shell
noun [ C ]
FINANCE, LAW uk/ʃel/ us(also shell company); (also shell corporation)a company that has been created to hide illegal activities:
The shell advertised bonds for sale to investors, but this offering was essentially a fraud because no bonds ever existed.
She played a vital role in the bribery scheme by creating a shell company to receive a flow of illicit payments.
a company that has been officially created so that it can be sold to someone who does not want to have to create the company themselves:
Most holding company reorganizations involve a merger between the pre-existing company and a shell company.
a company that was active in the past, but that now does little or no business, that someone buys so they do not have to create a new company:
Maypole was created out of a shell company called Octagon.
shell
adjective [ before noun ]
FINANCE, LAW uk/ʃel/ usused to describe an organization that has been created to hide illegal activities:
The bill would prevent US banks from opening accounts for foreign shell banks.