Nikita Veremeev
05.01.2026 | 6 min read
Updated: 05.01.2026
I welcome you as the CEO and founder of COREDO. Over nine years my team and I have helped hundreds of entrepreneurs from Europe, Asia and the CIS successfully acquire ready-made companies: shelf companies – in key jurisdictions such as Cyprus, Estonia, the Czech Republic, Singapore and Dubai. Buying a ready-made company often proves faster and more cost-effective than registering one from scratch, especially if you need history for bank accounts or licenses. But without thorough checks before purchase, even a promising asset can turn into a headache. In this article I will share a practical checklist for buying a business, based on our due diligence experience, so you can confidently close deals.
It is important to state upfront: buying a shelf company is not a risk-free shortcut, but a tool that shifts risks from the registration stage to the due diligence stage. While risks develop gradually when creating a company from scratch, when buying a ready-made legal entity you inherit its entire history – even the parts the seller may not know about or prefers not to disclose.
That is why professional Due Diligence before buying a shelf company is more important than in classic M&A: the monetary cost of an error here may be lower in relation to the deal size, but the consequences are greater – account freezes, bank refusals, license revocations.
Why use a shelf company for international business?
A shelf company is especially relevant when time is a critical factor: market entry, participation in tenders, opening accounts or Licensing. Banks and regulators in many jurisdictions look at a company’s “age” as an indirect indicator of stability, even with zero operational history.
A ready-made company with a track record provides instant access to EU markets, Asia and the CIS. Our experience at COREDO has shown: clients who buy a shelf company in Cyprus or Estonia save up to 6 months on launch and avoid the bureaucracy of initial registration. Imagine: you receive a legal entity with a clean balance sheet, open accounts and even basic licenses — ideal for buying a ready-made company in the EU or registering legal entities in Asia.
The term “clean company” is often misleading. The absence of operations does not mean the absence of risks. A company may have been part of an ownership chain, used as an SPV, had nominee directors or filed reports formally. All of this shapes an AML and banking risk profile that is not always visible on the balance sheet.
The COREDO team recently completed a deal to purchase a ready-made company in Singapore for a client from the CIS. Instead of waiting for approval from ACRA (the local registrar) they took a shelf company with a three-year history, which allowed them to immediately apply for a payment license. Result: operations launched within 45 days and an ROI of 25% in the first year. Such cases confirm: the right choice of jurisdiction strengthens competitive advantages.
In such cases a shelf company is justified if:
- the company’s history is transparent and documented;
- there have been no banking incidents or refusals;
- the beneficiary structure is simple;
- the owner-change scenario is understood in advance by banks and regulators.
Without these conditions a shelf company turns into a “black box”.
Due diligence checklist step by step
Company due diligence is not a formality, but an investment in safety. COREDO’s practice confirms: 70% of deals fall through due to hidden risks, such as debts or AML problems. Here is our proven checklist for buying a business, adapted for purchasing a ready-made company in Europe, Asia and the CIS.
Due diligence when buying a ready-made company is not just a “checkbox for the lawyer”, but a management tool. Its goal is to assess not only legal cleanliness, but also the company’s suitability for your objectives: banks, licenses, scaling and investors.
Checking the business and beneficial owners
Request full UBO (ultimate beneficial owners) data through registries such as the Cypriot Department of Registrar of Companies or the Estonian e-Business Register. Checking directors and nominee directors is mandatory — use databases like World-Check for reputational risks.
Pay special attention to former beneficiaries and directors. Even if they have formally left the structure, their history can “follow” the company in banking and sanctions databases. In the EU under 6AMLD responsibility and risk extend to historical connections, especially if the company plans to work with finance or investments.
The solution developed by COREDO includes an audit of the company’s beneficiaries and nominee directors: we identified front owners in a shelf company from the Czech Republic, which saved the client from fines under EU AMLD6. Also check legal cleanliness: articles of association, changes in the register, and lawsuits. For buying a ready-made company in the EU, compliance with GDPR and local substance laws is key.
financial audit of a ready-made business
A financial audit of a ready-made business reveals the real picture. Analyze the balance sheet and P&L (profit and loss statement) for 3–5 years under IFRS, tax returns, and reconciliation statements with counterparties. Pay special attention to checking the company’s debts, loans, and leases. Checking loans and leases prevents surprises: in one COREDO case they found hidden obligations under equipment leasing in a Dubai company for €150,000.
In addition to the standard financial audit, at COREDO we recommend conducting a simplified Quality of Earnings (QoE). It shows how stable and repeatable revenues are and whether they depend on one-off factors. For a shelf company this is especially important, because an investor or bank will assess not the past, but the company’s potential for future use.
Evaluate financial indicators (DDS, cash flow statement) and conduct financial stress tests. For assessing ROI from purchasing a shelf company in Asia we build DCF models with sensitivity analysis; an IRR above 20% signals a green light. How to check the debts and loans of a ready-made company before buying? Request statements from credit bureaus and banks.
Checking bank accounts and licenses
Checking the company’s bank accounts is a priority due to the risk of blocking. In the EU, banks like HSBC in Cyprus require KYC on beneficiaries when the owner changes. At COREDO we simulate account transfers: we check the transaction history and FATF flags FATF.
The existence of an open bank account does not mean it will be retained after an ownership change. In 80% of cases banks conduct repeat KYC/EDD when the UBO changes, and sometimes close the account preventively. Therefore, verification must include not only the fact of the account’s existence but also an assessment of the likelihood it will be retained.
Licenses when buying a business do not always transfer smoothly. For crypto or payment licenses (EMI in Cyprus, MAS in Singapore) regulator notification is required. Checking licenses and SROs before an M&A deal includes an audit of permits: in Slovakia COREDO ensured the transfer of a forex license without pauses. We minimize the risk of account blocking when acquiring a ready legal entity through pre-approval by bankers.
Due diligence: assets, IT and personnel
Inventory of business assets, stock, equipment. Conduct technical examination of equipment and inventory with independent appraisers. IT infrastructure due diligence is critical: check CRM systems, accounting software, corporate mail, and software license transfers. What to check in IT infrastructure when buying a company? Access rights, backups, and compliance with ISO 27001. In an Estonia case the COREDO team integrated systems within a week, avoiding downtime.
An often underestimated risk is the loss of operational control after the deal. If access to IT systems, domains, hosting and corporate mail are registered to third parties or former directors, the company is effectively unmanageable. This is critical for fintech, e-commerce and investment platforms.
Checking key employees and employment contracts preserves expertise. We assess key employees’ motivation through surveys. For government contracts and tenders: due diligence of government contracts — checks for sanctions and arbitrations.
AML and compliance risks
AML checks of the business are the basis of trust. How to minimize AML risks when buying a legal entity in the EU? We carry out KYC/AML procedures, screening for PEP/Sanctions. Hidden AML risks related to nominee directors are identified through extended searches. COREDO’s practice confirms: company compliance checks reduce fines by 90%.
AML and compliance are the main “deal killers” for ready-made companies. Even with perfect legal and financial checks, hidden AML incidents can close the company’s access to banks and licenses after the deal. Therefore AML due diligence must run in parallel with legal and financial due diligence.
COREDO Cases: from due diligence to growth
- Cyprus, EU: The client bought a shelf company with an EMI license. Our legal business review revealed minor debts, which were settled within 10 days. Result: payments launched, expansion into the CIS, ROI 32%.
- Singapore, Asia: Registering legal entities in Asia via acquisition. Financial audit showed a strong P&L; AML check was clean. Scaled to Dubai.
- Estonia: Legal support for M&A with verification of the SRO and government contracts. We handed over the digital signature and CRM: operations are uninterrupted.
Experience shows: a successful purchase of a shelf company is not luck but the result of systematic due diligence. The higher the cost of a mistake (banks, licenses, investors), the deeper the due diligence must be.
At COREDO we treat the purchase of a ready-made company as an investment project with its own risk/return profile – and we structure the review accordingly.
Recommendations from COREDO
Buying a ready-made company is a powerful tool if supported by due diligence. The COREDO team offers a comprehensive package: from pre-purchase company checks to post-deal support. Contact us – we’ll turn your deal into a success. We focus on transparency, time savings, and long-term partnership.