Guam Change of Company Name: Understanding the Process and Types of Name Changes Introduction: A change of company name is a significant decision that businesses may consider for various reasons. In the case of Guam, the process and requirements for changing a company name are regulated by the Guam Department of Revenue and Taxation. This article aims to provide a detailed description of what the Guam Change of Company Name entails, along with different types of name changes that businesses can opt for. What is Guam Change of Company Name? The Guam Change of Company Name refers to the legal procedure through which businesses in Guam can modify their registered name officially. This process allows companies to rebrand, reflect a change in ownership, expand their business scope, or convey a new image to their target audience. Process of Changing Company Name in Guam: 1. Research and Prepare: Before initiating the name change process, it's crucial to research potential new names, considering their uniqueness and availability for registration. Once a suitable name is chosen, prepare the necessary documents for the application. 2. Board Resolution: Obtain an official board resolution, signed by all company directors, addressing the intent to change the company name. This document will serve as evidence of internal approval. 3. Amendment of Articles of Incorporation: Prepare an amended Articles of Incorporation document, including the new company name and any other relevant modifications desired. This document requires notarization. 4. Legal Publication: Publish a notice of the name change in a legally recognized newspaper in Guam. The publication should include the old company name, new company name, change details, effective date, and the reason for the name change. 5. Filing with the Guam Department of Revenue and Taxation: File the amended Articles of Incorporation and other required documents with the Guam Department of Revenue and Taxation. This filing will update the official records of the corporation. 6. Notify Relevant Parties: Inform various parties about the name change, including clients, suppliers, customers, government agencies, financial institutions, and other stakeholders. Update all legal documents, contracts, marketing materials, and digital platforms accordingly. Types of Change of Company Name in Guam: 1. Rebranding: Companies undergoing a rebranding effort change their name to adopt a new image, refresh their market presence, or appeal to a different target audience. 2. Merger or Acquisition: After a merger or acquisition, the resulting entity may choose to adopt a new name that reflects the synergies and vision of the combined businesses. 3. Change in Business Focus: As companies evolve and pivot, they may opt for a name change to align with their new core business activities or sectors. 4. Legal Compliance: Occasionally, a name change may be required to comply with regulatory guidelines, resolve conflicts with existing registered trademarks, or address other legal concerns. Conclusion: Changing a company name in Guam involves a comprehensive process, including research, board resolutions, legal publications, document filings, and stakeholder notifications. The types of name change range from rebranding efforts to mergers, acquisitions, shifting business focuses, and legal compliance requirements. It is crucial for businesses in Guam to understand the process and choose the appropriate type of name change to achieve their desired goals effectively.
Guam Change of company name
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How to fill out Guam Change Of Company Name?
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How much will a name change cost? The legal fee is $895, the court fees are $320, and the posting fee is $75, for a total of $1,290*. This fee includes the preparation of the necessary court documents, the posting of the name change hearing, and one court hearing.
Businesses in Guam that regularly transact business in Guam under a name different from their legal name, must file a DBA.
Guam LLC Cost. The main cost of starting a Guam LLC is the $250 fee to register with the Department of Revenue and Taxation. You'll also have a yearly fee of $100 to file your Guam Sworn Annual Report, which keeps your business up-to-date and legally authorized to do business in Guam.
Why is registration required? The Fictitious Name Act (s.865.09, F.S.) requires any person (which, by definition, includes an individual, as well as a business entity) to register their ?fictitious name? or ?dba? name with the Florida Department of State prior to conducting business in Florida.
Ready to Start a Business in Guam? Pick a Business Structure. Name Your Business. File Formation Paperwork. Draft Internal Records. Get Guam Business Licenses. Get Business Insurance. File the Guam Sworn Annual Report. Build Your Business Website.
If you are a sole proprietorship, you are legally required to operate under your name unless a DBA is filed. Depending on the state and type of business conducted, filing a DBA isn't usually necessary. But if you plan on operating under a different name than your personal name, either an LLC or DBA is required.
Go online to our website: .govguamdocs.com. Submitting application to General Licensing and Registration Branch at Department of Revenue & Taxation (Phone Number 635-1828/9) Clearances from the Government Agencies.
