Delaware moves against shelf companies
Delaware Corporation or Wyoming Corporation? Montana Corporation instead? New Mexico LLC?
Delaware shelf company alert
“Listed Agents may not market ‘shell’, ‘shelf’ or ‘aged-shelf’ companies (or substantially similar products and services) through the registered agents’ website or the website of an affiliate or affiliated party.”
Delaware shelf company alert
Secretary of State
The Delaware Secretary of State now finds objection with this practice of filing and selling shelf companies. Attorneys and accountants pre-filed all sorts of entities for hundreds of years in a myriad of countries. And now, the DE SOS finds objection. Is it possible that Delaware is slowly turning its back on capitalism? Perhaps this is so.
Rule of Law
And the rule of law? There is no law, and I repeat–NO LAW. As a layman, I’ve been able to find no Delaware law that defines a shelf company let alone prohibit the registered agents from selling them. Calls to the DE SOS resulted in no law identified.
Delaware Self-Defecates
At the end of the day, Delaware self-defecates on over 100 years of precedent, and their pro-business reputation. Now, the Delaware Secretary of State will prohibit the registered agents from forming shelf companies based on policy, and in direct absence of the law. And here we are–a technocracy that rules by policy devoid of law. And those who make the policy are appointed.
DE SOS
Why is this important to you? After all, you don’t file or sell shelf companies. Of course it’s critically important. DE SOS is now beyond their proscribed role as an office that approves documents. The DE Secretary of State is supposed to act in a ministerial capacity in accepting payment and approving documents. This is huge step in mission creep. DE registered agents are quietly complaining that DE SOS is now moving into a policy generation agency without the law. This is alarming. Since the corporations and LLC’s in DE are filed according to the laws spelled out in DE, this is a critical misstep in the wrong direction by imposing rules without the effect of law.
The end result is that DE is now moving in the direction running their Secretary of State like a state or province within a third world country.
Likewise Nevada Goes into the Toilet
Pro-Business Legacy
Likewise, Nevada has crapped all over their pro-business legacy with a $500 business license, mandatory disclosure of the owners, and the annual list of officers for $125; the only one standing is Wyoming.
Adult Businesses
What makes Nevada worse is the adult businesses that makes it famous; prostitution, gambling, money laundering, cash for gold, drugs, pawn shops, massage parlors, etc. That whole idea, “What happens in Nevada stays in Nevada” attracts this element, and the financial services that corrupt.
For the above and additional reasons, consider incorporating in Wyoming, Montana or New Mexico.
Wyoming: The Best Choice for an Online Business
The State of Wyoming doesn’t require a business license. In Wyoming, there’s no state income tax or tax on shares. There isn’t a requirement to have a permit to carry a gun. Compare that to Delaware. Wyoming is the best place to run an online business, or for a company involved in trading stock, or holding real estate, or other assets. The asset protection is the best in Wyoming.
Wyoming remains the best place to incorporate, with low fees, the best place to do business, and protects the interests of those who do business within and from Wyoming.
New Mexico LLC’s don’t require an annual report or annual fee. We offer New Mexico two year old shelf LLC’s for $1100.
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