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How to sell a 22 year old Wyoming Inc.?

T

tshore

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Sep 3, 2019
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#1
Hi,

I own a company (Inc.) registered in Wyoming in 1997. The company has once been owner of a trademark but it never did any actual business, so no bank account.

I don't need it any more and it only generates fees, so - could I sell it? How? And how much could I ask?

Thanks for some help...
 
#4
A company 20 years old, with annual great turn over can be worth 20 k as you seen or even more. I bought a German GmbH for 40k euros.
But without activity or numbers made, the price going down.
To keep the value of the company, the buyers will ask for no change in owner ship, it is risky for you.
If you don't need money, just close it.
 
#7
Because it can have a impact on taxes if you can prove to have owned the company back in 1997 - What documents are available to prove your statement OP - the fact that you never have used it and there are no liabilities are total mouth spoken and no evidence that it is true.

Do you have any legal documents that can confirm this? if not I will not even pay you $1 for this company.
 
#8
<<snippet>> said:
Because it can have a impact on taxes if you can prove to have owned the company back in 1997 - What documents are available to prove your statement OP - the fact that you never have used it and there are no liabilities are total mouth spoken and no evidence that it is true.

Do you have any legal documents that can confirm this? if not I will not even pay you $1 for this company.
Click to expand...

What are the tax implications?
 
#9
It depends very much on your situation, business and where you live all factors which can benefit one or another.
 
#10
OrangeTIco said:
Can someone explain why someone would pay more for a company from 1997 then one from 2019 ?
Click to expand...
The interest is the credit score. A new company got 0 , an old one got a credit score calculated on basis of annual turn over and how old the company is ( Only if you don't change the ownership after buying the company ).
In this case the big credit insurance companies ( coface, Euler Hermes etc.. ) will protect their customers for any unpaid commercial invoices.
So for example , if you buy an old company which is scored 100k USD , you can buy from suppliers for this amount in total, without upfront payment ( 30-60-180 days). The supplier will allow it b cause he knows that he got the cover by his insurance company.
 
#11
How could I prove with documents that it has never been used apart from a statutory declaration? I can hardly ask every bank in the world to confirm that there has never been an account for that company.
 
#12
Well, you may include in the sale contract that the balance sheet and income statement that you have prepared for the sale are true, and that there are no hidden liabilities and personally guarantee to cover anything that may arise from any date prior to the sale date.

Without something of that order nobody will touch it I think, but you never know.
 
#15
Find a lawyer or agent that can help you sell the company. For that amount you won't find anyone here unless you offer a ESCROW deal.

As an admin that get shitloads of scam reports these days, I would recommend anyone interested to user escrow.com or similar if they consider to buy this company.

Offshorecorptalk.com will not at any point take responsibility for such stuff.

In the very near future we will have finished our onboard & inhouse ESCROW system which can be used by verified sellers of this forum and we will recommend using this once it is live. More information will follow soon.

Have a nice day cig-:,
 
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