Florida USA Limited Liability Company (LLC) Formation
Like an LLC in the UK or a GmbH in Austria and Germany, a US Limited Liability Company is a legal entity that is separate and distinct from the individuals who run it. For sole traders and for people in partnerships, the individuals’ personal assets are at risk if there is a claim against the organisation but shareholders in an LLC are liable to lose only the value of the share capital to which they subscribe.
Florida is an attractive jurisdiction in which to incorporate as sales tax applies only to products sold within Florida and, unlike many other US states, there is no Personal Income Tax. Furthermore, the relaxed reporting standards meaning companies registered in Florida are not required to file annual accounts and directors and shareholders both benefit from a high degree of privacy.
Company names must be unique and not deceptively similar to other company names registered in Florida. We are able to check that your proposed company name is appropriate. LLC company names must end with ‘Limited Liability Company’, ‘Limited Company’ or appropriate abbreviation such as ‘LLC’ or ‘LC’. The word ‘Limited’ along may not be used. Certain words such as Bank, Mortgage and Loan require approval from the Department of Financial Regulation to use.
Companies require a registered agent and a registered office where the Secretary of State and other official parties may send legal documents. Companies are not obliged to have their registered office in Florida. If the company’s registered office is in Florida you may act as your own registered agent, however, if it is outside of Florida we can provide you with a resident agent as part of our Corporate Administration Package.
Only one director of any nationality is required. Directors benefit from a great degree of confidentiality as there is no official register of directors available to the public.
Only a single shareholder is required and corporate shareholders are permitted. For LLC and C Corporations shareholders may be of any residency but S Corporations require a resident shareholder. There is no requirement to file shareholder registers with the authorities meaning shareholder details are not publicly available.
There is no minimum share capital requirement for incorporations in Florida.
There is no requirement for a company registered in Florida to file accounts, director registers or shareholder registers.
The incorporation process is very quick and takes only three to four days once we have received all the necessary documentation.
Proof of Identity
As part of our due diligence we require proof of identity in the form of a passport copy for all directors and shareholders of the company.
There is no requirement to travel to Florida in order to incorporate, although if you wish to incorporate an S Corporation a resident director is required .