Delaware Jurisdiction facts guide

Delaware is a small state situated on the east coast of the USA.

Delaware Limited Liability Companies (LLC’s) may be formed quickly and without bureaucracy.

Apart from the ease of formation, a Delaware LLC is extremely tax efficient when used by non US resident principals and where the LLC does not trade in the USA.

No US taxes for non US owners where the LLC does not trade in or from the USA.

Strong privacy. No public disclosure of members & managers.


Formation Time

Formation generally takes 1 to 2 days from instruction.  Documentation is normally received in our offices in 5 – 7 days of formation.

Taxes & Accounts

Accounts need not be filed and for most Delaware LLCs.

A Delaware LLC that conducts no business in the USA is generally not subject to US taxes and neither is it’s non-resident owner(s).  In such cases, there is only a nominal annual “franchise fee” payable.  A “non-resident” LLC is not required to file a US income tax return. In order to provide evidence of this non-resident status we require that clients operating a non-resident LLC have a trading and/or administration address outside the USA for the company.



Members & Managers

The members of a Delaware LLC are the owners.  A single member LLC is permitted. The manager of a Delaware LLC fulfils the same function as a director.  Again, a single manager is permitted. There is no equivalent position to a Company Secretary, the registered agent is the legal point of contact in the US but is not an officer of the company.  However, the title “Company Secretary” may be created in the Members Agreement if desired, as can “president”, “vice-president” etc.



Bank account

A Delaware LLC in theory can open a bank account almost anywhere in the world. However banks are becoming increasingly cautious due to pressure by the US government and FATCA. Please contact us for further advice.

Delaware LLC Company Formation

DELAWARE (USA)

Inexpensive to form & maintain.

A Delaware LLC can open an account at a number of banks worldwide, but see note below.

Privacy

There is no public disclosure of information as the Delaware registry does not require this information to be filed. On formation, we become the “client of record” on behalf of the owner.  The company documentation of course records the client as being the member/manager. The use of nominees can further enhance privacy.

Form a Delaware LLC

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Please note that TMS FZE provides an execution only service in respect of the formation of companies, opening bank accounts and related services. Therefore comments or suggestions made by us should not be considered as formal advice. Should you require formal structuring advice, please contact us.


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