Global Business Service Agency: legal services for business

Global Business Service Agency provides services in the field of tax optimization. Our experienced professionals help clients with the opening and maintenance of offshore companies and opening bank accounts. GBS Agency organizes and supports the work of companies on all continents.

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California is a state that in 2017 showed an economic growth of $127 billion, surpassing even the UK in terms of indicators. In the last 5 years, the state share of the country economy has risen to 14.2%, which is an impressive argument for investors interested in business registration in California.

Company in California: what is the attractive jurisdiction for international business

  1. California is a famous Silicon Valley, where the largest shares and investments of it-sector not only state, but also the USA are concentrated.
  2. Californian Hollywood is an entertainment center throughout America, respectively, and residents of the state represented by famous directors and stars of show business-priority solvent customers.
  3. The state is considered the aerospace capital of the country, where a huge number of aviation enterprises and military bases are concentrated.
  4. On the coast of the state is explored an impressive number of oil fields, which also attracts international investors in the field of mining and processing of "black gold".

Business features in the state

  1. In the region the most popular and profitable total fertility rate are considered to be sole proprietorship (individual enterprise) and company with limited liability (limited liability company).
  2. The participants of LLC have strict inviolability of personal property.
  3. LLC management can choose the form of taxation of the enterprise: As a partnership, corporation, or sole proprietor and beneficiary.
  4. In case of withdrawal from the LLC at least one of the founders, the other shareholders must either reregister the company or redeem the share of the outgoing participant.
  5. All companies registered and organized in California are required to pay federal and state taxes:
    • Income tax for physical persons – 13.3%;
    • Corporate tax – 8.84%;Sales tax – 7.25%;
    • Real estate tax – 0.76%.
  6. Any state firm that has received an individual tax number is obliged to submit an annual financial report and a tax return. It is also worth considering that if the company has more than 1 employee, the owner is required to issue an individual employer number.

Incorporation of a company in California: regulations for incorporation

The registration of a new company will require at least one founder, independent, individual or legal person, and his/her residency. State law also permits the management of the company to be conducted by third parties who are not employees or founders. By the time of registration, the owner needs to formalize the legal address of the future company and sign an agency agreement on representative services to the local authorities.

State authorities do not regulate the statutory fund. However, it is worth considering that to open a corporate bank account with the incorporation of the authorized capital, California banking organizations will require List of Officers (List of officials).

The minimum package of documents for opening a company should include:

  • Data on officials;
  • Memorandum and charter;
  • Operational agreement (preferably, but not required);
  • Agency agreement;
  • Resolution appointing the director;
  • Certificates of shares.

The minimum cost of opening a new company with the help of specialists GBS Agency – from $1 300. More details about the conditions of opening a company in your field of activity check with our experts!

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