What is a shell company?

A shell company is a business entity that exists only on paper and has no significant assets or operations. These companies are often used for various purposes, including tax evasion, money laundering, or to facilitate business transactions without revealing the identities of the actual owners. To summarize, a shell company is essentially a legal entity that lacks substantial business activity or assets. It can serve multiple functions, such as hiding financial activities or providing anonymity in business dealings.