noun
shell company; dummy corporation; bogus company
A company that exists only on paper, with no real business operations, often used for tax evasion or money laundering.
wasei-eigo (Japanese-coined English), from paper company
その会社は実体のないペーパーカンパニーだった。
That company was a shell company with no real substance.
ペーパーカンパニーを使って脱税する事件
A case of tax evasion using a dummy corporation came to light.