Incorporation in Florida in 5 Steps
Given the recent financially tumultuous times, more and more individuals are now looking around for locations to set up a business. However, with options like Orlando in Florida, you don’t need to look any further. Incorporation in Florida is a wise option and the number of Limited Liability Companies that have emerged in the city only recently shows the potential market that exists there for entrepreneurs.
It has also opened up several opportunities as setting up incorporation in the city is fairly easy and can be accomplished with minimal fuss. There are no restrictions in terms of minimum amount of capital and given the easy financing options that are available, Incorporation in Florida is one choice no one regrets making.
If you are someone new to the business landscape and have no prior experience of setting up a business, you have come to just the right place. Outlined below are the five steps crucial to Incorporation in Florida. Are you ready to find out what these steps are? Are you willing to make sure you do not leave out any important details? If yes, start reading right away.
- As the first step, you have to choose a company name and to make sure it is available. The Florida Statue keeps track of all company names. Ensuring that your chosen company name isn’t already registered will help you avoid legal issues that may arise in future. Just make sure your company name includes the LLC identifier or corporate such as corporation or incorporated. An important point to bear in mind is that the company name shouldn’t include language that implies its connection with government agencies or other subsidiaries thereof.
- Once availability of the company name is confirmed, the next step is making sure you have correctly submitted all the relevant documents to the Florida State Division of Corporations. You are required to submit articles of incorporation for corporations and articles of organization in case you plan to set up an LLC.
- Next, hold a meeting to determine the percentage of ownership each shareholder will be entitled to. In addition, you are required to open bank accounts in the company’s name, select ‘S’ corporation status, etc.
- As an employer, it will be your responsibility to get a Federal Employer Identification Number. You will need it to open your company bank account as well.
- Last but not the least, the most important step is to get a license of operation for the city or country you are operating in. In case you are operating at more than one location, you will be required by law to obtain a license for each of the locations separately. In case you want to do business in another city under a different name, you will have to submit a DBA which is a ‘Doing Business As’ document. This document will not only allow you to open an account, you will also be able to accept payments without any hassles.
Bottom-line, when you are incorporation in Florida, make sure you remember the steps listed above.
If you need more information about our business development services, please contact us at 407-344-1228. FreedomSBS is a marketing, graphic & web design, accounting, internet marketing, business development, and corporate law resource firm all in one! FreedomSBS is your one stop shop to start, grow and mature your business. Our services include: incorporation services, graphic design, logo design, web design, web development, internet marketing, search engine optimization (SEO), marketing consultations and corporate law resources. Our services are provided nationwide, but since our main office is located in Kissimmee, FL, we mainly help businesses in the Central Florida market to areas like Orlando, South Orlando, Kissimmee, St. Cloud, Poinciana, and Hunters Creek, FL.