Summary of Features of Delaware Limited Liability Company (LLC)


General Information
Company Law Delaware Limited Liability Company Act
Type of Company Limited Liability Company (LLC)
Language of Legislation and Corporate Documents English
Taxation of Foreign Profits Nil (for single member LLC with no U.S. shareholders)
Exchange Controls None
Length of Time to Form a LLC 3 weeks (expedite service is available)
Shelf Companies Available Yes
Corporate Names
Name Restrictions Names identical or similar, offensive words
Endings and Abbreviations Required Limited Liability Company or its abbreviation LLC
Length of Time to Verify Name Availability few minutes
Reservation of Names Permitted Yes
Language of Name Any language
Name of Banks, Insurance, Investment Fund, Trust Company or their equivalents requiring consent or license Yes, especially those
Capital and Members
Minimum Number of Members One
Local Members Required No
Corporate Members Permitted Yes
Disclosure of Members No
Minimum Authorised Capital Required No minimum
Bearer Shares Permitted N/A
Registered Shares Permitted Yes
No Par Value Shares Permitted Yes
Minimum Number of Managers One
Qualifications of Directors Legal Age
Corporate Managers Permitted Yes
Local Directors/Officers Permitted Yes
Appointment of Subsequent Managers LLC Agreement
Annual General Meeting of Shareholders Required No
Annual General Meeting of Manager s Required No
Location of Directors and Shareholders Meetings Anywhere
Adoption by Consent Permitted Yes
Quorum required for purposes of meetings LLC Agreement
Local Requirements
Qualified Registered Office/Agent Yes / Yes
Government Register of Shareholders Optional
Government Register of Directors/Officers Optional
Government Register of Charges Optional
Register of Directors/Officers to be kept at Registered Office Yes
Company Seal Required Optional
Copy of Minutes to be kept at Registered Office Optional
Copy of Share Register to be kept at Registered Office Yes
Annual Requirements
Minimum Annual License Fee or Franchise Tax $200
Annual License Fee or Franchise Tax Due Date June 1st
Applicable Surcharges 1.5 % per month
Requirement to File Annual Returns No
Requirement to Submit Annual Audited Accounts No
Other Relevant Information
Member of Apostille of the Hague Convention Yes
Increase or Reduction of Capital Managers ¡¦ resolution
Redomiciliation Prohibited No
Reinstatement at the offices of the Secretary of State Yes
Removal from Secretary of State offices Compulsory or voluntary winding up and dissolution; and cancelation of the certificate of formation for non-payment