INCORPORATE IN VIRGINIA – ESSENTIAL INFORMATION FOR YOU

2007-03-08 10:33:40

( Business )



The steps to follow in incorporating a business are generally the same for all states. If there are differences in the procedures, it is because a corporation is a legal entity that is separate from its owners. Its formation and operation must be governed by very specific state laws. Even if you are certain that it is best for you to incorporate in Virginia, you should still try to acquire more information about the state. Whether you are incorporating a small business or a multi-national company, familiarity with the incorporating process will still be a big help.

You can incorporate in Virginia in three ways: you can walk in to the State Corporation Commission and do the incorporating yourself, engage an attorney, or employ an incorporating services company.

You should also know that if you decide to incorporate in Virginia, your business must have an authorized registered agent and maintain a registered office in the state.

In addition, your corporation must have at least one director. There are no prescribed age qualifications and Virginia does not have any provision on residence requirements for directors.

Remember to choose a corporate name that has not been registered or reserved in the State Corporation Commission. The name must not contain any word or phrase that implies your business is formed for any purpose other than that allowed by Virginia law or cited in your Articles of Incorporation. In addition, your name must include the word (or the abbreviation of the word) “corporation,” “incorporated,” “company,” or “limited.”

Your Articles of Incorporation should include the incorporators, the address of your principal place of business, and the classes of shares your corporation is authorized to issue plus the number of shares for each class. Directors and officers need not be listed in the Articles of Incorporation.

All in all, if you properly observe the formalities and prepare the necessary documentation on time, incorporating in Virginia would be a breeze.


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