USA Limited Liability Company Legislation
The LLC have been a traditional form of business structure in Europe. In Germany for example, the LLC is the equivalent to a “GmbH”. The LLCs made their way to the United States in the late 70s, with Wyoming being the first state to introduce legisation, as of today they are accepted as form of business in every state. LLCs are very popular since they combine advantages of a partnership with those of a corporation.
Time to Incorporate
Most states normally incorporate between 24 and 48 hours
Corporate Structure of a USA LLC
- No directors required
- Only one member – can be corporate
- No requirement for local member(s) for USA Companies
Privacy
The USA incorporation documents do not carry the name or identity of the members. As such no names appear on the public record.
Confidentiality
Member nominee services are allowed to ensure confidentiality of beneficiaries.
Capital Structure of a USA Limited Liability Company
- There is no share capital
- Certificates are issued to show a members percentage ownership of the company
- Members liability is limited to their contribution
Taxation
- The LLC itself does not pay tax, the members are liable for profits derived from the partnership
- Foreign members resident outside the USA only pay income tax on income derived in the US
Annual Financial Statements and Company Records
There is no requirement for filing annual returns or audited financial statements.
Meetings of USA LLC Members
- Meetings can be held anywhere in the world.
Doing Business with USA Residents and Companies
There is no restriction on doing business with US residents, however if the LLC is foreign or non resident owned tax will be liable on profits generated within the USA.
Doing business with the Rest of the World
There are no restrictions for USA LLC´s to carry on any legitimate business.
The USA LLC incorporation package includes:
- First year government filing fees
- Certificate of Formation
- Memorandum and Articles of Organisation
- Member Certificates
- Registered agent services, (first year)
- Registered office, (first year)
- International express delivery by FedEx or DHL
Names
The company may not use a name identical or similar to an existing company so as to cause confusion. The name must end: LLC, L.L.C., or Limited Liability Company