A readymade company, also known as a shelf company or aged company, is a pre-registered entity that has been incorporated and is ready for immediate use. It allows businesses to start operating without going through the time-consuming process of company formation.

Buying a readymade company saves time and effort, as the entity is already registered. It enables faster entry into the market, enhances business credibility, and may provide historical financial records that can be beneficial for certain transactions.

Yes, you can typically change the name and other details of a readymade company after purchase. This process involves filing the necessary paperwork with the relevant authorities to update the company’s information according to your preferences.

Potential disadvantages include higher initial costs compared to forming a new company from scratch. Additionally, the existing history and reputation of the readymade company may not always align perfectly with the buyer’s business goals.