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General Information
- Type of Company – Limited Liability Company (LLC).
- Legislation – Limited Liability Company Act of Delaware, 1990.
- Company name - A company name must contain the words ‘Limited Liability Company’ or the abbreviation ‘LLC’. Restrictions are imposed on the following: Bank, Insurance, University, Trustee, and Trust.
- Time-scale for incorporation - 7 to 10 days.
- Disclosure of beneficial owners is NOT required.
- Double tax treaties – Non-resident LLCs are NOT subject to the US DTTs.
- Ready-made companies are available.
Local Requirements
- Registered Office and Registered Agent must be maintained.
- Company Secretary is NOT required but advisable. May be a natural person or corporate body in any country.
- Public recording at the Registry applies only to information on the Registered Agent and the initial members.
- Accounts are not required for public filing.
Corporate Requirements
- Minimum number of shareholders/members - One (1). May be a natural person or body corporate that may reside anywhere in the world.
- Minimum number of directors/managers - One (1). May be a natural person or body corporate that may reside anywhere in the world. A member may also act as the director of the company.
- Minimum capital requirement - None.
- Standard Authorised Capital - US$2,000. The company does not issue shares, but instead register the owner’s equity participation in the company’s register.
- Bearer shares are NOT permitted.
Annual Requirements
- Annual return and annual statutory meetings are NOT required.
- Statutory accounting is NOT required.
- Annual registration fee or annual tax of US$200 per annum payable to the States of Delaware.
- Taxation - NO tax implications, if the company is operated outside the USA.