{"id":156,"date":"2019-11-21T16:08:14","date_gmt":"2019-11-21T16:08:14","guid":{"rendered":"https:\/\/miserve.com.cy\/?page_id=156"},"modified":"2019-11-21T16:08:16","modified_gmt":"2019-11-21T16:08:16","slug":"delware-corporations","status":"publish","type":"page","link":"https:\/\/miserve.com.cy\/?page_id=156","title":{"rendered":"DELWARE CORPORATIONS"},"content":{"rendered":"\n

Advantages:<\/strong><\/p>\n\n\n\n

  1. Delaware is considered the most attractive state in the nation for organizing.<\/li>
  2. Delaware courts have a reputation of reaching reasonable and fair conclusions when construing the corporation laws.<\/li>
  3. Only one incorporator is required. A corporation may be the incorporator.<\/li>
  4. There is no minimum capital requirement.<\/li>
  5. The franchise tax compares favourably with that of other states (usually $30\/year).<\/li>
  6. For companies doing business outside of Delaware, there is no corporation income tax.<\/li>
  7. Delaware has no sales tax, personal property tax or intangible property tax on corporations.<\/li>
  8. No taxation upon shares of stock held by non-residents and no inheritance tax upon non-resident holders.<\/li>
  9. A Corporation may keep all of its books and records outside of Delaware.<\/li>
  10. You may have a principal place of business\/address outside of the State of Delaware as well.<\/li><\/ol>\n\n\n\n

    Regarding the Federal taxes: if you are \nUS citizen or US resident (US taxpayer) and you file taxes in the US, a \nLLC is treated as a partnership and is not subject to corporate income \ntax.<\/p>\n\n\n\n

    Any profits or losses are passed through to the members of the LLC to report on their personal income tax.<\/p>\n\n\n\n

    Therefore, The LLC DOES NOT PAY ANY INCOME TAXES!<\/strong><\/p>\n\n\n\n

    COMPANY FORMATION<\/strong><\/p>\n\n\n\n

    Procedure to form:<\/strong><\/p>\n\n\n\n

    • Corporation:<\/strong> Filing of Articles of Incorporation or Certificate of Incorporation with the Secretary of State.<\/li>
    • LLC:<\/strong> Filing of Articles of Organization or Certificate of Formation with the Secretary of State.<\/li><\/ul>\n\n\n\n

      Language of legalization and corporate documents<\/strong>
      \nEnglish. If any other language is used it must be accompanied by a translation in English.<\/p>\n\n\n\n

      Registered office required<\/strong>
      \nYes. Must be maintained in state of incorporation\/formation at the office of a professional registered agent.
      \nShelf companies available: Yes<\/p>\n\n\n\n

      Time to incorporate\/form<\/strong>
      \nGenerally 2 days, but must allow an additional 5 \u2013 7 business days for delivery of documentation.<\/p>\n\n\n\n

      Name restrictions<\/strong>
      \nCorporation:<\/strong> Anything identical or similar to an \nexisting company within the state of incorporation. Additionally, the \nuse of bank or trust within the name of the corporation is prohibited in\n all 50 states without first obtaining consent from the banking \nauthorities in the state of incorporation.<\/p>\n\n\n\n

      LLC:<\/strong> Anything identical\n or similar to an existing company within the state of formation. \nAdditionally, the use of bank, trust, insurance or reinsurance within \nthe name of the LLC is generally prohibited in all 50 states. This is \nbecause limited liability companies in most states are simply not \nallowed to engage in a banking or insurance business.<\/p>\n\n\n\n

      Language of name<\/strong>
      \nThe name can be in any language. Some recommended states require an English translation.<\/p>\n\n\n\n

      STRUCTURE OF MANAGEMENT<\/strong><\/p>\n\n\n\n

      Directors\/managers<\/strong>
      \nCorporation:<\/strong> The minimum number of directors is one, \nwho must be a natural person. Directors may be of any nationality and \nneed not be a citizen of the United States.
      \nLLC:<\/strong> One manager either a natural person or a body corporate of any nationality.<\/p>\n\n\n\n

      Shareholders\/members<\/strong>
      \nCorporation:<\/strong> The minimum number of shareholders is one.\n A shareholder of a US Corporation may be another corporation (even an \ninternational or \u201coffshore\u201d corporation).
      \nLLC:<\/strong> The minimum number of members is two. This number \n(or greater) ensures automatic tax classification as a partnership, the \nadvantages to which are described above under \u201cTaxation\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"

      Advantages: Delaware is considered the most attractive state in the nation for organizing. Delaware courts have a reputation of reaching […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":119,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-156","page","type-page","status-publish","hentry"],"yoast_head":"\nDELWARE CORPORATIONS | MiServe<\/title>\n<meta name=\"description\" content=\"Advantages: Delaware is considered the most attractive state in the nation for organizing.Delaware courts have a reputation of reaching reasonable and\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/miserve.com.cy\/?page_id=156\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DELWARE CORPORATIONS | MiServe\" \/>\n<meta property=\"og:description\" content=\"Advantages: Delaware is considered the 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