Delaware Company Formation the advantages

Dec. 22, 2009 - PRLog -- There are several advantages that you will get if you choose to start a business in Delaware. These advantages are unique since you will not find them in any other state in the larger US region.

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If you are looking for a legitimate way to book international profit, and then you should think of Delaware company formation. It is one way where you will profit without having to pay the local tax that is payable to the state department. This is true provided that the revenue that you source is not originating from the US and that the directors and shareholders cannot be viewed by the public.

Another advantage that you will get from Delaware company formation is that a minimum of one director and one shareholder is required to form the business. And the good thing is that the shareholders and directors need not be Delaware residents or the US as they can be of any nationality and may even mean the same person. In addition, the details of directors and shareholders are not made available for the public to view.

Moreover, Delaware company formation in general is very cheap since the fee that is charge is relatively low and there is no minimum capital that is required. This is the reason why the US is the world’s 4th easiest place to start and operate a business. This survey was conducted by the World Bank doing business in 2010 and it is based on such issues as business startup procedures, cost, time, capital requirement, and others factors. Furthermore, there is no requirement for any company in Delaware to submit the annual audited financial report or tax return. Any Delaware incorporated firm is not also required to file any annual statement and this is why it is really easy to start and run a business in Delaware.

The international community also reputes the Delaware legal system as companies are tried in the Court of Chancery. The reason is that the judges who preside on the Court of Chancery are well trained in corporate laws and thus their ruling will be more legitimate and efficient. In general, the United State is ranked 19 in the world in the corruption index of the 2009 Corruption Perceptions carried out by the Transparency International. This is a global corporation that is tasked with measuring corruption among politicians and public officials.

One will also have an advantage of opening an account in some of the world’s leading banks including the HSBC, Citibank and Standard Chartered. Since Delaware company formation has advantages, it will also have disadvantages. One of the disadvantages is that it may be vied as a tax evasion tool in an offshore tax entity. In addition, Delaware can share information with the Internal Revenue Service (IRS).

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