User Guide: Purchase a Company
Company Registration
Company DAO sells shelf companies which are registered in advance to simplify the on-boarding process for our clients. To register a company, we create a smart contract, called a ‘Pool Contract’ and register the smart contract as a legal entity in jurisdictions which have adopted the necessary legal framework. Each entity is registered by our operating company Delta Alpha Omega DAO LLC and adopts our Standard Operating Agreement which points to the entity’s Pool Contract as a single source of truth for any decision making and corporate actions within the company.
Transfer of Ownership
When a company is purchased through companydao.org ownership of the company’s Pool Contract is transferred to the client’s wallet address. This transaction constitutes a legal change of ownership of the legal entity. To purchase a company, complete the following steps :
- Go to app.companydao.org/acquire_company
- Choose the network for your company. The smart contract registered in your company’s articles of organisation will operate on this blockchain network.
- Choose the type of entity you want to purchase. The entities on offer may vary by jurisdiction, included services, tax regime and legal form.
- Provide your contact details to receive important notifications about your company.
- Choose a display name for your company. This name will be used as a ‘trademark’ in the Company DAO app, the legal name of your company can be changed separately.
- Review and agree to the Operating Agreement and Management Agreement.
- Sign in using your wallet or social log-in. When you use social login a contract wallet will be created based based on your log-in credentials.
- Upload a photo of your ID for KYC. We use a certified 3rd party for verification: shuftipro.com.
- Review the company’s credentials and pay using a credit card or crypto.
At the time of purchase company enters into a management agreement with Delta Alpha Omega DAO LLC, enabling us to provide business administration services to our clients after the company has been purchased. As the company’s new owner, you can terminate the Management Agreement at any time and make changes to the Operating Agreement.
Proof of Ownership
To prove that you own the company, you can check the smart contract address found in the company’s articles of organisation on the government website and see that it matches the Pool Contract which was transferred to your wallet at the time of purchase. Here’s an example of that document :
Additionally, you can head over to app.companydao.org/kyc to generate a signed affidavit from our manager which will say that you are the beneficiary. Here’s an example of that document :
