What does shell corporation mean?
Definitions for shell corporation
shell cor·po·ra·tion
This dictionary definitions page includes all the possible meanings, example usage and translations of the word shell corporation.
Princeton's WordNet
shell corporation, shell entitynoun
a company that is incorporated but has no assets or operations
Wikipedia
Shell corporation
A shell corporation is a company or corporation that exists only on paper and has no office and no employees, but may have a bank account or may hold passive investments or be the registered owner of assets, such as intellectual property, or ships. Shell companies may be registered to the address of a company that provides a service setting up shell companies, and which may act as the agent for receipt of legal correspondence (such as an accountant or lawyer). The company may serve as a vehicle for business transactions without itself having any significant assets or operations. Shell companies are used regularly for tax evasion, tax avoidance, money laundering, or to achieve a specific goal such as anonymity. Anonymity may be sought to shield personal assets from others, such as a spouse when a marriage is breaking down, from creditors, or from government authorities. Shell companies can have legitimate business purposes. They may, for example, act as trustee for a trust, and not engage in any other activity on their own account. This structure creates limited liability for the trustee. A corporate shell can also be formed around a partnership to create limited liability for the partners, and other business ventures, or to immunize one part of a business from the risks of another part. Shell companies can be used to transfer assets from one company into a new one, while leaving the liabilities in the former company.
ChatGPT
shell corporation
A shell corporation is a company that exists only on paper, with no physical premises, employees, or products. The corporation is set up usually for financial maneuvers such as business transactions, tax avoidance or evasion, hiding assets, or to act as a front for illegal activities. It does not engage in any real business operations or produce goods/services. The company's main purpose is to manage the funds of another entity, often for tax purposes.
Matched Categories
Numerology
Chaldean Numerology
The numerical value of shell corporation in Chaldean Numerology is: 3
Pythagorean Numerology
The numerical value of shell corporation in Pythagorean Numerology is: 2
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"shell corporation." Definitions.net. STANDS4 LLC, 2023. Web. 25 Sep. 2023. <https://www.definitions.net/definition/shell+corporation>.
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