S Corporation With Foreign Shareholder In Broward
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You will need to file your Application by Foreign Corporation for Authorization to Transact Business in Florida with the Florida Department of State, New Filings Section, Division of Corporations.
To start a business in Florida you need to: Check with your County Tax Collector to see if you need a license. Register your business with the Department of Revenue. Download their Registering Your Business form (PDF).
Filing an S Corp in Florida Step 1: Choose a Name. Use the Florida Department of State to find a business name that's not being used by another entity. Step 2: File your Articles of Incorporation. Step 3: Apply for a Business License. Step 4: Get Your EIN. Step 5: Submit the Form.
If you're not a citizen, you must qualify as a resident alien to own a stake in an S Corp. Resident aliens are those who have moved to the United States and have residency but aren't citizens. Of the below, only permanent residents can own an S Corp.
In Florida, there are two main forms of transferring ownership of a corporation – gradual sales and outright sales. When someone transfers ownership of a corporation via gradual sale, the buyer receives the shares over a pre-determined period, while he/she is still paying the installments.
To register as a foreign corporation in Florida, you need to file the Application by Foreign Corporation for Authorization to Transact Business in Florida with the Florida Department of State, New Filings Section, Division of Corporations. This costs $70.
If your business is a limited liability company (LLC), corporation, partnership, or nonprofit corporation, you'll probably need to register with any state where you conduct business activities.
You can register a Florida business with ease even as a foreigner but it is important to note that you will be allowed to form only legal business entities in the state.
Before you start or open a business in Florida you should know that any person or existing business can make and own a business in Florida. Florida does not have residency restrictions on the owners but the business must have a registered agent physically located in the state to receive service of process.
Generally, there are no restrictions on foreign ownership of a company formed in the United States. The procedure for a foreign citizen to form a company in the US is the same as for a US resident. It is not necessary to be a US citizen or to have a green card to own a corporation or LLC.
