shell corporation

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Related to shell corporation: Shell company

Shell corporation

An incorporated company with no significant assets or operations, often formed to obtain financing before beginning actual business, or as a front tax evasion.

Shell Corporation

A company that exists as a vehicle for transactions without any independent activities or assets. Shell corporations are formed sometimes to obtain financing before they begin operations, or after a bankruptcy and business has ceased. They are also used in tax avoidance and tax evasion schemes: for example, companies may set up shell subsidiaries in tax havens and hide profits in them. See also: Reverse acquisition.

shell corporation

A corporation that has no active business operations and few or no assets.
References in periodicals archive ?
Typically these shares are purchased from someone who already has purchased most of the outstanding stock and is offering to sell control of the shell corporation.
Helped Pinochet set up offshore shell corporations and open accounts in the names of those corporations to disguise his control of the accounts;
It assigned the Public Money Protection Committee to revisit the contract signed between Kuwait Petroleum Corporation and energy giant Shell Corporation.
Once Medicare started paying the co-conspirators, Martin Tasis enlisted a family friend, Leoncio Alayon, to help him launder the proceeds of the fraud through a shell corporation in Florida called Infinity Research Corp.
The Y has labeled Gemstone "a shell corporation," noting that its address and the address of Ms.
publicly traded shell corporation that combined with camouflage gear manufacturer American Apparel & Accessories Inc.
You assume it's going to be [leased by] a shell corporation, but checking the credit history of another of their corporations would help," suggested Ray Tekosky, a restaurant specialist with Winick who works on behalf of building owners or the seller of the restaurant.
5 million common shares for 9 cents a share to TiNV1, a shell corporation.
The companies generally retain the subsidiaries for several reasons: (1) the cost of liquidating the CFCs is prohibitive; (2) the liquidation of the company may take several years because of the complexities of foreign laws; (3) the shell corporation may protect the corporate name in a given country; or (4) companies may keep "shelf corporations" in some countries (such as Thailand and Malaysia) in case business activities are resumed in that country in the future.
Chase ceased its prior specialty packaging business operations as of December 31, 1997, and since that time the Company's existence has been as a publicly traded development stage shell corporation.
com published a report on Cellceutix, asserting that it is a shell corporation, its science is demonstrably unviable, it is run by a management team with a history of shareholder value destruction, and its fair value is 96-99% lower than the current price.
a shell corporation owned by Little Rock Internet pet supply retailer PetQuarters Inc.