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Incorporate in Delaware
Incorporate in Delaware
More than half of the Fortune 500 companies are incorporated in Delaware. Delaware's business-friendly laws, inexpensive incorporation fees, and low annual franchise taxes make it fast and easy to form a Delaware corporation. In fact, many companies will incorporate elsewhere and then later reincorporate in Delaware because they are looking for speed and convenience which they find in Delaware. Protect your personal assets and pay fewer taxes by incorporating your new company in Delaware. Incorporating in Delaware can help you conduct business without worrying that you might lose a home, a car, or any of your personal savings because of a business liability. Delaware is such an attractive state to incorporate in. However, there are many things to consider when deciding where to incorporate your business. These include where you're physically located, the costs to do so, and the corporate legal structure that best suits your needs.
Advantages of Incorporating in Delaware
- You Don't Need to be a Resident of Delaware When incorporating a business in Delaware. You don't have to worry about any residency requirement, as it's not required for you to be a Delaware resident. This applies to shareholders, officers, and directors.
- Delaware maintains a separate court system for businesses known as the "Court of Chancery." It corporate law that doesn't involve juries. Companies don't have to worry about juries deciding corporate cases. Instead, a judge who is familiar with corporate law overseas the case.
- Incorporation in Delaware is very cheap. The costs to incorporate in Delaware are some of the cheapest in the country. Currently, only eight states have cheaper incorporation fees than Delaware and even that is a rather recent development. In attempts to attract more business filings, many states have made their filing fees more competitive with Delaware. Even still, Delaware remains one of the cheapest states in the country to incorporate a business in.
- Non-Delaware Businesses don't pay Delaware Corporate Taxes. If your business doesn't conduct business in Delaware, you're not obligated to pay Delaware corporate taxes. However, it will be required to pay a franchise tax each year.
- One person can hold all officer positions and serve as Sole Director. This is actually a big benefit because many states require that you name separate people as officers and directors. If your business is relatively small and you're the only person who runs it, this is a big advantage.
- A handful of Delaware registered agents, including Delaware Intercorp, have direct connections to the Division of Corporation’s electronic database, and can file your corporation formation documents electronically.
- The Delaware Division of Corporations generates a considerable amount of revenue for the State, so they have invested in state-of-the-art imaging equipment, and process new filings very quickly.
- Taxation requirements are often favorable to companies with complex capitalization structures and or a large number of authorized shares of stock.
