Choosing Where to Form My Business?

We live in Florida, we work in Florida and, if you are considering owning a business, why not form your business in Florida?

For most this makes logical and practical sense. But when opening a new business, you should think of both your business’ long-term and short term goals. Your long term goals may end up driving your decision to form your business in another state or country, and operate in Florida.

For example, forming a business outside of Florida may have considerable legal advantages.

1. Affording owners a greater level of anonymity from solicitors and other trivial matters that interfere with the business;
2. Providing a clear pathway to forming a publicly traded company;
3. Establishing a preferred location to raise private equity;
4. Advantageous tax planning for non-United States Citizens.

These are just some of those benefits of incorporating in another state.

These long term decisions should not be made without discussing matters with an attorney. It could be very costly and cumbersome to relocate your business, for legal purposes, once established for several years. If you are forming, or recently formed, a business have these questions, contact an attorney who may be able to offer a legal opinion on where your should form your business.

Call Bennett Law today for a consultation.

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