Delaware is a pretty desirable place to establish a business-structure. Now we’ll discuss in more detail about all privileges of this place and nuances of procedure for launching a firm in this region.
Our experts have the professional knowledge and experience necessary to provide you with comprehensive support when you decide to register commercial activities in any of the US states. We provide licensing assistance and possess an extensive list of ready-made licenses for sale.
Advantages of Delaware for commercial activities
Legislative framework in this space is built very competently, that’s an appealing factor for entrepreneurs from different countries who intend to register commercials there. The main legal acts relating to establishment of firms and their activities in these territories are the laws: “On General Organizations” and “On Limited Liability Firms”, which are annually reviewed and improved by lawyers, taking into account modern trends.
All of these regulations make this state ideal for international business-structures. Firms in these territories may more easily merge or take over other ones. What is special about all advantages is that such actions do not need to request and wait for permission from the competent authorities.
There’s a special Chancery; it resolves business-disputes. Court hears corporate law-basis, there is no jury, and five state expert judges are responsible for making resolutions. This court makes resolutions quite quickly, and that’s famous in all states and is a perfect courting establishment.
All cases further are transferred to local Supreme Court; it marks end of dispute. In the Supreme Court, five judges who have extensive experience in commercial law are responsible for deciding. In addition, the Delaware courts can offer you several options on how to resolve a dispute without litigation.
Since this state has such a developed judicial system, there is a huge number of lawyers and attorneys of various levels of qualifications and experience in different areas of litigation.
Convenient tax system
There aren’t tax-free business-activities in Delaware and you cannot open an offshore firm here, but the government has created favorable conditions and tax incentives for foreign organizations. International firms may get next-mentioned:
- no corporate tax on profits received outside the United States;
- no corporate tax on interest, royalties or other similar income;
- no taxation for sales;
- no inheritance duty;
- no duty on tangible assets;
- shareholders who don’t live locally do not pay duty on shares;
- no duty on shares or shares transfers.
But in these territories there is a franchise fee, it must be paid by all firms being registered locally.
Protecting personal liability of officials
The administration of enterprises in Delaware is not responsible for the consequences of the adopted management decisions that affected the growth or decrease in profits, but only on the condition that their decisions were not taken on purpose to harm company.
Confidentiality is respected there, so any personal data about company and its employees is prohibited from being disclosed. Accordingly, such data is difficult to find in public domain. Locally, even firms with limited liability aren’t needed to list names and addresses of their members anywhere on any document other than operating arrangement. But big enterprises are required to do so in order to pay franchise fees annually.
Friendly conditions for starting a business
Among other benefits, it should be mentioned the following. Delaware has quite loyal conditions for establishment of a new business-structure; in order to facilitate such a process for yourself, you can turn to experts experienced in this matter. They will not only save time, but will also help you comprehend legislation and answer all related questions.
Delaware benefits for businesses
- Enterprise founders aren’t needed to be residents.
- It isn’t necessary to own office-premises in jurisdiction.
- It’s permitted to combine professional roles of shareholder, director and official for top-management persons.
- Minimum administrative burden. Delaware has fewer reports and tax obligations.
The main thing to do is:
- hold registered agents;
- pay franchise fees annually;
- send reports annually.
Contact our experts and we will help entrepreneurs start business in Delaware. We will provide you with comprehensive consultation on all issues, and accompany you at every stage of the procedure for opening and licensing a company.
For the purpose of remote account opening for the company, we act for the company in the role of financial director in the U.S. and open an account. To do this we make changes to the structure of the company with as little involvement as possible. We do not own any shares and have no claim to anything, but we are part of the company, which allows us to open accounts, trade accounts (Stripe, PayPal, PaymentCloud, etc.) and keep accounting.
Our partner in the U.S. is a professional financial director and can provide the process of introducing him to your company without the need to assign a share or claim the client’s company. A corresponding agreement is signed with the client.
Our partner is listed as a financial director with 0% ownership and can therefore open accounts. This is usually achieved by adding to the Operating Agreement that he is appointed as a financial director.
Withdrawal of the financial director is not recommended because the account would be at risk of being closed. Essentially there would be no signatory in the company.
It is possible to “transfer the account” directly to the client upon arrival in the US or to a trusted person. Someone has to be in the US.