Shelf AG.
Institutional vehicle, 5-to-10-day transfer.
Pre-registered Aktiengesellschaft with €50,000 Grundkapital, Aufsichtsrat constituted with interim members, never traded.
Shelf AG is for deals that require the Aktiengesellschaft form on a tight timeline: IPO pre-launch, pre-listing SPACs, capital-markets licence filings, or PE deals where the target wrapper must be an AG. Transfer is more involved than shelf GmbH because the Aufsichtsrat must be reconstituted via Hauptversammlung resolution, not just a share endorsement.
Why transfer takes days, not hours
AG shares transfer differently from GmbH: Namensaktien by endorsement and entry in the Aktienregister (§ 67 AktG); Inhaberaktien by delivery. The real timeline driver is the Aufsichtsrat: interim members exit, new members appointed via Hauptversammlung or Aufsichtsrat co-option. Vorstand is replaced by Aufsichtsrat resolution.
Mantelverwendung analog
BGH Mantelverwendung jurisprudence applies analogously to dormant AGs. Economic re-formation disclosure at HR is part of our standard scope, same as with shelf GmbH.
When shelf AG fits
Institutional deal requiring AG wrapper on a fixed closing date. PE transaction where the target must be AG. Pre-IPO vintage. Regulatory licence demanding AG capital and governance. Outside these narrow use cases, a shelf GmbH with later Formwechsel to AG is cheaper.
Downgrade path
If the AG turns out unnecessary, Formwechsel to GmbH under §§ 190-225 UmwG is possible, tax-neutral under § 25 UmwStG if conditions met.
Often booked alongside this one.
Frequently asked questions
What is a shelf AG in Germany?
Pre-registered Aktiengesellschaft with €50,000 Grundkapital paid in, supervisory board constituted with interim members, never traded.
How fast can I take over a shelf AG?
5 to 10 working days. Aufsichtsrat reconstitution adds time vs shelf GmbH.
How much does a shelf AG cost in 2026?
€55,000 to €65,000 for a young shelf AG. Aged AG premium €3,000 to €10,000 per year.
Does the shelf AG come with a functioning supervisory board?
Yes, with interim members. New members replace them via Hauptversammlung or Aufsichtsrat co-option at takeover.
Can a non-resident acquire a shelf AG?
Yes. Share transfer by endorsement (Namensaktien) or delivery (Inhaberaktien) works without residency.
Why is shelf AG transfer longer than shelf GmbH?
AG governance: three-body structure with Aufsichtsrat must be reconstituted, not just a share-transfer deed.
Are shares in a shelf AG registered (Namensaktien) or bearer (Inhaberaktien)?
Usually Namensaktien in modern Germany. Inhaberaktien are rare post-transparency-regime tightening.
Can I later convert a shelf AG into a GmbH?
Yes, Formwechsel under UmwG §§ 190-225. Tax-neutral under § 25 UmwStG.
Does Mantelverwendung jurisprudence apply to dormant AGs?
Yes, analogously. Disclosure of economic re-formation is part of our standard scope.
What is the audit obligation right after takeover?
§ 316 HGB requires AG audit regardless of size. Plan for audited accounts in year one.
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