(7 Simple Steps)
First, let’s make sure the name you’d like for your brand is available and likely to be accepted or approved by the state. It should be unique and without restricted wording. To check, conduct a Name Availability Search through the state, and if there may be trademark issues use the TESS System through the U.S. Patent Office.
Also, keep in mind your name should contain the words Corporation’, ‘Company’, ‘Association’, ‘Incorporated’, ‘Foundation’, ‘Club’, ‘Union’, ‘Society’, ‘Limited’, or ‘Syndicate’. Abbreviations of the words listed are also acceptable. If needed, you can also have the Name Reserved for 120 days.
Filing Fee: $75
Your Delaware Registered Agent is your intermediary, a representative of your company who accepts and helps handle/process all official documents like state filings, tax forms, legal notices, and so forth. Whether they’re an individual or a registered business entity they must have a physical DE address and be available during all regular business hours.
So basically, you can choose to hire an outside third-party professional and expect to pay up to $160/year, or get a qualified/dedicated agent free of charge for a year when you incorporate with IncFile or CorpNet.
For your brand to be recognized as a legal corporate entity, a Certificate of Incorporation must be properly filled out, signed, notarized and filed with the Secretary of State of Delaware. Important information such as the Corporation’s name and address, corporate purpose, complete name and street address of the Registered Agent, and other pertinent information is required for the public record.
You can file this form online or through mail. The standard filing fee is $89. However, you need to pay $9 for every additional page.
Think of this as the hard copy record book where all critical corporate documents are kept like the Articles of Incorporation, Bylaws, meeting minutes, stock certificate ledger, stock certificates, stock certificate stubs, stock transfer documents, etc. It’s the ultimate company binder! They’re very common and while not necessary having one is highly recommended for all serious business entities.
Appoint at least 1 director who among other things will oversee the Delaware corporation until the first shareholder meeting where new directors will be voted in. Prepare an “Incorporator Statement” with complete names and addresses of each director and keep it in your records book. Once elected, an initial meeting should:
Ideally this subject was discussed in your initial meeting. And listen, if it needs to be tackled for a little bit that’s fine because where you choose to set up your corporation’s financial foundation is critical. It’s not a choice to take lightly, especially if you don’t have a CFO aboard yet.
Fees and interest rates matter. Overall business services, location and availability matters. There are local, state, and national banks as well as credit unions and online-only banks to consider. Once chosen, ensure the accounts have strict access control and aren’t mixed with accounts of any other kind for tidy numbers-keeping.
Because forming a corporation in Delaware is so popular, their regulatory environment isn’t as complex as other states. However, be sure to do your homework on this step and adhere to your tax and licensing requirements.