Organizational Minutes for a Hawaii Professional Corporation

A professional corporation is a variation of the corporate form available to entrepreneurs who provide professional servicessuch as doctors, lawyers, accountants, consultants, and architects.In a professional corporation, the owners perform services for the business as employees.

You can have a single-owner corporation. But if these steps sound a bit like overkill for your one-person business, you might want to consider forming a Limited Liability Company (LLC) instead. The LLC structure still separates you from the business to minimize your personal liability.

Expedited Processing Time to process your corporation or LLC formation varies by state with routine processing taking 4 - 6 weeks or even more in the slowest states. Expedited Processing will reduce that time to about 10 business days or less with the exception of just a few states.

Choose a Business Name. Check Availability of Name. Register a DBA Name. Appoint Directors. File Your Articles of Incorporation. Write Your Corporate Bylaws. Draft a Shareholders' Agreement. Hold Initial Board of Directors Meeting.

Depending on how fast the state processes business filings, it can generally take between a week to ten business days. In some states, once your intake information is received, the state agency often issues approval for the limited liability company within only three business days.

To register a Domestic Profit Corporation in Hawaii, you must file the Articles of Incorporation (Form DC-1), along with the appropriate filing fee(s) with the Department of Commerce and Consumer Affairs (DCCA), Business Registration Division. Registrations can be filed online, or by email, mail, or fax.

A corporation is created when it is incorporated by a group of shareholders who have ownership of the corporation, represented by their holding of common stock, to pursue a common goal.A corporation can have a single shareholder or several. With publicly traded corporations, there are often thousands of shareholders.

A professional corporation is one that only performs services in one, single profession. It is a specific type of corporation for professionals like doctors, lawyers, accountants, etc. The professional is able to form a corporation, but the professional remains liable for his or her own actions.

Corporations are required to pay between $50 and $200 in government filing fees. This is in addition to the filing fees paid to the Secretary of State. Government filings are based on the type of business being incorporated and the state in which the business is incorporating.