Forming an LLC

12 years ago

Obviously it isn't necessary or just about everyone here would have an LLC in Nevada. Thing is, nobody here is in a position to tell you what is best for you to do. When it comes to the best business structure for your situation, you need to know your options and why you end up selecting one option over another. It isn't as simple as "someone told me I should."

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Michael Mayhew

12 years ago

Check LegalZoom.com

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pamon

12 years ago

@bilby08, i've setup a few different LLC's for my companies and done them myself. Legalzoom is good but a little pricey. No way in hell should it cost that much. Most people can complete the forms, get a registered agebt and form the company. Heck, I'll do it for you for $500.

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kindsvater

12 years ago

Originally Posted by bilby08

I've been advised to form an LLC in Nevada if I want to do affiliate marketing. Set up cost of $2000. Do I really need this and if so, can I do it for less?

You have received some really bad advise. You don't need to create a US business and subject yourself to US taxes and regulations. And even if you did, it does not cost $2k or anything close to that.

.

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ina696

12 years ago

Maybe Pamon could write a step-by-step guide for those of us who'd gladly buy it... (hint, hint)

I want to form an LLC and was thinking Legalzoom but if there is a way I could do it myself with an agent (?), well then ...

Ina

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Alam

12 years ago

It is not necessary and it cost less than $500 to form an LLC.

Some useful links for you:
https://www.incorporate.com/incorpor...EntityType=LLC
The Nevada Company: State of Nevada Incorporation: Incorporate a Business: Nevada Registered Agent Service
How to Form an LLC in Nevada | Nolo.com

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VinBed

12 years ago

$2k for an LLC in nevada? You are being ripped off. It shouldn't cost more than a few hundred dollars. $200-$400 probably.

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Miriam Higginbotham

12 years ago

I am like everyone else who has commented above. That is an outrageous amount of money to form an LLC. I am not sure why you would need to set up one here in the US anyway. I personally incorporated doing an SCorporation. I did this for my off-line business and use it for my online business as well. That way I do not have to pay self-employment taxes. You can do this yourself or hire either an attorney or a CPA. It would not cost anywhere near $2000.00.

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bhump

12 years ago

It should not cost anywhere near $2,000 to form an LLC however I would not recommend using a site such as Legal Zoom. I have several LLC's setup for various companies and have used various services (attorney's, website's, etc.). I have found the $ invested in having a good attorney set this up is well worth it but it should still not be any more than $500.

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jondaR 12 years ago

If you need a LLC, Nevada is not the place to do it. New Mexico is.
Google J J Luna as I cant post links. It costs 397.00 $ for every thing you need.
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J Bold

12 years ago

Perhaps the $2000 is with a virtual office included? That's the only reason I could think it would be so much money.

I don't see why you need to get a U.S. business for your internet business. Australia should be just fine. There are some cases where having a U.S. bank account might be advantageous such as with Clickbank, for instance. But I think just having your business in Oz would do fine. Ask some other Aussies on the board for their advice. Preferably ones that actually make decent money online.

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TeamFreedom

Banned 12 years ago

[DELETED]

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Jeff Lenney 12 years ago

Originally Posted by TeamFreedom

$3,000 is way too much for a Nevada LLC.

So is $4,000.
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JackieGold

12 years ago

I created an LLC for several hundred dollars via https://www.incorporate.com
I was very, very happy with the service and support

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kochtgr

12 years ago

Does anyone know what is needed to form a US LLC as an non US resident and actually the company to be officially managed and controlled in the US since if it's not, local authorities will consider it as a non us business and tax it here in Greece. The reason that I need a US LLC is that taxes and bureaucracy here in Greece are just ridiculous

I would really appreciate it if someone can help me or if he can tell me where I could ask to get specific answers...

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Luke McCormack

12 years ago

Originally Posted by kochtgr

Does anyone know what is needed to form a US LLC as an non US resident and actually the company to be officially managed and controlled in the US since if it's not, local authorities will consider it as a non us business and tax it here in Greece. The reason that I need a US LLC is that taxes and bureaucracy here in Greece are just ridiculous

I would really appreciate it if someone can help me or if he can tell me where I could ask to get specific answers...

Kochtgr,

Please see my advice above.

Is there any particular reason for US LLC? Get some advice on Seychelles, Mauritius, Hong Kong, Gibraltar and BVI corporates. Also as Greece is still part of EU, get advice on incorporation in the Republic of Ireland and look into double taxation treaties.

The problem always is with remittance of money back to domicile country. A lot of people believe that they can just keep the profits in the corporate and not pay dividends to the shareholders. Most countries have stringent anti-avoidance measures for this scenario and tax you on global income.

An option to deal with the dividend problem is to be an employee of the offshore co (and pay personal income tax on whatever minimal salary you require) and have the "dealing/holding of real estate" as a company objective, you can then invest the profits in real estate thus bringing your profits and therefore dividend down to zero.

But please tread carefully and get proper advice.

To put it in perspective I know a lot about this subject but still paid a tax accountant $15,000 for an opinion letter/structure for piece of mind.

Best regards

Luke

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kochtgr

12 years ago

Originally Posted by Luke McCormack

Kochtgr,

Please see my advice above.

Is there any particular reason for US LLC? Get some advice on Seychelles, Mauritius, Hong Kong, Gibraltar and BVI corporates. Also as Greece is still part of EU, get advice on incorporation in the Republic of Ireland and look into double taxation treaties.

The problem always is with remittance of money back to domicile country. A lot of people believe that they can just keep the profits in the corporate and not pay dividends to the shareholders. Most countries have stringent anti-avoidance measures for this scenario and tax you on global income.

An option to deal with the dividend problem is to be an employee of the offshore co (and pay personal income tax on whatever minimal salary you require) and have the "dealing/holding of real estate" as a company objective, you can then invest the profits in real estate thus bringing your profits and therefore dividend down to zero.

But please tread carefully and get proper advice.

To put it in perspective I know a lot about this subject but still paid a tax accountant $15,000 for an opinion letter/structure for piece of mind.

Best regards

Luke

Hi Luke, thanks for your answer, the reason that I need a us LLC or a uk LTD is that bureaucracy here is just ridiculous and it makes it almost imbossible to have a profitable online business on the long run, about the countries that you mentioned they are somehow blacklisted as tax paradises and I would have many problems in getting the profits in Greece, additionally most of my clients are from US so it's a matter of trust too.

I don't know about Ireland (I know that they have very low taxes) but I would prefer US since I would not have to deal with VAT and things like that.

Now the real problem is that in order to be able to state my income from dividents or pay my self as an employee I will have to state the source (my company) and there are many possibilities that authorities here will treat my US LLC as a greek one and tax it here unless it is managed and contolled there.

So the question is what is needed (in the lowest cost) in order this US LLC to be officially managed and controlled in the USA?

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Luke McCormack

12 years ago

Tread very carefully here and take solid tax advice. Forming an LLC in a foreign jurisdiction may seem like a convenient and efficient way to "avoid" (and I use that very loosely) tax in your domicile country.

You should study double taxation treaties with Australia (i.e. where credit can be given for corporation tax paid by a corporate in a country with which Australia has signed such a treaty) and also form a strategy on how you are going to remit the income generated back to you domicile country (Australia, in your case).

Justice cannot be done to this topic in a post. Feel free to drop me a PM and I can point you in the right direction, but my main advice would be to steer clear of online incorporation companies and get yourself down your local lawyers office and/or tax accountant.

No one jurisdiction is the same but on your brief facts there would be absolutely no point in incorporating a Nevada LLC.

All the best

Luke

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Green Moon

12 years ago

You can form your own Nevada LLC for $75:

Nevada Limited Liability Company :: LLC Center

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Forming an LLC

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