Fiscal Services Limited

Delaware

Delaware is the best known of the United States onshore tax havens. The United States has numerous double taxation treaties.

In common with many other tax havens there are restrictions on a company's title. The words bank, trust, insurance, university or college require approval. Also, the words finance and fiduciary are subject to additional approvals.

Whilst some shelf companies are available it is more economical to incorporate a company to the client's own choice of name. It generally only takes one working day to incorporate a company.

The name of the company must contain an appropriate ending word such as company, incorporated, corporation, limited, limited liability company or L.L.C

Depending upon the structure, the company must have at least one Shareholder, one Director and a Company Secretary. In addition to a Company Secretary, a company must have a President and a Treasurer. Corporate Secretaries are not permitted under the Delaware legislation. Shares of no par value may be issued but bearer shares are not permitted.

An ordinary company does have limited liability but, in theory, is subject to US federal taxes in addition to the $100 franchise tax. A Limited Liability Company is normally incorporated for a period of thirty years. It does have exemption from US federal taxes but pays a higher franchise tax of $200 per annum.

The United States does impose a limited exchange control in that the law requires that anyone taking more than US$10,000 into or out of the United States must report this fact to the United States customs authorities.

Our fees do not include the annual franchise taxes due in March or June respectively, which are dependent upon the number of shares authorised or the value of the Company's assets. The usual authorised share capital, which permits the company to pay the minimum annual franchise tax, is 1,500 authorised shares of no par value.

Standard Fees

Fees will be quoted on application.

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