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When it comes to incorporating your business, Delaware is often the popular choice because it is known for having the strongest corporate law structure. What this means to the members of a Delaware LLC is better protection of their personal assets and lower liability.
When a company is incorporated in Delaware, it is considered domestic to Delaware and foreign to every other state. The process is which another state gives your company the authority to operate there is called Foreign Qualification.
This often-overlooked process is very important. Without it, you may be putting your business at risk—if it isn’t in compliance, you could face significant fines and/or fees.
Nevada also requires that you have a Registered Agent in Nevada for the purpose of receiving any service of process or legal documents.
Nevada mandates that the members of the Delaware LLC sign the application. It will also be required to list the business address on the application, which will become a part of the public record.
Once your company is registered as a foreign entity in Nevada, please keep in mind that the business will be responsible for keeping up with the Delaware annual compliance fees as well as the Nevada annual compliance fees in order to remain in good standing. These notices are often sent to your Registered Agent, who should forward them to you.
If you would like assistance in registering your Delaware LLC as a foreign entity to do business in Nevada, please call us at 1-800-345-2677, Ext. 6130 or email firstname.lastname@example.org
THE AUTHOR OF THIS BLOG ARTICLE IS NOT A LAWYER AND HARVARD BUSINESS SERVICES, INC. IS NOT A LAW FIRM. THE ARTICLE ABOVE IS NOT INTENDED AS LEGAL ADVICE AND SHOULD NOT BE TAKEN AS LEGAL ADVICE. THIS SHORT ARTICLE IS STRICTLY TO MENTION SOME ASPECTS OF DELAWARE’S CORPORATION LAWS AND/OR LAWS RELATING TO OTHER FORMS OF ENTITIES WHICH YOU MAY NOT BE FAMILIAR WITH. WE RECOMMEND THAT YOU CONSULT WITH A LAWYER BEFORE FORMULATING A STRATEGY WHICH WILL BE SUITABLE FOR YOUR SPECIFIC CASE.
There is 1 comment left for Operating a Delaware Company in NevadaChristine Marielle Tumang said: Thursday, June 29, 2017
Starting a company in another country is very challenging. Just like here in the Philippines, there are firms that you can connect to, for you to know and be aware of the incorporation process of the country.