Basic Tips for Your Business Corporation in Nevada
Among all the US states, Nevada is one of the most popular and known among the business owners because of its favorable regulations and business friendly approach and platform. Nevada has been coming up with new aggressive policies and agendas to attract potential business owners since years. The state soon came on the top position and defeated the other US states.
Often business owners prefer to form their businesses in Nevada. But they need to get prepared before incorporating in Nevada. In order to get prepared, business owners must make sure about certain fundamental requirements for smooth business incorporation. Here are few tips that would help you in getting prepared prior to starting your business in Nevada.
• Tip No. 1: Assign a Name to Your Corporation
The primary and most important thing in establishing a corporation in Nevada is to assign or identify a name for your corporation. If you are choosing a name for your corporation, then you must make sure that it is unique and different from other corporation’s names in the US. In order to ensure about its uniqueness, you can check the list of the names with the Secretary State of Nevada. Also, you can send an inquiry letter to the Nevada state office.
The purpose is to register a name which is not previously used and the name you register is exclusive to make you a unique brand. Additionally, it is important for you to add abbreviations in the end of the corporation’s name such as, Inc., Ltd., Co., or Corp.
• Tip No. 2: File Articles of Association for Your Corporation
Corporation has to be legal. For this, you require to file an article of association (also known as articles of incorporation or certificate of incorporation in some states) with Nevada. This document is a very important document and proof to your corporation’s existence. The moment you file this document, your corporation comes in to existence (unless the document shows a delayed date).
The articles of association must include the following details.
1. Name of the company
2. Purpose, mission, vision of the company
3. Names and addresses of resident agents and incorporators
4. Total number of authorized shares
• Tip No. 3: Hire a Resident Agent for Your Corporation
A resident agent is the party who has the legal right for the service of process (SOP). They are responsible to forward all your court proceedings, legal documents, paperwork, law suits and other important documents on behalf of your corporation. However, there are two important requirements to hiring a resident agent in Nevada.
• Resident agent must have a physical street address in Nevada
• Resident agent maintains their presence in the registered office during working hours on working days
The name and address of the resident agent must be designated under the articles of association. However, if you think the resident agent is not suitable for incorporation in Nevada, then you can change or replace the resident agent. But for this you’d require to undergo the registration process again and change the name and addresses provided in the articles of association.
With these tips in mind, you can successfully incorporate in Nevada. But make sure to follow the complete procedure to avoid any hassles in future.