The principal forms of business organization in Delaware are:
One of the most popular and common forms is a limited liability company.
A limited liability company (LLC) is a relatively new type of hybrid business structure authorized in most states in the USA. Such organizational structure has the advantage of limited liability, like a corporation, as well as tax efficiency and operational flexibility, like a partnership.
The owners of the company are called its members. The duration of an LLC is usually set out by its members in the registration documents and can subsequently be prolonged. Members can be both legal entities and individuals, there are no residence requirements, the minimum number of members is 1 (one). There is no minimum authorized capital.
1. Must contain the words Limited Liability Company or the abbreviation L.L.C. or the designation LLC;
2. Must be different from the names of existing companies;
3. Must not contain the following words: board of trade, state police, chamber of commerce, state trooper, community renewal, tenant relocation, corporation, urban development, incorporated, urban relocation, partnership;
4. Must not contain the following words or their abbreviations: acceptance, guaranty, annuity, indemnity, assurance, insurance, attorney, investment, bank, lawyer, benefit, loan, bond, mortgage, casualty, savings, doctor, surety, endowment, title, fidelity, trust, finance, underwriter; unless the articles of organization are accompanied by approval from the state’s Banking Department or Insurance Department or unless the words doctor or lawyer or the abbreviation is used in a context that means the goal, and not legal or medical practice;
5. Must not contain the words blind or handicapped unless the articles of organization are accompanied by approval from the state’s Department of Social Services. Such approval is issued by the Department of Social Services if it believes that the words blind or handicapped used in the name of a limited liability company do not mislead the public into thinking that the company was created for charitable or non-commercial purposes related to blind or disabled people;
6. Must not contain the word exchange or its abbreviation unless the articles of organization are accompanied by approval from the Attorney General. Such approval will not be issued by the Attorney General if he believes that the use of the word exchange in the name of a limited liability company would imply that the company is engaged in business where brokers, dealers or traders trade in securities or commodities;
7. Must not contain the following terms: school, education, elementary, secondary, kindergarten, prekindergarten, preschool, nursery school, museum, history, historical, historical society, arboretum, library, college, university or other terms prohibited by Sec. 224 of the Education Act; conservatory, academy or institute or any prohibited abbreviations or derivatives of these terms that require the consent of the commissioner for education.
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Services
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Fees (USD)
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Total cost of LLC incorporation (including preparation and provision of original constituent documents of the company and apostilled copies of such documents, documents issuing shares)
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2 190
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Subsequent annual maintenance (starting from the second year), including provision of registered office, but not including Compliance fee
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1 800
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Tax registration
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650
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Preparing financial statements and audit
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Audit fees will depend on the activities and volume of operations of the company, i.e. on the time spent by the auditor on processing the documents.
Calculated at a rate of USD 200-400 / hour (depending on the qualifications of the specialist involved) |
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Compliance fee
Payable in the cases of: - incorporation of a company, - renewal of a company, - liquidation of a company, - transfer out of a company, - issue of a power of attorney to a new attorney, - change of director / shareholder / beneficial owner, except the change to a nominee director / shareholder, - signing of documents. |
350 (standard rate – includes the check of 1 individual)
+ 150 for each additional individual (director, shareholder, or beneficial owner) or legal entity (director or shareholder) if such legal entity is administered by GSL + 200 for each additional legal entity (director or shareholder) if such legal entity is not administered by GSL 450 (rate for High Risk companies, including the check of 1 individual) 100 (signing of documents) |
*The fees are valid as of April 2025.