Starting a Nevada corporation demands few steps to get the best out of the process. We have structured the following guideline to assist you to create an excellent corporation, not forgetting that you can also use the online corporation service.
- Choose a Corporate Name
The name used for corporate should not appear to be or a natural person or a given name. This can be accepted if there is an addition of a corporate ending like “Inc,” “Limited,” “Ltd,” “Company,” “Co,” or other words that identify it as not being a natural person.
In addition to the requirements above, the name of your corporation should be distinguishable from all other names. Usually, your name will be checked at the Nevada Secretary of State business name database for availability.
Prepare and file Articles of Incorporation
Filling the Articles of Incorporation with the Nevada Secretary of the state indicates that your corporation is legally created. The articles should also include the corporate name and address. Additional details that will be required for your Nevada corporation include the signature of an agent for service of process, number of shares, titles, and addresses of the broad of directors, and finally names and addresses of the incorporator. The registered agent is also required to complete and sign a certificate of acceptance with the Articles of Incorporation form.
File list of Officers
The initial list of Officers, Directors, registered Agent, and State business license application should be presented with the articles. The form goes with the Articles of Incorporation forms packet. The fee charged for these amounts to $650 this consists of the initial list fee ($150) and the business license fee ($500).
Appoint a Registered Agent
Nevada corporations are required to have an agent for service of process in the state. The individuals will be in charge of accepting legal papers on the corporation behalf when sued. The registered agent for the Nevada corporation must also be a Nevada resident or any business entity authorized to run business in the state. Registered agents are also required to have a physical street address in Nevada (there are no office boxes in Nevada). Agents should agree to accept service of the process on your corporation’s behalf before designation.
Setting Up a Corporate Records Book
Setting up a corporate records book will help you keep all the essential papers intact at all times. Some of the critical documents include minutes of directors and shareholders’ meetings, stock certificates, and stock certificate stubs. You are likewise expected to keep your documents book at the principal office of your corporation for quick reference. A three-ring binder can be an excellent corporate records book, but you can order a specialized corporate documents kit using a corporate kit provider.
Prepare Corporate Bylaws
Bylaws are internal corporate documents that are set out the basic ground rule for running your company. Your company is not lawfully expected to have corporate laws, but it’s an essential aspect of running your corporate. It helps you establish your corporations operating rules; seconds it shows banks, creditors, the IRS, and others that your corporation is legitimate.
Hold Your First Board of Directors Meeting
The first Board of directors meeting for your Nevada corporation is highly essential to adopt bylaws. Here is also where they can select a corporate bank, set the corporation’s fiscal year, authorize the issuance of shares of stock and forming stock certificate form, and finally the corporate seal. The director’s action has to be recorded in corporate minutes prepared by the incorporator or any of the directors.
Issue Stock
This step is not required in most states, but it is essential to issue stock to each shareholder. Shareholder’s names and contact information are to be transferred to the corporation’s stock transfer ledger.
One share of stoke in a corporation is classified as a security under state and the federal securities laws regulating the offer and sale of the corporate stole. However, most the federal government and all states keep all small corporations from the following rules. A good example is a law exempts private offerings (non-advertised sell to fewer people). Most states enact their versions of SEC; you can visit the states securities office website for more information on the states securities laws. You will find a link to the following offices at the following web page link: web page of the North American Securities Administrators Associations.
Foreign Corporations Doing Business in Nevada
Corporations registered outside of Nevada are required to register with the Nevada Secretary of State to do business in Nevada. Foreign corporations must also appoint a registered agent to provide a physical location for the corporation in Nevada. You are also required to file a foreign (Non-Nevada) Corporation Qualification. This must be accompanied by a certificate of existence, which should be no more than 90 days old (from the secretary of state). The form can be filed online by mail; you can choose which method suits you. Depending on the number of authorized shares of the foreign corporation your filing fee with vary, but the initial payment still stands at $150.
Before filling the results, ensure that the corporation’s name is available in Nevada; you can do this by checking the Nevada business name database. In case your name is not possible, the foreign corporation must come up with a suitable name for use in Nevada. This should be accompanied by providing a resolution from the Board of director signed by the secretary to adopt this DBA name.
