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Despite the fact that the State of Delaware is one of the smallest in the USA, when it comes to registration of business structures it is unrivalled in the world - there are over 400,000 enterprises registered in this small State alone.
The State of Delaware is proud of its designation as "the First State", given to it, as it was the very first State to ratify the constitution of the new United States of America in 1787.
These days, Delaware has an excellently developed infrastructure, hi-tech communications links, and a first-rate situation, lying exactly halfway between the cities of New York and Washington DC.
For entrepreneurs throughout the world, Delaware is one of the most attractive places for registering their international business operations, on account of its liberal company law and its simple company registration procedures.
In common with other States of the USA, Delaware corporate law offers the possibility of establishing a Sole Proprietorship, the General Partnership, the Limited Partnership, the C-corporation, and the Limited Liability Company (LLC). Below we describe the Corporation - the second most popular type of business structure with entrepreneurs, after the LLC.
| GENERAL INFORMATION | Total area - 5005 sq km
Population - 690,000
Location - click here to see the map of offshore jurisdictions
Political status - State of The United States of America
Capital - Dover
Official language - English
Official currency - US Dollar
Time zone - GMT - 5 |
| Company type | Corporation |
| Officers & Shareholders | The Directors of the Corporation may be natural persons from any legal jurisdiction.
Director information is generally stated in the document - Statement of Incorporator in lieu of organization meeting.
Delaware Corporations require a minimum of 1 Director.
Legislation of the State of Delaware does not require to disclose information about corporation's shareholders to Delaware state authorities.
No requirement for there to be a company secretary. |
| Authorised Capital (Equity) | Standard authorised capital of corporation is divided to 1500 shares without nominal value.
There is no statutory requirement for capital to be fully or partly paid on incorporation. |
| Company Names | Company names should end with the words "Incorporated"; "Corporation"; "Limited"; "Company"; "Association"; "Foundation"; "Syndicate"; "Union" or the suffixes "Inc."; "Corp."; "Co."; "GmbH" or "Ltd.".
Company names containing restricted words such as "Bank", "Insurance", "Trust", "University", "College" etc. will not be permitted unless an appropriate State operating licence has been obtained by the company. |
| Beneficial Ownership information | There is no statutory requirement for ultimate beneficial ownership information to be disclosed to Delaware state authorities. |
| Filing of Annual Return | An Annual Return must be submitted on the 1st of March every year after the year of registration. |
| Filing of Financial Statement | For companies, who have a US taxpayer identification number (EIN number), the Financial Statement must be submitted every year. |
| Corporate Taxation | Flowing tax rate 15-39% depending on turnover, is applicable for companies who have a US taxpayer identification number (EIN number). |
| Tax Treaties | United States has concluded double tax treaties with more than 50 countries worldwide. |
| Timeframe for incorporation | 2/3 working days. A complete set of company documents can be delivered in 3/4 weeks. |
| Takeover of management & secretarial services for an existing Delaware Corporation | Possible, following verification of Beneficial Ownership and discharge of liabilities to previous corporate service providers. |
| Description of incorporation documents | Click here for itemised description of company documents. |
| "Ready-made"("Shelf") companies | Today we have 4 "Ready-made" USA companies available (click here for list of companies) |
| Price of Delaware Corporation | USD 1,190, including incorporation costs, full domiciliary (Registered Agent/Office) costs, Nominee services and legal support services for one year. |
| Cost of annual support services | USD 570 per year, including full domiciliary (Registered Agent/Office) costs, annual franchise taxes, Nominee services and legal support services for each year. |
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INTERNATIONAL OVERSEAS SERVICES has the following comments: -
At present, the State of Delaware is very successive in terms of the number of company registrations, both by comparison with other States and as a whole in terms of the number of companies used by entrepreneurs from the other countries. The success of this State is connected in the first instance with its liberal registration procedures and its moderate registration fees.
We should like to emphasise that unlike an LLC, a corporation does not possess the sort of economic structure that enjoys exemption from taxation in the USA. In practice, if a corporation does not have a taxpayer registration number (EIN) in the USA, it is regarded in that country as "dormant", i.e. not carrying on business. In this way, a company, provided that it does not carry on an activity within the USA, can theoretically remain registered for many years. However, we are bound to repeat that corporations incorporated in the USA do not, by law, enjoy exemption from tax.
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