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hello everyone and welcome to our webinar today my name is Michael Cooper I'm with Harvard Business Services and we're going to get started here in just a minute one thing that we like to do and we start our webinars and especially for this one today that is going to feature attendees from around the globe we love to know exactly where you're from so if you don't mind just take a second to open up the chat box and type in the country or the city that you're located in just so we can get an idea of who's online with us today today's webinar is Delaware companies for non-residents and we are going to present a lot of information for you today it's going to be a lot to pack into one hour so we're going to do the best we can and we're going to try to answer all of your questions as we go we are recording today's session so if you do miss anything or if you have to sign off early you will have a chance to revisit it later on and we will provide you a PDF copy of the slides as well we encourage you to ask your questions as they come up as you think of them Mike who is going to be presenting to you in just a moment will do his best to answer your questions as they come in and anything that we can't get you right away we will address at the end of the session in the Q&A in total we expect to go about 60 minutes today and just before I turn things over to Mike I'm gonna give you a quick background on who we are so Harvard Business Services was founded in 1981 in Wilmington Delaware by Rick Bell who is pictured on the left of the photo right there this is a family owned and operated company Rick's on Mike was named the president of this company just this January so he is a our new president and our president for the foreseeable future we're now located in Lewes Delaware which is right down on the coast of the Atlantic Ocean we've formed over 150,000 companies and we have over 75,000 current clients around the world we are registered agents for Delaware and Meishan specialists we are very very customer focused we offer free lifetime support and low prices and we have a great staff here who spends their entire day answering questions from people just like you around the world who are wondering how to start a Delaware company and various questions around that I do want to point out that we are not attorneys and we're not accountants so please don't take anything in today's presentation as legal advice or as accounting advice we do encourage you to speak to professionals in those fields if you have specific questions about any of this material and lastly we are not affiliated with Harvard University even though we share the Harvard name so there's just no connection there all right look that being said I am going to turn this over to Mike and he's going to get started on the presentation hello everybody and thank you for joining us we have many people from around the world with us today so thank you for joining us we have people from Texas and New Zealand South Africa Netherlands Russia India Italy in tennis that's a great group of people and we look forward to presenting this information to you and again if you have any questions feel free to ask them we also have something from Poland so that's great so a lot of people want to know about why companies choose Delaware so the biggest reason why clients choose Delaware is not because of tax advantages it is because the Delaware Court of Chancery is the oldest court in the nation and has over the years developed a body of laws and fine-tuned them to produce a Delaware with the strongest corporate law structure if there is a lawsuit presented against your company you're incorporated in Delaware you go before judges and the judges make the decision instead of going for a jury so it expedite the process as well but that's the number one reason why clients from not only around the US but also from around the world choose to incorporate their company here in Delaware and because of these favorable wall structure over 60% of your fortune 500 companies are incorporated here in Delaware when you file a company here in Delaware none of the younger informations available for public record so that's another nice advantage that Delaware has so all the information as far as voters and shareholders and directors and officers in the companies all held within either the operating agreement for the LLC or the corporation by walls for a corporation and neither required to be disclosed to the state of Delaware nor to Harvard Business Services Losar costs among among the lowest in the world so it's really inexpensive to form a company here in Delaware they do make it more expensive when you have to make amendments or changes or closing your company things of that nature but to start a company here in Delaware it's very inexpensive it's also very simple to start a company here in Delaware a lot of people ask us on a daily basis do I need to provide any documentation or passport information or their copy of my driver's license the answer to that question is no any one anywhere in the world can form a Delaware company but it does exclude certain countries that are restricted by the US Treasury Department ooh that and a little bit in here and then as far as tax advantages there remain the tax advantages but that's more of a question for an account it can help answer those questions for you but I can tell you that if you are not physically operating here in the state of Delaware there is no state income tax share in the state of Delaware when you're conducting out of the state business and it's easier to raise capital investors love I love investing in Delaware companies um and you know because it's more favorable to them and it's a lot you know very easy to decide to invest in your company if you are a Delaware company okay so we talked a little bit about this in the previous slide but the question here is who can form a Delaware company anyone in the world can form a Delaware company except for those located in specific restricted countries such as North Korea Iran Syria Cuba and Cuba those are currently the countries that are on the US Department of Treasury's restricted list you do not have to be a US citizen and you do not have to live in the US and you don't have to have an address in the United States a former company here in Delaware I you also do not have to visit the state of Delaware I would say that almost 95 to 97% of the time that we form a company were not interacting face to face with that person we're mostly doing it over the web or online so it's it's it's very easy for you to form a company here without even having to visit the state of Delaware so next part that we're going to go into is well if you don't live in the state of Delaware and you don't you live somewhere else what do you what do you need in order to form a company in the state of Delaware and you don't have a u.s. address well all that is required to form a company in here in Delaware is to appoint and maintain a Dell or registered agent that has a Delaware address so Harvard Business Services is located here in the state of Delaware this is where his four office location is where all of our employees are located we don't have any other offices around the world and we charge $50 a year to act as your annual registered agent here in the state of Delaware you can see there are other registered agents that do charge Jerry various keys for them to act as you register dating so you can see we have a very minimal fee and a very low the $50 that he has remained at $50 since 1981 since the company was open so it's we have a very competitive market with a lot of different people that do it but we have a very competitive advantage with our prices so I usually there are a couple questions that came in your Amazon seller boy I pay tax to other states myself over all over the US Alexander that's a great question I you typically are going to pay the tax in the state in which you are physically located in you generally are not going to pay taxes for each state that you that you said that you do you send to or that you send packages to but for more information for that you will need to speak to a tax professional and what does physically operating and dull earnings it means you have a physical office location I here in the state of Delaware so you physically are working a building and hat within a location inside the state of Delaware and I Jose we don't have this in Spanish I'm sorry I don't speak Spanish fluently so what we do have representatives that speak in Spanish and certainly call our office and they'll be happy to answer any questions you have so a lot of people ask us the question well if I'm forming my company in Delaware doesn't that mean that Harvard Business Services is my physical office location and the answer to that question is no Harvard Business Services is not your physical office location we are simply your Delaware registered agent as registered agent we form our excuse me we forward along any any lawsuits that may be served again the company and we notify you the annual franchise tax here in Delaware but we are not providing a physical office location for our clients if you desire desire a u.s. address for mailing purposes only as a form of contact we do offer several mail forwarding services it's where all your offices are excuse me all your mail is sent to our office we then sort and filter out any junk mail and then we scan your mail to you we do have a link here at the bottom of the page that will take you to all of our services that you offer for that in order to take advantage of our mail forwarding services I do have to be a client of ours alright and I'll try to get to some other questions here what about Bank should be open to Delaware okay I am going to get to your question about opening a bank account a little bit later in this presentation so I will certainly answer your question in a little bit so another question that we get often every day is can a non-us resident get a tax ID also known as an EIN employer identification number and the answer to that question is yes a non-us resident can get a federal tax ID number you're not required to have a u.s. address or u.s. social security number to obtain the federal tax ID number E AI NS are issued by the Internal Revenue Service for both foreign and domestic citizens so we are at the mercy of the IRS when we're obtaining this number on your behalf it can be ordered at the same time as forming your company an additional service that we offer and as I said before you're not required a social security number or an individual taxpayer identification number in order to obtain Mei Yin and yeah an orders for non that have no US Social Security no us address the process takes between seven and twenty seven to twenty business days and the reason for that is because that cannot be completed online we have to fax that into the IRS so the IRS does take a bit longer to process that application Harvard Business Services charges $95 to obtain the federal tax ID number if you do not have a u.s. address and US social security number all right and the next question is that we normally see a lot of is can a non-us resident be a shareholder officer or a director of direct dollar company the question the answer that question is yes there is no citizenship requirements for being an officer director shareholder or a member or manager of a Delaware corporation or LLC the only time that a non-us resident cannot be a shareholder or an officer or director is if you have a corporation that is filed up that has filed for a four S corporation tax status with the u.s. so it's merely just a tax status that you are filing with the IRS so that would be the old and of reason wouldn't be able to be a shareholders if you the company has filed for S sub chapter s tax status okay so now we're going to go into your question Adrienne about the bank account so the bank account can be open anywhere in the world with any bank of your choice when you open a Delaware company it does not have to be open here in Delaware and it does not have to be you know it does not have to be open in where you're physically operating to be open anywhere in the world in order to open a u.s. bank account you will need to appear in person with with the bank you will need a copy of the certificate of formation or incorporation which we prepare and file on your back when you request us to take care of the filing of your company they will also require a federal tax ID number however do keep in mind that every bank and bankers differ as far as what they require to go to the bank's account so we do suggest that you contact the bank let them know what you are planning on doing and they will tell you exactly what you need to open that bank account sometimes they may require a copy of your bylaws they may require a copy of your LLC operation agreement they may require a Certificate of Good Standing it just varies bank to bank but they will tell you exactly what you need and you just need to let us know and we will get you exactly what you need to go for that bank account a lot of people ask us all the time does Harvard Business Services is Harvard Business Services able to assist with opening the bank account and the question answer to answer that question we are not able to assist in opening a bank account for you neither here in the US or anywhere in the world and then because we have strict regulations now that are in place in the United States and they're going to require you to be in post well a lot of people so the next question would be well I'm not located in the US I can't travel to the US so how do I have how do I open a US bank account if I need to if I need to do that so then the way to do that is if you are unable to travel to the US yourself you may consider finding a US US business partner a friend or family to them part of the business you may live in the United States because anyone anywhere in the world can be an owner and a officer shareholder director in the company so if you can't get to the US you can also use the family or friends you might live here in the US to assist you with that process but I would be very cautious if you do find a company that says they can open it u.s. bank account with active period in person because of the regulations are here in the United States you are required to appear in person so just be very cautious of that but if you can't get to the US another way to look at it it's either contacting a family member or a friend that you know that might live in the United States and they can possibly help you out back so going on to our next topic this document is usually used for people that are outside the United States doing business outside the United States and not physically located doing business in the United States they're doing business in their home countries it's called an appeal document it comes with our international formation package which is our standard package the Appa Co Convention was drafted by Hague conference on private international law signed into effect in 1961 it dictates how documents may be officially certified among its members member nations if you live in one of the hundred and sixteen countries governed by the off-field convention you will be require a steel for service for your formation documents this list homeless can be found right on our website with more detailed information not every country requires an autopsy document but like I said there's 116 countries that would require so you'll want to read this page to find out if you're the country you're located in would require this document but we do provide it in our international standard package alright and so next question we usually get is what is required to keep my company client company compliant in the state of Delaware's you're not physically operating here so as the owner of a Delaware company it is important that you understand the state of Delaware a single corporate compliance requirements if you are not physically operating business in the state of Delaware there are two major aspects of compliance you will be required to maintain when having a Delaware company you'll have to pay an annual Delaware franchise tax and you ll have to pay an annual Delaware registered agency the Delaware Franchise Tax is no bearing on company activity or income of the company it's simply for the writer privilege to moon a Delaware company and since you don't have a physical address here in the state of Delaware the state of Delaware requires that you have a registered agent to act on your behalf and be the liaison between you in the state and I'll go into more information on the next slides with reverse this so for Delaware franchise tax and like that it's a annual fee that you pay here in the state of Delaware every company is required to pay this being a Delaware company it does not have any very enough company activity or income in the company it's just a simple flat rate that you patient stays Delaware to maintain the life of your company so for an LLC I it is due every year on June 1 it's 300 dollars a year and as I said it's a simple flat rate that you pay to the state of Delaware for the $300 corporations are a little more complex it's based upon the number of authorized shares that are in the company so how many shares of stock you have in the company so if you have 0 to 5 thousand shares of stock in your company your franchise taxes is up 175 plus you are required to I provide the state of Delaware with an annual report which is $50 which brings your total to 225 dollars if you have more than five thousand and one shares of stock in your company there's two ways that this tax is calculated it is calculated either by the Opera shared method or the authorized capital method shares capital method we are last webinar that we did was specifically on Delaware corporation Franchise Tax and that is available for you to view and give you more information about being a maximum stock company so I suggest you go and and look up that webinar and take a look at it it's filled with a lot of great information you can also get more information about Delaware Franchise Tax on our franchise tax calculator so I'll take a little time to answer some more questions that have come in from people one question we had was if your business is online and we had a Delaware corporation when we decide to start working with a payment service provider and they ask for a physical address in u.s. does it make sense to provide the registered agents address or better to give directors address let's say he is New York but it is not a fiscal office okay well this is a bit of a tricky question but you're generally going to give them the physical office office address where you are physically located because we are not Harvard Business Services not your physical office location if you have if you can provide more detailed information we can certainly help answer that question in more detail you can also send an email to info at Delaware ENCOM and we can help answer your question more thoroughly it via email as um we had a question from is it recommended to use Delaware LLC company for real estate business owning and renting the property yes we do see a lot of people who use a Delaware LLC for real estate typically the LLC is used for holding assets such as real estate it's typically used for small businesses or partnerships or joint ventures so we often do see a lot of clients use the LLC for real estate and owning and renting of property if I register a company in Delaware and open a bank can in the state of California do I need any additional sets for this great question yes if you form a company here in the state of Delaware and you are physically operating in another state's jurisdiction often the next step in the process is to file for certificate of authority or for qualification in the state in which you're physically doing business in this will help you to comply with any local and state complaint compliance matters and each state is generally going to want a piece of the pie so you're governed by the Delaware law but you're operating in another chase jurisdiction so by filing for certificate of authority gives you the up the authority to do business as a Delaware company in the state of California and we can certainly provide you more information on that there's a lot of information about oil qualification on our website and our customer service representatives will be happy to help answer any questions you have with regards to adding more detail okay so we have and I think this is an addition to more precise and properties worldwide not in the US and we're in it and again no matter where you're located whether you own our owning assets or renting properties clients do often look at Delaware LLC to put their assets in so no matter where you're located in the world or where you're renting or owning property you can certainly look into having an LLC be the owner of that property and we often work with many clients to help assist them with that okay so with regards to the franchise tax about the $300 this fee is not paid to the IRS and it's not paid to Harvard Business Services this $300 franchise tax is paid to the state of Delaware they are the ones that you because you are incorporated in the state of Delaware you're paying them an annual fee to maintain the life of your company here so that $300 goes to the state of Delaware okay so I'll try all of your questions I know there's a lot of questions with regards to for non US residents forward a company here Delaware I do want to make sure that I get through all the slides but I here's a question about being cautious about opening a bank account and you having more questions you are approached by a current u.s. system that needs help with an incorporation for a lot of us resident a bank account on behalf of a non-us resident yes this little service share over the US says should be cautious for the non you or the US non-resident um this is a great question this question is a little bit out of the realm of my expertise I can't you know go into full detail far as you know it you know who you work with and who you deal with so I can't really get into the nuts and bolts of that question and I do apologize but it's a little bit out of the realm of my expertise so kind of virtual office qualify as operating business address know the virtual office is just a form of contact address it's not where you're physically operating your business so I'm going to go into some more slide into the questions as they come and we'll get to all the questions at the end of the presentation we have about twelve more slides to go so keep asking your questions you guys are asking great questions and I'll be happy to answer all of them another question that we get is with regards to the Delaware Franchise Tax is if I for my company here in 2019 wedding the annual franchise tax do your annual franchise tax for the state of Delaware would not be due until 2020 so if you form a company here in the in 2019 you don't have to pay that franchise tax to the state of Delaware until 2020 alright so the next question is that we get a lot is what is a registered agent and why do you need one I answered this question a little bit earlier but I'm going to go into more detail on this slide a registered agent is the liaison between your company in the state in which it is incorporated the state of Delaware requires you to have a registered agent at all times because you do not have a physical address here in the state of Delaware so they require you to have a registered agent to act on your behalf and to receive any lawsuits then forward the annual franchise tax notices to you in a timely manner and as I said before we charge fifty dollars a year to act as your registered agent the first year register agent services included all more formation packages and then every year thereafter it's $50 in you and again it has not raised since 1981 so that's the exactly what registered agent is and why you need one for companies here in Delaware other than the VINs of Delaware annual beeswax another question that we get will you have to pay income taxes in the US Delaware corporations will typically be required to bake tax on all us source income as well as any forum proceeds Delaware LLC's typically do not pay federal income tax if they have no us source income that typically goes for Delaware corporations - but you're going to want to speak to a tax professional to get more detailed information on that so typically if you are not physically operating in Delaware the email franchise taxes the other tax you will pay to the state of Delaware for official regulations you will you would want to consult the IRS Publication US tax guide for aliens business taxation is very complicated and there are a number of variants as we said at the beginning we are not tax professionals interview consult a tax professional before performing a company in the United States if you have questions about taxes that are outside of the franchise texture in Delaware I'm not going to go into full detail about this slide but this is things that could be considered income and things how source of income is determined there's a lot of different variables here as far as what is what is referred to as us source income and what it's not considered us source income so you will want to speak to out an accountant or tax professional who can answer those questions for you in more detail and again we are recording this so you guys will have access to the slide shortly after the presentation and I can also send you a link and you can find the video on our YouTube channel all right so we've talked a little bit about you know uh you know being a non-us resident and opening a bank account and getting a federal tax ID number and what it is you acted you to maintain a Delaware company and so now I want to kind of talk about you know forming the company what you need to do to to choosing a company name so when you choose a name for your company you want you want to do something that's easy to remember and represents what your business does no matter what type of company file it must comply with the Delaware law and include a proper nd a proper ending for LLC is LLC L period L period superior or limited liability company now a lot of people ask well do I have to have this LLC or in my company logo and things of that nature it's not required to go in your logo but often clients do include it because it does it does show more credibility and that you are and incorporated this for corporations you have a many options including the int period cor period Foundation Association and many more that you can find out are on our website obviously the most popular for corporation is int period but there are other options that you can you can use there are certain terms that are prohibited in a company name such as bank or university if you wanted to use bank or university and remain you would have to receive prior approval from the state of Delaware to in order to use that in your company me so just keep in mind when you're thinking of your company name if you want a or University in there you do have to get proper approval in order to use those words in your company if you have a company name in mind and you want us to check the availability for you for you here in Delaware we can do that quick very quick and easy you can do that via our website or you can live chat with us or you can email it to it or you can give us a call and we can check for you in a matter of seconds to make sure that it is available here in the state of Delaware once we know that the company name is available we're all set ready to go because that's the hardest question that we're going to ask you when forming a company so a little bit earlier someone was asking about um you know the LLC and being the right type of entity for rental properties and holding assets and things of that nature so this like goes into a little bit more about what an LLC is used for what corporation issues for and the many different types of corporations that are available and then many different types of entities that are available to form and file I will say that the LLC is by far the most popular type of entity because of its unmatched flexibility and convenience and it has a corporation there's a lot less corporate formalities and there's no stock involved in an LLC so those corporate formalities such as having you elect shareholders and directors and officers and issuing shares of stock and holding annual meetings and minutes can all be eliminated within an LLC so the LLC is typically used for small businesses partnerships joint ventures or holding assets such as boats airplanes and houses or rental properties that you have in 2017 73% of all the companies that were filed with the state of Delaware work LLC so the LLC is a very very popular type of entity and reducing a lot of people form LLC's but then there's also the corporation so the corporation is typically used for companies that are looking to go public you're looking to bring investors you're looking to transact business globally so that with the corporation at three tiers of power you have your shareholders who own the company the directors who run the company any officers who handle the day-to-day matters and a lot of times we do get a question well I'm the only person in my company can I hold all properly positions and be the sole owner of the company and the answer that question is yes there is only one person that's required to form a company here in Delaware and you can be all you need to share order the director and the officer in the company run the company on your own so then with a c-corporation we get a lot of people who ask us about S corporation S corporation is merely attack status for AC corporation there's some benefits to do doing that obviously if you're not into a citizen you can't file for S corporation tax status but if you are a US citizen you can file for S corporation tax status and it's merely a way to - it limits you to the number of shareholders and allows you to write off early losses so there are some advantages to being an S corporation but you're definitely going to want to speak with your accountant on what tax status that suits you your company another type of corporation here in Delaware that we see a lot of is a non stop corporation a non-stock corporation is typically used for foundations or promoters patience for people who are raising a nonprofit organization that looking to raise money for a certain you know that's looking for donations and things of that nature so you file as a non-stock corporation you provide your mission statements you we then you then have to file the proper forms with the IRS to become 501 C status there's a number of different 501 C statuses on the most Papas most the one that we see the most is 501 C 3 and we make sure that that mission statement and proper language is in your particular corporation so that you can go to your accountant or go to the IRS and properly fill out that next form to become nonprofit status we do not help assist with a nonprofit status that we can inform the company for youth here in the state of Delaware a newer type of entity that a lot of people are finding out more about is called a public benefit corporation it's a new type of entity that is typically used for a company looking to benefit a good cause and there's a lot more information on our website about this the LLC is also coming out with a public benefit company and it's available now it was available as of August 2018 so if you wanted to file an LLC as a public benefit you can certainly do that there are also other company options and these entities are not as well known or they're used by more by attorneys is the series LLC and the limited partnership so all the information with regards to choosing the right business and the in finding out more information about LLC's and corporations can all be found right on our website and we do a great job of rating a lot of laws these specific topics I'm in helping you to educate you to form the company that best suits your company needs so if you have any additional questions like I said you can email us you can live-chat us you can call us and we'll be happy to help answer those additional questions for you so if you are a corporation and you're looking to raise capital for a business type most serious investors will only invest in a Delaware General Corporation and they typically insist that you be a Delaware corporation a great example of this is Facebook I'm sure all of you out there have a Facebook page so Facebook was originally in Massachusetts corporation and when Mark Zuckerberg decided to go public with the company and and all that the term entanglement said well you're going to need to file this as a Delaware compass and if you want investors to come in so they became a Delaware company and that's because the laws are more favorable in the state of Delaware for getting investors to invest in your company and so that's why over 66% of your fortune 500 companies are incorporated here in the state of Delaware so the next slide goes into us talking about how to form a Delaware company because a lot of you out there want to know okay how do I for a Delaware company sounds really interesting about being able to form a company in Delaware take advantage of the strong corporate law structures and operate your business all over the world and anywhere in the world that you would like so all that we need in order to file your company here in the Delta in the state of Delaware is this information right here so the first question we're going to ask you is what you want to call a company and the sky's the limit as far as what you want call your company as long as the name of elbow in the state of Delaware worlds that where we go and then we're just going to take some basic contact information after that the we are required to have a person with whom we can speak with at all times with regards to the company and that is just in case there's a lawsuit presented against a company we need to get in contact with you about your annual franchise tax and things of that nature so the street address that the information that you're providing to us is for our records and our reference only and it anywhere in the world because it's just our way of being able to get in contact with you and where we should send your annual notices to so that's the only reason we're asking for a street address is where so we can send your annual franchise tax and hingel registration services we then require the initial members or directors of the company of who we are releasing the company to until successors are elected internally as I said earlier the information we don't need to know who who's who in the company of who owns what in the company that's typically kept within your LLC operating agreement or your bylaws the company but we do need to know at least one person's name of who we are releasing the company to until you actually do elect successor internally within either the LLC operating agreement or the bylaws of the company if you are filing a corporation we do also need to know the shares of stock the authorized shares of stock and the par value generally when first starting out plants will often start with fifteen hundred shares of stock at a penny part ii' or zero par value the par value simply means that you can't sell the shares of stock for less than the part you can sell the shares of stock for what I'm going to mark and they there you just can't sell it left for the left on the par value apartheid is not what the company is work for how much the shares stock the work it's just simply a ballpark figure for you to sell the shares of stock and you can't sell it for less than that shares then less than that part right after that we just take your billing information from your form of payment method and then we're all set ready to go so the entire process whether we do it over the phone or whether we do it via in there or whether we do it you do it over our website it takes about 10 to 15 minutes to complete the process once we have payment once we know that the name is available we take care of it from there nice thing about our companies were directly electronically linked with the division of corporations so we form your company the same day that you initiate the service and then you will receive your approved documents into three business days there is also an expedited service to receive it the same day but you do need to put those if you need expedited service you need a faster you do need to put it in by a certain time for us to get it to you the same day but we can we can take care of it for you no matter whether it's expedited service for just our typical turnaround time so we have over eighty thousand clients that we serve as the wrench from agent and we've helped over a hundred and fifty thousand people from all over the world form a Delaware company so we have everything down to a science and we take care of everything so it's all hands off for you so once you have that paper with the legal paperwork you guys can go out there and do what you do best so very simple and easy process to form the company so the next question that we get all the time is well what's the price to form a Delaware company so on these prices here are simply for people that are located outside of the US and Canada so the US and Canada would typically our domestic pricing is a little bit different and the packages don't include epoxy or things of that nature so if you are located outside of the US and Canada these are the packages that you would choose from we call them the international formation packages because we're sending things over the oceans and things of that nature so the most bare-bones package that we offer is our green package what this means is everything is sent by email there's no hard time and well a lot of you are asked well what about you know I need a physical copy well since we work through an imaging system with the state of Delaware the state of Delaware does all their documents in black and white so the email copy is just as good as the hard copy so you can print out as many copies of that certificate of formation and it is the the certainly debate basically the birth certificate for the company there isn't another document if you need us to provide it called a certified copy we can certainly get that for you but the certificate of formation that we provide is the actual certificate for the company and along with the green package you so you get we pay the dollars to file the we include your first registered agency we email all the documents to you you can then sign up for our client portal where you can manage your company's very easily and make annual payments and get notices with reverse SOP and things of that nature and then so that's the green package the basic package is one step up from that and that does include us mailing physical documents to you and then our standard package is our most popular package and that includes a deluxe three-ring binder that has all the corporate documents in it that you need to maintain the length of your company so that's our international packages you can find all this information on our website alright so I'm going to turn it back over to Mike now to tell you a little bit more about life and choose Harvard Business Services and then we're going to answer your questions we are learning a quick on time so we're gonna try and run through these last slides quickly and we'll try to get to all of your questions as best as I can yeah thanks and like I said there's a ton of questions in here this is really really good stuff so we're going to do our best on these and I just do want to point out that um we would very much value your business if you are interested in forming a Delaware company we've been doing this for since 1981 we offer free lifetime customer support and this might pointed out we have same-day filing service but one of the things I really want to call your attention to is the graphics that you see here from Better Business Bureau and from Trustpilot these are two sites where our clients are leaving us reviews pretty frequently and you know it's not just that we're getting great reviews but if you pull up some of the other companies in this industry that you might be familiar with their their reviews typically are not quite as good there's some a little more confusion and we just really do our best to make sure we're answering all of your questions and making sure you understand what you're getting you know every step of the way and these are the various ways that you can contact us if you need to phone email there's a live chat on our website that you can use and you can also reach us by Skype we're here 9:00 to 5:00 Eastern Time Monday through Friday we answer very very quickly if you happen to just when we're not available we will get to you right away as soon as we're back in the office so please feel free to reach out with any questions you might have and we'll take care of you and lastly I just want to encourage you if you're interested in receiving some information from us regularly we send out a weekly blog update if you want you can sign up on our website you can see how to do that right there it's all educational and news content that we send you don't spam you we don't send you it's on the email then we don't give your email address away to anyone else so it's totally up to you if you want to get that information from us but we encourage you to do so if that's something you're interested is all right so with that being said let's jump into these questions and let's see my clip let's start with a couple that were a little bit earlier that were just one clarification on what specific things meant can you clarify what physically operating in Delaware means yeah so physically operating in Delaware means you have an office location here or you have employees located in the state where you have a bank account located here in the state of Delaware that's what physically operating in the state of Delaware would be okay and we kind of touched on this on an earlier slide but what how would you define us income or how does a company know if they have you a source income that's a really good question us source income is it varies in many different ways it's a lot of different attributes and I ever want you to speak to a tax professional for more information on that okay one question that we got was given given that a company is not operating in Delaware it doesn't need a business license with that company need a business license in the country they are operating I yes you are generally going to um that's what the appa steel document is for so you generally take the IPOP seal - you're constantly the consulate in your country - in your home country to get off zatia to do business there and they will help you to let you know of anything else that you need to do in order to properly conduct business in your country we're not familiar with how other countries work but if there are certain things that you need we can certainly help get that information together okay there's a there's a couple questions here about about privacy and anonymity so just to combine those what what what documents would would contain somebody's information about ownership in a Delaware company is it also kept private in bank details okay so you know the infant that I can answer the question as far as bank accounts the banks are going to require certain information but I would would say to you that the banks are certainly going to keep any information that you provide to them confidential and private so when you farm a company here in Delaware the information none of your information is available for public record an LLC never has to file an annual report here in the state of Delaware so the owner information for an LLC always remains confidential and it's the owner information for an LLC is kept within an LLC operating agreement we do provide a template for you and you can it can it doesn't have to be in English it could be in your home country's language it's not required to be disclosed to the state of Delaware or the Harvard Business Services and in the LLC operating agreement is where you would show who is who the company who owns what the company and how a company is write on a daily basis for a corporation it's known as Bibles and it's the same thing there that's what shows who's whom the company owns what in the company and how the company is run on a daily basis the corporation does is required to file an annual report every year with the state of Delaware a new report does become available for public records so for the corporation there is certain information that will become available for public record the animal is a simple I got a simple thing that you fill out it just shows the company's physical office address who the directors are and lists at least one officer in the company and then one person is required to sign the annual report so when you are filing your annual franchise tax if you are using our services we all need annual report information is being asked for you as you're filling it out and then once we you take payment we take the end information and we file it with the state of Delaware okay Mike one person said that they they wanted to open a bank account in the United States and the baneful them that they had to have a physical address if you have to do that is that something that is common for all banks or isn't specific to maybe a specific type of Lea oh it may be specific to a certain type of bank we you know we're happy to help they clarify anything for the bank if they if they do give you trouble about opening a u.s. bank account again you can take advantage of our mail forwarding service if you if you do need a form of contact address so that's one of the ways to look at it but if the bank does have any questions we can certainly help clarify okay I'm following up on an earlier question I was vendor wanted to know it sounds like he would pay only 300 dollars and then $50 for registered agent per year what about income from Amazon sale how was that reported who was that reported to visible that's it depends on if it's u.s. income or things of that nature but that's a question that's definitely out of the realm of my expertise that it would be better suited to ask a tax professional or an accountant of how that would be reported and how it would be taxed okay and now the vendor also wants to know how to get a physical address in Delaware if you wanted to it seems that perhaps some some companies in this home country may or may not work with them depending on where that address is I don't know how to help them get a physical address in the state of Delaware but that's not a service that that we can provide okay so one person wants to know what series LLC is that we mentioned briefly was the difference between an LLC and series ability okay so a series LLC is a little more complicated of an entity it has one additional article in it that as it is a series LLC so a series LLC is basically like a chain so you have a parent company and then you have a number of different other companies that fall under that parent company and these may be DBAs or they may be you know other companies the series LLC is not well recognized by a lot of attorneys by a lot of states by the IRS it's that nature it's a little more complex of us of intensity type but it's it is basically you have a parent company and then you have different series underneath of them and we explain more information about it on our website but it is a very it is a little more complex I mean it's not as used by too many to many people but if you want to form the series LLC and sort of walk you through that process okay we've got a several questions here from Adrienne let's let's look at some of these do you have any idea if my Delaware company can act as an import company in the US as far as like importing and exporting you're going to want to talk you know you're definitely talk to the United States import and export professionals I don't have enough information that I can provide you the answer to that question and I do apologize okay and just a quick update here we're a couple minutes after 4:00 p.m. Eastern Time we still have a number of questions to get to so we'll stick around a little longer than that sure as many as we can here so if you aren't able to stick with us that's great and if you can't you will have the reporting availa le so sticking with Adrienne's questions I hear something about blockchain to validate Delaware company what do you know about it so the blockchain is something that is up-and-coming it is a relatively new this and there a lot of people are looking at it the blockchain goes with the cap table and and all that kind stuff and it's a little more it's a kind of a complex thing to explain in just a short period of words so if you want to email us at info at mm comm or email me directly micro with Delaware comm I can answer that question for you in more detail I just there's not enough time here for me to go into full detail about that okay and so can a company in Singapore act as an LLC owner in Delaware any reason with the Singapore company can anyone any well-acted so it's a company in Singapore that is an LLC and they want to act as an oder for a Delaware LLC i its what I'm understanding so yes if you wanted to have another company as the owner of a Delaware company it is possible okay and can I change the address or company medium once the company with establish yes you can change the company name and you can the address that is for our records can be updated at any time the state of Delaware doesn't know where the office the physical office address of the business is and doesn't need to know that information and neither does Harvard Business Services so that physical office address can be updated anytime you just need to notify it that you've updated your editor so that we can propagate your annual Billings to you and yes you can change the name of your entity at any point in time but it is more expensive to change the name of your entity than it is to forward file a brand new company but if you need to keep the history of the company and you just want to change the name you certainly provide that service to assist you okay and are we able to to suggest a company that makes it easier to open a bank account for non USA residents or not something we are able to do no we don't have any recommendations on the stars is it'll work with with making it easier to open a bank account as I said it's the easiest thing is to talk to a family member or friends who might be located in with us who can help assist you with opening that bank account because the banks are very they do require you to appear in person in order to open a US bank account so I don't have any recommendations but my for who did what they talk to but if you need to open a bank account and you can't appear in person a friend or family member is the best direction to go okay sticking with the the base account theme someone mentioned that opening account for Europeans is very difficult accounts for banks offering basic accounts for offshore tend to refuse our Delaware LLC saying that we cannot open an account because we provide advisory and other services do you know which services are refused by things I do not so and that might be something that differs from thing to basis yeah it does different from Bay to Bank like it says earlier everything can bankers tip for as far as what they require to open the bank account for the companies you're going to want to speak to them directly to spite out what they need and then if there are any additional documents that they need such as a certificate of in currency of Certificate of Good Standing a certified copy of a certificate of incorporation or LLC or something of that nature we can certainly provide those documents to as an additional cost sir Don as a question he asked earlier the question about using an LLC for real estate and there is a blog post available on our website about using LLC's for real estate but you definitely know what's better real estate an LLC or a corporation okay well I can't say you should do this and you should do that like I said the LLC is typically used for small businesses partnerships holding assets the corporation is typically used for companies that are looking to go public looking to transact business globally either stock involved in a corporation where is nevin see there's no stock involved in a company so often you know the LLC is the most popular type of entity but you know whatever business you do choose we are certainly happy to assist you but I would definitely recommend you going on our website and reading our blogs and the information that we have about being a you know a property owner and rental rental person okay we got a couple questions here as basically the same thing if I'm selling a physical product to the United States from abroad am I going to pay income taxes so if you're not physically operating in the United States you generally then you have no US source of income you will generally not pay income tax in the United States but if you are doing business within the United States and taking payments within the events AIDS or things of that nature you may be subject to us source income so again there's many different variables with that so I want you to speak to a tax professional or an accountant if anyone else has questions related to that there's not a whole lot more information that we can provide but you're welcome to email us and ask the specifics that you have and if we can help you certainly do that okay we have a few more to get to and then we can wrap it up if if a company is registered by a non-us resident and it doesn't do any business in the US and doesn't want to open the u.s. bank account does it have to obtain the US tax ID number you are only required to obtain a federal tax ID number if you are physically doing business here in the US opening a US bank account or have or have a physical office location here in the United States so if you are doing any of those things then you would be required to get a federal tax ID number but if you're just a US company with you're doing business not in the United States at all you typically don't need a federal tax ID number okay Mindy is asking what does it take to close a Delaware company so it is very easy to close a company here in Delaware you can either call the certificate of cancellation or certificate of dissolution and it would require you paying the filing fee or the certificate of cancellation or dissolution and then you would have to pay any past due or current franchise tax to formally close the company here in Delaware if you need a quote for that you can email payments at Delaware ENCOM and they'll be happy to provide you the quote the exact amount where it would cost to close your company Delaware and two final questions to wrap things up here to Delaware's govern the operation even if there's no physical location in Delaware do they cover dispute should they arise no Delaware does not govern the business activities or where you are doing business this information is not filed with the state of Delaware and it's that file with Harvard Business Services so you can operate your business where you would like as you would like and it's not required to be disclosed to the state of Delaware in order Harvard Business Services and finally can I add a member to my solo LLC so it's a one-person LLC can they add additional members and was able to notify us oh yes so you can add many members as you you can have as many metter owners and shareholders and directors and officers in your corporation or your LLC it is not required to disclose the state of Delaware or other business services because we all know the owners information generally you would only do that within within your LLC operating agreement for the LLC and the LLC operating agreement is typically kept on file at all times within the company and hope helps to show who is who in the company and how the company is run on a daily basis all right well that will do it for us and thank you all so much for these amazing questions we got a ton of great questions which you know really tells us that we're doing a right thing by pretending it's information for you on the webinar so thanks for joining us and taking some time out of your day we're going to be sending out the recording and the slides for today's webinar and you know that you'll receive tomorrow if you don't get this by around this time tomorrow please let us know and we'll make sure that we get you a copy you're welcome to contact us with any other questions that you have to be did you get to and besides that we just want to thank you again and hope you enjoy the rest of your day

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i have to download .pdf from web site to open it on box but i dont remember anyone help please? ? ? thanks in advance ------------------------------------------------------------------------------- From: Michael K. To: jaok20@ Subject: Re: How To Print a Bottle Opener Date: 12-01-2005 Hi J I am not sure what you mean by "print it on the back of the box lid". What I meant was to insert it on the back of the box lid with another bottle opener. My brother and I were talking about it the other day, and he showed me how to get the clip on the bottom to attach to the top of the lid. I am not sure why you would need to print it on the back of the box lid. My brother has a box opener which uses the clip as a hinge, which you would need to have printed on it. You can easily put the box openers side by side, and then you can flip it over, so the bottom side of the opener is facing out, and the top is facing in. Then you can insert the clip from the bottom side of the opener onto the bottom of the box, which will secure it. If you don't have a lid, you can use your hand to hold the box up, and then you can place the opener on the lid using the clip you already have, and it will stay in place. The best way, of course, to put the box openers side by side, is to put the opener on the backside of the lid of the box. Then you can flip it over, so the bottom of the opener is facing out, and the top is facing in. And then you could insert the clip from the bottom side of the...