The State of Texas lies in the Southern US, on the border with Mexico, and in terms of population it is second only to California. The State is home to two cultures - a European culture (in such great cities as Houston and Dallas) and a Mexican culture (in the majority of rural areas).
In the State of Texas, on the Gulf of Mexico, there are popular and attractive resorts attracting tourists from all over the world.
The motto of the state of Texas is "Friendship".
Registration of companies in Texas is carried out by the Texas Secretary of State, Statutory filings Division.
In common with other states of the USA, Texas corporate law offers the possibility of establishing a Sole Proprietorship, a General Partnership, a Limited Partnership, and C Corporations. However, the corporate entity that is most appropriate for international business purposes is the Texas Limited Liability Company (LLC). More detailed information about Texas LLC companies is given below.
| GENERAL INFORMATION | Total area - 695,673 sq km
Population - 20,852,000
Location - click here to see the map of offshore jurisdictions
Political status - State of The United States of America
Capital - Austin
Official language - English
Official currency - US Dollar
Time zone - GMT - 6 / GMT - 7 |
| Company type | Limited Liability Company (LLC) |
| Officers & Shareholders | Management and ownership of Texas LLC companies is vested in the Members of the LLC, who act as both shareholders and officers of the company.
The Members may be natural persons or corporate bodies from any legal jurisdiction.
Member information is generally stated in the Articles of Organization of the LLC.
Texas LLC companies require a minimum of 1 Member, who may act as sole operating officer (i.e. Director/President, Secretary, Treasurer, etc.). |
| Authorised Capital (Equity) | Standard authorised equity (capital) = USD 50,000.
There is no statutory requirement for capital to be fully or partly paid on incorporation. |
| Company Names | Company names should end with the words "Limited Liability Company"; "Limited Company" or the suffixes "LLC"; "L.L.C."; "LC"; "L.C." or "Ltd. Co.".
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 Texas state authorities. |
| Filing of Annual Return | An Annual Return must be submitted on the 15th of May every year following the year of registration. |
| Filing of Financial Statement | There is no general requirement to file Financial Statements for an LLC company that has no business activities or income in USA and where management and control is carried out by Members who are not USA residents.
All companies must maintain adequate accounting records. |
| Corporate Taxation | LLC companies which have no business activities in USA; do not derive any income from USA sources, and are managed and controlled by Members who are not USA residents, are exempt from USA Federal and State corporation taxes. |
| Tax Treaties | LLC companies which have no business activities in USA; do not derive any income from USA sources, and are managed and controlled by Members who are not USA residents, are not regarded as resident for tax purposes in USA and therefore are not entitled to take advantage of international Double Taxation agreements concluded by the USA with other countries. |
| 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 Texas LLC | 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 Texas LLC | USD 1,640, including incorporation costs, full domiciliary (Registered Agent/Office) costs, Nominee services and legal support services for one year. |
| Cost of annual support services | USD 780 per year, including full domiciliary (Registered Agent/Office) costs, annual franchise taxes, Nominee services and legal support services for each year. |
