An added advantage is, of course, the uncomplicated registration process implemented in this state.
Aiming to attract more businesses to boost its economic standing, the “Volunteer State” has expediently provided for an easy procedure for registration of foreign companies. But what exactly are required from a non-domestic LLC?
1. The necessary and basic LLC information.
The required facts to be provided are as follows: the name of the LLC, the state where it was established and when it was formed, and a certificate of authority coming from its home state. Such certificate serves as proof that the business entity is authorized to do business in its own domestic state, so compliance with this requirement is indispensable.
Also, the information must contain the registered agent’s name and address as required for every domestic and foreign LLC. Furthermore, it must include the main office address of the company and the names and addresses of its officers and members.
2. Certificate of Good Standing from the home state.
Aside from the Certificate of Authority, the office of the Secretary of State also requires that a foreign LLC present a Certificate of Good Standing as provided by the domestic state. This is to assure that the business does not have any pending disputes under its name or is not a risk to the business or economic industry of Tennessee.
3. Payment of qualification fees.
A filing fee of $600.00 is required for foreign LLCs that wish to operate business in the state. A $50 per member fee should also be paid, with a maximum rate of $3,000 and a minimum rate of $300. The membership fee is the same with that charged to domestic LLCs.
4. Mandatory appointment of a registered agent.
Just like its requirement for domestic LLCs, foreign LLCs must also have its own registered agent for legal purposes. The registered agent may either be an individual or a business, provided, that such business has its own physical Tennessee mailing address.
5. Filing with the…