Delaware Limited Liability Company (LLC)

Movement of Funds in a Delaware Limited Liability Company:

United States law requires that anyone transacting more than $10,000 into or out of the United States must report this transaction to the United States Customs Authorities. In addition the United States Internal Revenue Service must be notified of certain cash transactions in excess of US$ 10,000.

Corporate Requirements of Delaware Limited Liability Company:

1. Name:
   The name of the Delaware Limited Liability Company must include the words Limited Liability Company, L.L.C. or LLC. The name must be distinguishable from the name of any other corporation, partnership, business, trust or Limited Liability Company organized under Delaware law or qualified to do business in Delaware unless the written consent of such other entity is obtained.
2. Members:
   There is no minimum of members (owners) required for Delaware Limited Liability Company. These may be formed with as few as one member. Members need not be American citizens nor US residents and may be individuals, trustees, corporations or other entities, foreign or American. To add confidentiality to a structure, the members may be of corporate nature.
   The corporate identity of the Delaware Limited Liability Company is separate from that of the individual members, thus the members’ liability in respect to debts and obligations of the company are limited to their contributions to the company.
3. Managers:
   The managers of a Delaware Limited Liability Company may be individuals or corporations of any nationality or domicile. The names of the managers may be included in the Certificate of Formation and normally indicated in the LLC Operating Agreement. The Managers may also be members of the Delaware Limited Liability Company. The Managers may make appointments as follows: President, Vice President, Secretary, etc. Resolutions may be approved anywhere in the world and are always required even if done over the phone, in order for resolutions to be approved.
4. Capital:
   There is no minimum or maximum requirement regarding the contribution of capital for a Delaware Limited Liability Company. We recommend standard capital contribution of US$ 500/-.
   It is recommended to issue stock certificates as evidence of ownership. Units in a Delaware Limited Liability Company may not be transferred without the consent of all the rest of the members and all new members must sign the Limited Liability Operating Agreement.
5. Registered Office:
   Delaware Limited Liability Company must have a registered office and a registered agent.
   The following words, and their associated activities, cannot be used without approval and/or licensing: Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Cooperative, Empire, Imperial, Insurance, Municipal and Royal.
6. Limited Liability Operating Agreement:
   Every LLC has a LLC Operating Agreement or Members Agreement. The agreement is a private instrument among the members or executed by the Sole Member. A standard Operating Agreement would include: the domicile, object, duration, names and details of managers and members, duties and responsibilities of the managers and members, voting rights and contributions of capital, among other important matters in the business affairs of the LLC.
7. Books of Accounts of a Delaware Limited Liability Company:
   The books may be kept anywhere in the world. It is advisable for Delaware Limited Liability Company to register in minutes of meetings all resolutions made by the Managers and Members.
8. Taxation of a Delaware Limited Liability Company:
   The Annual Delaware Franchise Tax for LLCs is US$300 which is payable prior to June 1st of each year. If payment is made after June 1st, the LLC will incur in a penalty of US$200 plus 1.5% monthly interest.
   The Delaware Limited Liability Company is subject to the US Tax Code based on the nature of its income, distributions, residencies of the members and any Tax Treaty provisions. For further information on taxation requirements and government filing of income tax returns in the U.S. please consult a US tax advisor.

All documents of the corporate entity must be certified by a Lawyer or Certified Public Accountant

Incorporation of Delaware Limited Liability Company begins from USD 1,750/-

Global Business Services DMCC has helped many individuals and corporate entities to set up Delaware Limited Liability Company. Our Company acts as a one stop solution for Delaware Limited Liability Company incorporation services.

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Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal, tax or other professional advice. We do not accept any responsibility, legal or otherwise, for any errors or omissions.