U.S.A.

General Information on U.S.A.
USA company

General Information on U.S.A.:

About USA:

The United States of America are an independent Federal Republic, comprising of 51 states.

Legal system in USA:

Common Law.

Currency in USA:

United States Dollar (USD).

Language in USA:

English is the official language

Time Zone:

New York   -   (GMT -05:00)
Washington DC   - (GMT -05:00)
Delaware   -   (GMT -05:00)

USA company:

Types of a US Company:

US LLC (Limited Liability Company). US LLCs are very popular vehicles for international businesses. It is neither a partnership nor a corporation, but combines both structures.

Company Law in U.S.A.:

Depends on each state, for example:

for Delaware - Delaware Corporation Law 1994-95;
for New York - New York Limited Liability Company Law (Chapter 34).

Capital requirement of a US company:

Minimum capital requirement: NONE

Restrictions on activity of a US company:

LLCs are not allowed to undertake business in banking, insurance, assurance or reinsurance, unless special consent or license is given.

Taxation of a US company:

LLCs are usually treated as a partnership for tax purposes, and the income passes through to its members who are taxed at a personal level. US LLCs that conduct business outside the specific states, have non-resident members, and do not have income from the U.S., are not subject to pay US federal income tax or state income tax, and are not liable to file an income tax return.

Double Tax Treaties between U.S.A. & other countries:

A large number of treaties.

Annual Returns of a US company:

Not required.

Annual License Fee in a US company:

Usually in most states there is a standard annual fee, for example:

Delaware   -   USD 200
New York   -   no fee
Washington   -   USD 200

Annual Financial Reporting of a US company:

Not required, unless the company is involved in business within the state.

Registered Office & Registered Agent in U.S.A.:

A Registered Office must be maintained in the state of incorporation.

Company Secretary in a US company:

Yes, a secretary should be appointed.

Directors in a US company:

Minimum of one. Can be either a physical person or a corporate body, and non US residence. May vary from state to state.

Shareholders in a US companiy

Minimum of one

Confidentiality in a US company:

Very confidential, since there are no filing and reporting requirements.

Disclosure of Beneficial Ownership in a US company:

No, for most states.

Disclosure of directors in a US company:

No, for most states.

Bearer shares in a US company:

No.

Exchange controls in a US company:

None

Language of Name of a US company:

Can be incorporated using any language in Latin Alphabet.

Name restrictions of a US company:

Any name which the specific state considers undesirable, obscene or offensive and names such as royal or imperial, or any name with a similar existing company. Names such as banks, insurance, reinsurance, trust are prohibited in all states.