Month: հուլիս 2016
Rush of Nevada corporations to Wyoming: the mystery has been solved!
We saw in the year 2015 that a rush of companies from Nevada transferred to Wyoming. We found out why in 2 blog posts entitled: The Nevada Corporation is Officially Dead : in 2015 the annual Business License fee was jacked up from US$200 to US$500 (a 150% increase!), making it the most expensive state to maintain a company. Nevada Business License : even worse, in 2009 the Nevada Secretary of State now requires everyone who has never filed a Nevada business license will now have to pay ALL the years back, plus late fees! So that explains why the number ... Read more
Wyoming Business Database: some great facts!
The Secretary of State of Wyoming made available for download their complete business entity database. We downloaded this data, and input it into a Database Management System (DBMS) called MySQL, therefore we are able to make some interesting queries (& discoveries). The very first filling made in Wyoming was for: the “United Presbyterian Church” in 1871 as a Nonprofit Corporation (Religious).The second filling was 4 years later: for the “Independent Order of Odd Fellows, Cheyenne Lodge Number One” in 1875 as a Nonprofit Corporation (Mutual Benefit). From inception in April 1869 to the 3rd of June 2016: 3,874 domestications or ... Read more
Domestication VS Continuance
A Domestication is the transfer of the domicile of incorporation of a company from a jurisdiction of origin to another (new) Domestic jurisdiction of destination. All assets & liabilities are transferred in one single process. In some jurisdictions, the Domestication includes the transfer of the starting date of incorporation; in others, the company is given a new birth date. A Continuance however, is a Domestication which guarantees the lifetime of company since birth, thus the company retains its age. The company just moves and continues its life in the new jurisdiction. In both cases, prior to any Domestication or Continuance, the ... Read more
Delaware (DE) VS Wyoming (WY) for LLCs
Let’s imagine both Delaware and Wyoming freeze their prices for renewals of LLCs, how would it go over a 10 years period?… That’s right, Delaware is 6 times more expensive than Wyoming. After 10 years you could save US$2500… With that amount, you can : buy stamps to send 5,319 snail mail postal letters within the US (USPS first class rate @ US$0.47/stamp – 2016 rate) OR register a domain name for 277 years (US$9/year) OR register an US trademark for 111 years (US$225/10 years – TEAS Plus) etc… Order our Delaware to Wyoming Domestication service to start saving!