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New Business


First, it is important to determine the state in which the client will form their business. All corporations regardless of the state where they are incorporated could operate in any other state after obtaining a permit to conduct business in the state where you prefer.
All corporations must submit an annual report to keep the company active.
Basically, there are several types of legal entities, the most used are the Corporation (Corp., Inc., Etc.) and the Limited Liability Company (LLC), and both offer protection against third party claims and litigation.

• Corporations:
The most common way of doing business is through the formation of a corporation. The main characteristic of a corporation is that the corp. is considered a separate entity from its owners (“the shareholders”), and the shareholders are generally not personally responsible for the liabilities of the corporation.
A corporation may be owned by a single owner, which can be a foreign business entity or a foreign person.

• Limited Liability Companies:
In the limited liability company (LLC), unlike the corporation, each member contributes in exchange for its membership, and shall be liable for debts and obligations of the LLC only by the percentage of its contribution, as well as its economic loss will be limited the percentage of capital invested in the LLC.