Company Formation in Florida
Bordered by the southernmost U.S. States and the Gulf of Mexico, Florida has been flourishing as a profitable offshore business ground. With the capital city of Tallahassee, the country has become one of the attractive destinations with flexible tax structures, administrative advantages and business environment. With an area of 65,757 square miles, Florida stands as the 22nd largest state in the United States of America.
If you are looking forward to setting up an offshore company in any of the tax-haven jurisdictions, then you can count on Florida to take the process along. This guide highlights the essential criteria that are required to follow for establishing an offshore business entity in Florida.
Offshore Industry in Florida
As the offshore industry has left its footprints among various offshore nations, Florida has also taken respective measures of establishing itself as an offshore business ground. One of the core reasons that drive the business investors to proceed with the offshore business setup service is that the nation is not included in the blacklist.
Initially, the concept of offshore business dealt with the myth of money-laundering and criminal activities. Over the years, the viewpoint has changed dramatically as the popular offshore destinations have been building a favourable offshore climate for the business investors to come forward and incorporate an entity.
Offshore Business Entities in Florida
Now, an investor has got the following possibilities to choose the business structure while proceeding for offshore company incorporation in Florida, which includes:
- Sole Proprietorship
- General Partnership
- Limited Partnership
- Limited Liability Company (LLC)
- Corporation (C & S Corporation)
When it comes to the incorporation process, most business investors prefer to proceed with Limited Liability Company.
How to Start an Offshore Business in Florida?
Offshore business incorporation in Florida requires the business owners to follow specific steps that include:
1.Get in Touch with a Business Consultant
Company formation demands numerous steps to be taken accordingly to comply with the legal regulations that the jurisdiction holds. A certified offshore business consultant can help you to deal with the process in a hassle-free manner. At the same time, you will also experience less burden and can focus on other respective tasks that are on priority. Have a look at our guide on how business consultants can help to start an offshore company in Florida.
2.Understand the Process
The moment you join hands with an expert, be clear regarding the company set up process. Enter into a discussion so that both the parties come on a common ground and initiate the process accordingly.
3.Be Ready with the Documents-Set
Next, be handy with the company papers as that needs to be submitted to clear the company incorporation process. While proceeding for an offshore business unit, the following documents are presented:
- Filled application form of the offshore business
- Detailed business plan
- Identity proof of the business shareholders/directors
- Address proof of the business shareholders/directors
- Photos of business shareholders/directors
- Memorandum of Association (MOA)
- Articles of Association (AOA)
4.Submission and Verification of the Documents
Once you are settled with the respective papers, they need to be handed over to the business advisor, who will submit the same to the government authority of the specific tax-haven jurisdiction.
5.Get the Respective Approval
The submitted documents undergo a strict inspection, after which, respective approvals may or may not be issued. In case if it is not given, do have a word with your business advisor to rectify the errors accordingly.
6.Open an Offshore Bank Account
Any offshore business unit requires a bank account to carry out business transactions. Once you are done with offshore company formation in Florida, you need to check for the best banks that provide access to Florida offshore established business units. By opening one, you can get numerous advantages, which can be understood in detail in the guide mentioned below:
It is to be noted that a business investor can open an offshore bank in the same jurisdiction where the business entity got incorporated or a different offshore location.
7.Conduct the Business Operations
After opening the offshore bank account, you can carry out the business operations at an international level. The investment gates for several options like international or Forex Trading gets opened.
Benefits of Starting an Offshore Business in Florida
Since you have got a complete view of the processes to be followed for the offshore company set up in Florida, knowing the benefits of setting up one will help you to take the steps in a streamlined way.
- The hassle-free business incorporation process
- Stable and reputed offshore jurisdiction
- Can be operated remotely
- The company meetings can be conducted anywhere
- No currency restrictions
- Business owners hold the flexibility to open an offshore bank account
- Nominee director services can be availed
To know more, follow our guide on Why to Start an Offshore Company in Florida that will help you to have a clear idea of the benefits that you can derive.
In a nutshell, we can say that offshore company incorporation in Florida turns out to be a smart move, which can be cleared backed by expert advice.
At Business Setup Worldwide, we have dealt with business incorporation processes across popular offshore business destinations. Our experienced advisors have been dealing with business advisors since inception, and thus are well-versed to provide customized solutions suiting business needs.
If you plan to set up your offshore company in Florida, feel free to have a word with our experts. Contact us today-we’d be glad to assist!