A corporation or other entity formed in a jurisdiction outside of Nevada, or outside of the United States, may be converted into a Nevada entity through the filing of Articles of Domestication with the Nevada Secretary of State. Once domesticated, the "new" Nevada entity enjoys all of the benefits of doing business in Nevada as if it had been formed in this state originally. The entity to be domesticated in Nevada must also appoint a registered agent for service of process in Nevada. While the domestication process is usually straightforward, it is important that the entity seeking domestication consult with its business lawyers and greater business advising team through the process. Questions of compliance with foreign law and internal governing documents come into play through the domestication process. Finally, the principals of the entity to be domesticated must also be aware of continuing liabilities for any obligations of the entity prior to domestication.
Global Business Lawyers routinely assist non-Nevada and non-U.S. entities relocate their corporate domiciles to Nevada. Global Business Lawyers' international team of advisors and professionals are also brought in to assist with questions of foreign law compliance when necessary. It is not necessary to form a completely new entity in Nevada, or a subsidiary, if it is more beneficial for the specific business to simply relocate its corporate domicile.
Disclaimer: This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. If you have questions or need specific advice relating to the matters contained herein, please contact Lovaas & Lehtinen, P.C.
No comments:
Post a Comment