Nevada Company Formation
The Nevada LLC is a unique non-taxable offshore corporate structure, frequently used for conducting international business outside of the United States. The Nevada LLC has become extremely popular in recent years and is preferred to US ‘C’ Corporations, as it is not required to file income tax returns on worldwide income. A Nevada LLC also has better asset protection features compared with ‘C’ Corporations.
The information below displays the requirements for a Nevada company formation. For more information on Nevada company formation and registration, please Contact Us.
To proceed with your Nevada company formation, please complete our Company Application form.
Requirements for a Nevada LLC
Legal form: In October, 1991, Nevada enacted the legislation which enabled the formation of a Nevada Limited Liability Company (LLC). A Nevada LLC is a combination of a corporation and a partnership, and has a legal existence separate from its owners, thus the owners and managers are not personally liable for the company’s debts and obligations. Personal liability is limited for owners and managers to the amount of their investment in the company. There is unmatched contractual flexibility with a Nevada LLC. For example, it can distribute profits in any manner described in the LLC agreement, regardless of ownership share. An LLC is automatically treated as a pass-through entity for tax purposes.
Incorporation: A Nevada LLC may be formed by one or more organizers or members.
Name of the company: The Nevada LLC may not use a name identical or similar to an existing company within the State of Nevada. The use of the following words is also prohibited: Bank, Insurance, or Reinsurance. After Nevada company formation, the Limited Liability Company must have these words after the company name or the abbreviation thereof, i.e. ‘Limited Liability Company’, ‘L.L.C.’, or ‘LLC’.
Members: An LLC does not issue shares and therefore does not have shareholders. The owners of an LLC are referred to as members. A Nevada LLC may have a minimum of one ‘member’ (owner) or more. Each member of a Nevada LLC is liable only to the extent of his or her percentage of ownership in the LLC. Members may be an individuals or corporate bodies. There is no limit on the number of members allowed in a Nevada LLC.
Directors of the company: The management of a Nevada LLC is based on an agreement between its owners, who are known as members. A Nevada LLC allows a customized management structure, which dictates the economic relationship among owners. While Nevada law permits a Nevada LLC to be managed by its members, it does not require members to be managers. The Nevada LLC statute allows parties to define their business relationship in the written agreement however they wish. This is called “freedom of contract”. Nevada Law provides rules only for those matters on which the parties have failed to agree. The structure of the LLC does not provide for a Board of Directors.
Registered office and local agent/secretary: Nevada law requires for Nevada LLCs to have a registered agent when Nevada LLC is first formed and throughout the life of a Nevada company. The registered agent’s name and address are included on the formation documents and is available on public record. The registered agent is responsible for receiving important legal and tax documents including: notice of litigation (service of process), franchise tax forms and annual report forms.
Taxation: Nevada Limited Liability Company (LLC) does not pay US state or federal income tax if its owners are not US citizens or green card holders, its offices are located outside of the US, and the LLC does no business in the US. The IRS tax treatment of a Nevada LLC is on the flow-through tax basis. A Nevada LLC is not taxed on its profits. The income of the LLC is distributed to its members who are taxed on a personal income basis. Non-resident aliens are not taxable by the US on income derived out of the US. If an LLC derives its income outside of the US, the non-resident aliens do not file tax returns.
Audit and financial returns: Whilst there is no requirement to file audited accounts or annual returns with the authorities, a company is required to keep financial records, which should reflect the financial position of a company. An Annual Report is required only in cases, where there is distribution of profits to US residents.
Meetings: There are no statutory requirements concerning meetings of members or record keeping. It is recommended that with two or more members, Members’ Agreement be entered into. If meetings are held by members, this may be done anywhere in the world and in any way convenient to the members.
Time needed for formation: Usually it is 1 working day, but we need up to 10 working days for legalization of the documents and delivery by courier.
In order to proceed with the formation of the Nevada LLC please complete our Company Application Form.
Our fees for the formation of a Nevada LLC
Company formation cost includes:
- Name check and approval
- Filing the incorporation documents with the registrar of companies
- One set of standard corporate documents
- Payment of government fees
- Provision of registered agent, office and address for one year
- Provision of company secretary for one year
- Rubber stamp
Optional Nevada company services (to be chosen by the client)
- Provision of nominee shareholder (member)
- Provision of nominee director
- General Power of Attorney issued by nominee director
- Notarial certification
- Apostille
- Opening a corporate bank account
- Bank card application
- Certificate of formation with Apostille
- Certificate of Incumbency issued by Secretary
- Certificate of Good Standing (long term) with Apostille
- Certificate of Good Standing (short term) with Apostille
- Provision of postal address
- Mail collection, mail forwarding
- Metal seal
- Extra rubber stamp
Recurring maintenance fees from 2nd year and after
- Provision of registered office and registered address
- Provision of registered agent and company secretary
- Payment of annual government fee
Speak to one of our consultants for a free quotation
For DeltaQuest Corporate Services please contact:
Telephone: +357-25-878480
Fax: +357-25-761160
E-mail: corporate@deltaquestgroup.com
Mailing address: P.O.Box 57216, Limassol 3313, Cyprus
Business address: 14, Louki Akrita Str., Ayias Zonis, Limassol 3030, Cyprus
You can also fill our Contact Form
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