American Samoa revolutionized the LLC registration processJune 10, 2022
Starting an LLC in American Samoa
DALLAS, TEXAS, UNITED STATES, June 3, 2022 /EINPresswire.com/ — American Samoa is becoming a sought-after location for (Limited Liability Company or Corporation) LLC registration like Delaware and Wyoming. The LLC registration process in American Samoa is simple and faster and offers multiple benefits to businesses. To add to their offerings, they have launched their LLC Online Portal to aid enterprises in saving time and money.
How does the portal work?
The process of LLC setup requires extensive research, paperwork filing, understanding of the laws, ultimately consuming more time and capital at times; despite efforts, the results are not always as expected and can cost your company. In addition, finding the right agent for registration is more challenging, and despite the agents outlining the entire process, it can be overwhelming. The LLC online portal by American Samoa notes these issues and provides effective solutions.
Expressing views on the new LLC portal, a spokesperson for the American Samoa LLC portal said, “We are looking forward to making LLC registrations for startups more accessible, convenient, and affordable. Users can come from all over the world and get registered as a business here and enjoy benefits like asset protection and tax savings.”
Starting an LLC online portal by American Samoa
● registered agent
A Limited Liability Company needs to appoint an agent who will be in charge of the service, legal process on the company’s behalf. At times finding the right agent can burn holes in your pocket. The new LLC portal offers you the option to be your own registered agent.
● Open to U.S. & Non-US Citizens
American Samoa considers U.S. and non-U.S. citizens as Samoan citizens. Hence, anyone can register their LLC in American Samoa.
● Owner confidentiality
Businesses can keep their identity anonymous as the law only reveals the registered business agent’s identity.
● Personal Asset Protection
LLC registration in American Samoa offers a legal structure that protects the company’s assets. During legal disputes, these laws protect the business from bankruptcy, personal assets of the business owners, bank and retirement accounts, and other personal assets like homes and cars. This applies to multiple members of the LLC.
● No State Taxes and other tax benefits
LLCs formed in this unincorporated U.S. territory do not have to file state tax returns.
It also eliminates the need of filing the following taxes-
● Personal income tax
● Admissions tax
● Gift tax or estate tax
● Corporate income tax
● Unitary tax
● Franchise or inventory tax on income
Although, companies need to comply with state-specific requirements depending on the LLC’s legal and financial standings.
The new LLC registration portal will make American Samoa a preferred location for Starting a LLC.
LLC registration in the unincorporated U.S. territory of American Samoa offers multiple perks. The government aims to introduce more benefits in the upcoming years. With such lucrative prospects, the territory seeks to become the sought-after location for LLC registration.
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Article originally published on www.einpresswire.com as American Samoa revolutionized the LLC registration process