Delaware Company Formation
United States of America is not kind of tax heaven but there is the provision in the legislation as per which LLCs or Limited Liability Companies are allowed to be incorporated and in some special and rightful circumstances, they are free from any tax liability. Normally, LLC is not considered to be a corporation and while at the same time it is not even a partnership. So, the best way to describe in the context of USA, would be a kind of partnership, legal person has went in and which have the limited liability. Limited Liability Company would itself not be taxed, instead the income it generates on the hands of members or owners of the company, shall amount to the tax.
A USA incorporated company, which have non-residents of USA as members, and neither conducts any business nor have any income, then such companies would not be subjected to any tax, whether it will be federal tax or state income tax. Delaware, New York, New Jersey, Wyoming Oregon, Florida, Arkansas and Washington are those states where LLCs could be incorporated and there is only the requirement of annual license fee and annual report of the company.
Requirements for Incorporation
There are certain requirements to incorporate a company in Delaware, details of which is given below:
There is a minimum requirement of one director and none of the appointed directors need to be the resident of Delaware. Corporate directors are allowed to be appointed. There is no requirement to hold director’s meeting but public director’s register are required to be maintain.
There is minimum requirement of one secretary and none of the appointed secretaries need to be the resident of Delaware. Corporate secretaries are allowed to be appointed. There is no requirement for the secretary to hold any professional qualification.
There is a minimum requirement of one shareholder in order to incorporate a company in Delaware. Corporate shareholders are allowed to be appointed. There is a requirement to maintain and keep public shares register but par value of shares are not permitted. Authorised share capital is usually 1000 shares with value of USD 1 each. It is not allowed to have bearer shares.
Please refer to fee schedule section for proper guidance on incorporation fee. Generally, incorporation fee includes:
Once you get incorporated, this is what you’ll get:
It generally takes 1-2 weeks to incorporate a company in Delaware.
Offshore Bank Account
For the offshore bank account please see our fee schedule section.
A registered agent for the company incorporation is not required. There is no need to declare beneficial ownership of the shares to authorities, where all or some shareholders are nominees. In addition to this, annual return of the company is also required.