These two offshore terms are commonly misconceived and get mixed up, due to the similar lettering, as well as due to media reporting connected to illegal activities and money laundering.
However, these two companies don't have pretty much anything in common:
1. SHELL company is a non-operative structure, mostly used to maintain a bank account or as a tool to perform specific transactions. After that, it gets closed. Due to the high level of confidentiality, it's getting harder and harder to open a bank account with a shell company.
2. SHELF company is an aged corporation that has had no activity - it was put on the “shelf” to “age”. Many offshore service providers are trying to sell these companies to their clients claiming they are good for saving time and effort involved in creating a new company, for having the ability to bid on contracts, etc.
Andrew Henderson is the world's most sought-after consultant on legal offshore tax reduction, investment immigration, and global citizenship. He works exclusively with six- and seven-figure entrepreneurs and investors who want to "go where they're treated best".
Work with Andrew: https://nomadcapitalist.com/apply/
Andrew has spent the last 11 years studying and personally implementing the Nomad Capitalist lifestyle, and has started offshore companies, opened offshore bank accounts, obtained multiple second passports, and purchased real estate in a more than 20 countries.
He has also spent years creating a behavior-based system that helps people get the results they want faster and with less resistance. Andrew believes that everyone can use offshore strategies to keep more of their own money, live a life of freedom, and grow their wealth faster.
About Andrew: https://nomadcapitalist.com/about/andrew-henderson/
Our website: https://www.nomadcapitalist.com
Buy Andrew's book: https://amzn.to/2QKQqR0
DISCLAIMER: The information in this podcast should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.