See this alert on Delaware Shelf Companies.
DELAWARE MOVES AGAINST SHELF COMPANIES
Delaware Corporation or Wyoming Corporation? Montana Corporation instead? New Mexico LLC?
A shelf company is simply a corporation or LLC that was filed in advance for the convenience and expediency of the client. That client may not acquire the pre-filed company until years after the filing of the articles of incorporation. The client simply buys a pre-filed company with the added advantage of some age. Otherwise, the client is stuck paying the Delaware $500 two-hour filing, or the $250 pre-clearance fee with the Delaware Secretary of State. The advantage of the aged shelf company is the added value of age is better than expediting an urgent $500 fee to the DE Secretary of State.
Delaware is now complaining that aging a shelf company is unethical while they charge $500 for a two-hour filing.
The Delaware Secretary of State is now disallowing Delaware registered agents from filing and selling shelf companies. And this bogus prohibition benefits the Delaware Secretary of State. How? People can no longer acquire an aged shelf company from their registered agent in Delaware. The client must now pay the DE SOS high filing fees instead.
Secretary of State
Rule of Law
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
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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