Categories: Advice

Oh, The Places Your Business Will Go!

Most business owners start their businesses with the hope that they will expand into other cities, states, and maybe even countries.  This business growth is excellent for the economy, excellent for the business owner (is anyone against success?), and great for customers who want options closer to where they are.  But moving a business into other areas can mean increased documentation and preparation on the part of the business owner.

For those who are looking to take their business to another state, it may be necessary to file a Foreign Qualification in the state where you are looking to expand.  This gives a business that is incorporated or organized in one state, the authority to operate in another state.  A company is considered a domestic entity only in the state where it was formed, and then must obtain Foreign Qualification in other states where it does business.  For example, Jorge decides to start a web-based company that sells video games.  He forms a corporation in Nevada because of the tax benefits and beneficial corporate laws even though his operations are based out of California.  Since he is operating his business out of California, but his business is incorporated in Nevada, Jorge will need to get a Foreign Qualification for the state of California.

There are also businesses that are looking to expand their operations to a foreign country.  In order to do this, the corporation will need to obtain an Apostille for the country where they wish to conduct business. An Apostille allows another country to recognize your corporation’s charter for international banking and registration purposes.  An Apostille can be used for other documents as well such as birth certificates, wills, and passports.  For example, let’s say Jorge’s business is doing very well in the US and he is eager to start selling in the UK.  For Jorge to start selling in the UK and to have his finances set up there, he gets an Apostille for his corporate charter and other documents so they will be recognized there.

Growth and expansion into other areas is the goal of most business owners.  In order to make sure you can take your business to the next place, please contact MyCorporation today about getting a Foreign Qualification or Apostille for your business.  Don’t forget to ask about our compliance product MyIncGuard that will help to keep you current and in good standing with the state.

Deborah Sweeney

Deborah Sweeney is an advocate for protecting personal and business assets for business owners and entrepreneurs. With extensive experience in the field of corporate and intellectual property law, Deborah provides insightful commentary on the benefits of incorporation and trademark registration. Education: Deborah received her Juris Doctor and Master of Business Administration degrees from Pepperdine University, and has served as an adjunct professor at the University of West Los Angeles and San Fernando School of Law in corporate and intellectual property law. Experience: After becoming a partner at LA-based law firm, Michel & Robinson, she became an in-house attorney for MyCorporation, formerly a division in Intuit. She took the company private in 2009 and after 10 years of entrepreneurship sold the company to Deluxe Corporation. Deborah is also well-recognized for her written work online as a contributing writer with some of the top business and entrepreneurial blogging sites including Forbes, Business Insider, SCORE, and Fox Business, among others. Fun facts/Other pursuits: Originally from Southern California, Deborah enjoys spending time with her husband and two sons, Benjamin and Christopher, and practicing Pilates. Deborah believes in the importance of family and credits the entrepreneurial business model for giving her the flexibility to enjoy both a career and motherhood. Deborah, and MyCorporation, have previously been honored by the San Fernando Valley Business Journal’s List of the Valley’s Largest Women-Owned Businesses in 2012. MyCorporation received the Stevie Award for Best Women-Owned Business in 2011.

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