NEVADA FOREIGN CORPORATION
Nevada is a land of exciting business opportunities and with no corporate and personal income tax, it presents just the right environment for a small business. This is one of the many reasons why businesses based in any other state want to explore the Silver State for growth opportunities. If your business has been registered in another state, can you register in Nevada? Yes, it is possible by registering as a Nevada foreign corporation.
What is Foreign Corporation in Nevada?
A foreign corporation is a business entity that conducts its business in a jurisdiction or state other than where it had been originally incorporated. A Nevada foreign corporation will be a business entity that conducts its business in any other state except Nevada. The foreign corporation can be an existing corporation in any other state or any other type of corporate entity like a limited liability company (LLC). Such a business entity can be a domestic corporation incorporated in another state or corporation registered outside the USA. Let’s look at an example:
A business “ANBC Inc.,” was formed in 2010 in California and is looking to expand. If the said entity wants to conduct its business in Nevada then they will have to register with the state first. It is important to know that different states have different laws and requirements for registering a foreign business entity.
How to File a Foreign Corporation in Nevada
If you already have an established business corporation in another state but want to establish it in Nevada then it needs to be registered as a foreign corporation. The formation of foreign corporations in Nevada is governed by Chapter 80 of the 2017 Nevada Revised Statutes. You will be required to file a “Certificate of Authority” with the Secretary of State pursuant to NV Rev Stat § 80.010 (2017).
The process of forming a Nevada foreign corporation is not difficult but you have to be careful and provide specific information required by the office of the Secretary of State. In order to help you identify the process for filing a foreign corporation in Nevada, we have created a step-by-step approach.
The first step is to download the “Qualification to do Business in Nevada” form available with the Secretary of State. You can fill the information required and process to be followed as mentioned in the following steps.
Alternatively, you can save time by ordering it through us! All you have to do is just provide the necessary information regarding your business and we will take care of the rest as your registered agent in Nevada. You can also be your own registered agent and order it directly from incparadise. Through this process, you will not be required to follow any of the steps mentioned below and your application will be submitted on the same day.
You will have to provide specific information in the certificate of authority or qualification to do business in Nevada document pursuant to NV Rev Stat § 80.010 (2017). The information required includes:
- Name of the foreign corporation
- Original jurisdiction or state of incorporation
- A declaration or letter of good standing of the corporation from the state of jurisdiction or incorporation
- Details pertaining to being a registered agent in Nevada pursuant to NRS 77.310
- If you are registering for Profit Corporation then information pertaining authorized stock including number of shares with par value has to be provided
- The purposes of the said corporation
- Name, title and signature of the officer preparing the certificate of authority or qualification to do business in Nevada
- Signature of the Nevada registered agent along with the date signed on
Once you have completed the certificate of authority or qualification to do business in Nevada application, you will have to fill out the customer order instructions. This document is used for indicating the payment method you have chosen to submit the required fee. You will have to provide the following information in the customer order instructions:
- The type of processing requested by you – regular or expedited
- Name of the business entity or corporation
- A return address
- Contact name
- Phone number
- Return delivery instructions like email, fax, etc
- The total filing fee
- Method of payment
The final step for registering a Nevada foreign corporation is to make the payment. The filing fee for stock corporations is dependent on the total number of authorized shares.
What does it cost to register a foreign corporation in Nevada?
The cost of registering a Nevada foreign corporation can vary according to the total number of authorized shares that the entity has. The fee based on shares is as follows:
- If you have shares worth $75,000 or less, the fee is $75
- If the authorized shares are over $75,000 and less than $200,000 – Fee is $175
- If the authorized shares are over $200,000 and less than $500,000 – Fee is $275
- If the authorized shares are over $500,000 and less than $1,000,000 – Fee is $375
- If the authorized shares are over $1,000,000 then the fee for the first $1,000,000 will be $375
- For each additional $500,000 worth authorized shares or any fraction thereof will have a fee of $275
- The Maximum fee applicable will not exceed $35,000
How long does it take for the state to process the Nevada Certificate of Authority?
The normal time it takes to process the certificate of authority or qualification to do business in Nevada application is around 30 business days. There is always the option to opt for expedited processing for which there will be an additional fee. Either option that is regular and expedited processing is available if you hire IncParadise as your Nevada resident agent.
Will I need a Nevada registered agent for Nevada Foreign Corporation?
The corporate laws in most states in the U.S including Nevada, requires each and every business entity formed or registered in the state, to designate as well as maintain a commercial or registered agent in that state’s public records. According to NRS 77.310, NRS 77.390 and NV Rev Stat § 80.060 (2017) of the Nevada Revised Statutes, a Nevada foreign corporation has to designate as well as maintain a registered agent in Nevada to enable service of process.
Will I need a Nevada annual report for my corporation?
An annual report is also known as an annual list in the state of Nevada. Each foreign corporation conducting business in this State has to submit an annual list with the Secretary of State pursuant to NV Rev Stat § 80.110 (2017). This list has to be filed annually on or before the last day of the anniversary month or the month in which the qualification to do business application or Certificate of Authority was filed. So, if you had filed for qualification in December 2018 then you will have to file the annual list by December 31, 2019.
The annual list or report should contain the names and addresses, of the entity’s secretary, president, treasurer, or all of its directors. The annual list for a Nevada foreign corporation has to be signed by an officer of the corporation or any person authorized by the entity to sign the report.
How IncParadise helps you with Nevada Foreign Corporation
Sometimes, filing of paperwork and the entire process of qualification of a Nevada foreign corporation can be overwhelming. It is important to know that incorrect information or lack of details in the Nevada foreign incorporation application can lead to the Secretary of State rejecting the documents. This is where IncParadise can provide its expertise and a team of experienced professionals to ensure you are able to submit your incorporation documents on time and it contains all the information as required.
If you hire IncParadise as the registered agent for your Nevada foreign corporation then your business can benefit from the following services:
- Service of process i.e., accepting any legal notices from the state on behalf of your foreign corporation including summons and subpoenas
- Help your foreign corporation to file their certificate of authority or qualification to do business in Nevada application
- Provide information on how best you can form a Nevada foreign corporation and what information and documentation is required to be submitted with the state
- You can benefit from our highly secure dashboard that will help you to submit your annual report online
- You will also get annual report due date alerts so that the report is submitting on time thus avoiding penalties
- Provide additional services like filing of annual report, getting EIN or Tax ID, application for a business license etc.