«Offshore incorporations, offshore companies, bank accounts.»

United States of America - Official currency- US dollar (USD), political system - democratic republic

USA

Corporative legislation Laws on LLC have been adopted in virtually all states: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming These laws are identical, with slight difference in the matters of incorporation and taxation of companies Form of tax-exempted company Limited Liability Company (LLC) (hereinafter - company) Authorized business activities All and any activities not prohibited by the law Providing of banking, insurance and re-insurance, trust services is subject to special license Qualification of LLC for tax purposes A LLC may be qualified either as corporation, partnership or sole proprietorship for tax purposes An LLC with sole member shall not be treated as an entity separate from the member, and it shall be tacitly qualified, depending on who is the sole member, as follows: - If the member is a natural entity – sole proprietorship - If the member is a legal entity – a subsidiary of the LLC with two or more members, it is qualified as partnership Taxation If the LLC is qualified for tax purposes as partnership, their income is only subject to taxation on the level of company members in proportion to their contributions. Members have to pay taxes in the USA, if business activities are carried out on the territory of the USA A company that carries out no business activities in the USA is exempted from payment of taxes in this country and entitled to pay taxes at its domicile A company with non-resident members from USA that carries out no business activities on the territory of USA is not required to fill in the SS4 form and obtain the EIN (Employer Identification Number) number Name of company The name must not be identical or confusingly similar to the existing ones The ending of the company name must end differently in different states: - Delaware - Limited Liability Company; L.L.C. or LLC, there can be words Club, Foundation, Fund, Institute, Union, Syndicate, Trust, Society, Limited, in the name of company - Vermont, W. Virginia, Oklahoma - Limited Liability Company or Limited Company, L.L.C., LLC, LC. Limited and Company or abbreviations Ltd. and Co. - Îregon, Mississippi, New York, Florida, S. Dakota - Limited Liability Company or L.L.C. - Kentucky, Georgia - Limited Liability Company, Limited Company or LLC - LC - Arkansas - Limited Liability Company, Limited Company or L.L.C., L.C., LLC, LC. Limited and Company or abbreviations Ltd. and Co. - Wisconsin - Limited Liability Company, Limited Liability Co. and L.L.C., LLC Necessary documentation for registration Application of registration agent Who executes the foundation documents? Registration agent Statute capital of the company There are no requirements according the minimum size of statute capital Shares Company does not issue shares Shareholders -minimum number - citizenship - nominee shareholders No requirements according the number of participants, but its recommended to have at least two No requirements No requirements Does the law provide for non-disclosure of information about the actual owner of company? If services of nominee shareholders are used, the actual owner of company stays anonymous Directors - minimum number - nationality and citizenship - status No requirements No requirements Status is nominated by the shareholders of Company On the territory of a state there has to be: - registration office - registration agent - local secretary Required Required No requirements Holding of the meeting - shareholders - directors Meetings can be hold in any part of the world. Minutes may be kept at any place. Annual shareholder meetings are required No requirements Mandatory - keeping of accounting records - annual account - presentation of auditor's conclusion Not required. Have to pay the government fee -Franchise Tax (in some states also to submit Annual Report or a List of Managers in secretariat of State) Yes, if the number of taxpayer of USA has been received. In other cases not required No requirements Information at disposal to third party Name of company, date of incorporation, tax status, registration agent and office Documents kept at the registered office No requirements Agreements on exemption from double taxation All agreements signed in USA, but it depends on its regulations, how its going to be used Currency control No Term of incorporation 3 weeks Costs of registration of company Look for: Costs of registration and service Financial year ending on Look for: Costs of registration and service Possibility to purchase a company Yes, look for: Ready made companies