Author: Prominee
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!
Brexit & trademarks: you need to act fast!
While many feel disappointed, shocked, and worried by the tyranny of the majority, all of those EU features can be kept by the UK: free movement of capital, goods, services, & persons will remain (under the EEA or EFTA) without being in the EU Mexico, the US, South Korea, etc, all entered into Free Trade Agreements with the EU, so why not with the UK, and between the UK and those countries? the border between the Republic of Ireland and Northern Ireland do not need to be restored, just like there are no borders between Monaco (being outside of the ... Read more
LLC Annual Franchise tax in Delaware
When we started to invest in Delaware back in 2002, the annual Franchise Tax for a LLC in Delaware was US$100/year. Now it is standing at US$300/year, and will probably increase in the years to come… We have compiled an history of the Delaware annual franchise tax fees for LLCs below: Competition within the US is fierce, and Delaware is definitely not a good state to start a business in…
Delaware Myth (& Lie?)
It is amazing how long a myth can prosper and a lie be spread as a truth. Maybe because this one came from a State, nobody double checked?… The State of Delaware, on its own website and since 2003 is claiming that: Why Choose Delaware as Your Corporate Home? More than half a million business entities have their legal home in Delaware including more than 50% of all U.S. publicly-traded companies and 58% of the Fortune 500. While some Fortune 500 companies may have an entity registered in the State of Delaware, this report by CEO.com back in 2013 clearly ... Read more
LLC vs Corporations
The debate between LLC vs Corporations can be difficult for an investor in the US. Let’s have a look at the trend of LLCs in the State of Delaware: The trend and adoptions of LLCs is massive.
Stay away from The Gambia iCommerceRegistry
It is amazing and pretty enthusiastic to see the launch of new initiative and modernization plan for The Gambia, but the Vision 2020 of the dictator is just another fantasy to lure investors and potentially to defraud them. In Africa, private property is not protected: spoliation, confiscation, and treason are widespread. When the Union of the Comoros (a small country in South East Africa) were unstable, the Governor of the island of Anjouan started an identical scheme. The aftermath after some years?… He had to flee the Comoros to Bénin in fear of his life: his dictatorship, fake polls results, ... Read more
The Gambia new Companies Registry
Since August, 2013 the West African country The Gambia launched its new iCommerce Registry of The Gambia. Behind this is the will of Captain Yahya A.J.J.Jammeh, the dictator so called “President of The Gambia”. We do not advise anybody to register a company there. Please see our next post in the Warnings category.