COMPANY FORMATION IN USA DELAWARE
Delaware is a small but business-friendly American state. Close to several East Coast metropolitan areas, including Philadelphia, Washington, D.C., and New York City. Foreign entrepreneurs and local investors open businesses in Dover or any other Delaware city for tax optimization. The lack of VAT and generally relatively lower tax rates are the main reasons why more than a million businesses are in the state. Registering a company in Delaware also allows for limited liability under established corporate law.
WHY REGISTER COMPANY IN USA DELAWARE:
- confidentiality of owners;
- the possibility of creating companies with 100% foreign investment;
- no restrictions on the minimum amount of capital;
- ability to start a company in Delaware with a single owner;
- no need to live in the state or register a legal address in the state when setting up a company;
REGISTRATION IN USA DELAWARE:
A corporation needs at least one director and one shareholder. Corporate directors are not permitted. A president, treasurer, and secretary must be appointed, although one person can hold all these offices. There are no residency requirements, however, the corporation’s registered office and registered agent must be situated in Delaware. Registered office and agent details are included in the corporation’s Certificate of Incorporation, and details of all directors and officers must be filed with the annual franchise tax. There are no minimum capital requirements. The law permits shareholders and directors to act by written unanimous consent, meaning that shareholders and directors do not need to hold meetings unless required by the corporation’s Certificate of Incorporation or its bylaws.
Corporate governance for LLCs is managed by a written agreement between its members.
There are no restrictions on the type of business a corporation can carry out. Delaware permits a general-purpose clause for any legal business activity for which a corporation is incorporated. LLCs may not take on the business of insurance or banking for which licences are required.
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