Company formation starts after several administrative procedures are completed and the individual needs are translated to the corporate possibilities. The incorporation of the company requires the appointment of at least one director, the issuance of share certificates, and the approval of the Business License. Also, the internal rules, procedures and responsibilities must be codified in the bylaws of the company.
The Department of Licensing is responsible for the application process that permits companies to conduct business in Washington state. In the United States, each individual state can decide on its own requirements for companies to operate legally. Failure to comply with the licensing requirements permit government agencies to fine or close a business. The business license must be renewed annually.
Most of our clients willing to incorporate in Washington State, are not US residents. Bank account opening in the United States is therefore not always easy. Yet, customer due diligence and know your client procedures are strictly followed by us as introducer to ensure an easier bank account opening process, both locally and abroad. Upon request by the client bank account opening in other financial centers is possible.
Income tax in the USA is imposed at federal, state and local levels. The (for profit) C corporation is taxed separately from its owners under federal income tax. A sophisticated corporate structure can thus result in a tax neutral position for the owners of the company. To comply with the federal, state, local and domestic laws in case the beneficiary is abroad, requires tailored and professional assistance.
Businesses with foreign management boards often need several corporate services to help them comply with local company laws. To ensure that our clients can focus on building and growing their business, several mandatory professional and (mainly) administrative tasks are provided by us. Running a business in Washington State therefore has the potential to become a profitable enterprise, instead of an ordeal.
Companies registered in Washington State, alongside several other states and jurisdictions, hire Legal Floris LLC to recover assets and funds blocked on (offshore) bank accounts or illegally taken via fraud, embezzlement or theft, and other obscure acts. Where the Washington company is responsible for losses, we are able to assist the victims of fraud. The asset and fund recovery strategy utilized groups victims to ensure maximum success.