Client nationality, sometimes we are successful and our Client does not have to travel to Luxembourg.
|8.||The bank approves the appointment of the new bank signatory and will courier new internet banking documents (login, password etc) to our Client. Healy Consultants is no longer a bank signatory to this corporate bank account;||5|
Healy Consultants will courier the following to our Client:
|10.||Our Client receives a courier from the bank comprising new internet banking information.||8|
Frequently asked questions
What type of company am I buying if I purchase a Luxembourg turnkey solution?The ready-made Luxembourg company available from Healy Consultants is a société anonyme (SA), which approximates a public limited company or closed joint stock company. A large part of the cost to acquire the turnkey solution is the company’s share capital of €31,000.
How long will it be before I can use my Luxembourg shelf company?With Healy Consultants’ turnkey solution, our Clients can do business through the company within a week. We then manage the proceedings required to transfer full ownership and control over the following two months while you focus on running the company.