I have finally submitted my LLC application with an agent in Delaware. I had also made a small list to compare some of the agents I was talking to. I am sharing it here just to help in the research of anyone. https://goo.gl/SRCZC8. While talking to a few agents, I have gained some information for forming an LLC in Delaware. The one I have selected for myself is highlighted in grey.
NOTE: I do have US SSN (Social Security Number), so my scenario is easier than other Pakistani applicants. But I have no relatives in the US and it is solely done by me as Single Member LLC.
Before & after forming LLC, you need the following.
1- Registered Agent in the state – The cost heavily varies based on the services agents provide. I am paying $45/yr that has very minimum services included. The registered agent gives you his mailing address to receive any legal and LLC-related documents from the state or court only. No business mails they will accept unless you pay them separately.
2- EIN (Employer Identification Number) You get it from the IRS website. The Agents would charge you anywhere between $50 to $199 depending on your situation. ie; I have SSN so it’s $50 for me. IRS has the option to generate EIN myself, so I will give it a try once my LLC documents are ready next week. I will update how it goes later.
3- Bank account – Unfortunately so far this hasn’t been solved without a presence in the Branch. However a couple of agents suggested there if you go to the local HSBC or Citi Bank branch in Pakistan, they should be able to help – I have NOT tried this since I am going to try first in the US directly using my SSN and other necessary docs. Else if you have a US citizen partner, he can be your office manager and open the business bank account for you. His signs will remain there but you can do all the transactions online.
4- Business Address – If you have a relative or partner in the US and agree to use his address as a business address, you are good to go. Else you need a business address. If you use a Virtual or PO Box address, it cannot be used for bank account opening, but you can use PO Box or Virtual address for your other business activities. It costs anywhere between $10/mo to $50 depending on the services provided.
The LLC has cost me a $180 one-time fee. Then I will be paying them $50/mo for Virtual Address as they also offer other services like mail scanning, phone number, etc. Plus their address is physical still.
Disclaimer: I take no responsibility for these services nor agents. I am sharing this as what I have gone through and gain little knowledge. I am not a CPA or accountant. You need advice from your CPA to set up the best options for your business. If you have questions and I might be able to answer, I can try. It’s not legal advice!
The list shared here is also for research purposes only. It doesn’t mean these are the best agents. It just means that I found them better over others while my research and I shortlisted these few and started my discussion with them. And finally signed up with the one highlighted in grey.