New York

Forming a Company in New York

New York is a strong jurisdiction to do a business locally, nationally or worldwide. It is the third most populous state, with a long history of companies doing business in the U.S. and internationally, with some of the world's largest corporations having their headquarters located over here. Given its commercial-focused background, the courts and judges are well aware of business issues of all sizes and a long history of case law makes doing business and incorporating in New York more predictable for entrepreneurs and business operators.

Forming a company in New York has slightly more prestige in the national and international business communities than many other states, given that from a business standpoint, New York is often referred to as the capital of the world. The economy of New York City is one of the largest regional economies in the United States. The city is a global center for business and commerce. It is one of the leading financial cities of the world and a premier headquarters location for leading global financial services companies

New York City is a global hub of international business and commerce and is one of three "command centers" for the world economy (along with London and Tokyo). As the North American terminus of the transatlantic fiber optic trunk line, New York has extremely high internet connectivity and is the leading international internet gateway in the United States making it the most demanded location for business formation.

Medical services and research drive New York's major healthcare industry. The city has the most post-graduate life sciences degrees awarded annually in the United States, 40,000 licensed physicians, and 127 Nobel laureates with roots in local institutions.

Creative industries such as new media, advertising, fashion, design and architecture account for a growing share of employment, with New York City possessing a strong competitive advantage in these industries. High-tech industries like bioscience, software development, game design, and Internet services are also growing, bolstered by the city's position at the terminus of several transatlantic fiber optic trunk lines. The food-processing industry is the most stable major manufacturing sector in the city.

With the world's eleventh largest economy, New York state is headquarters for scores of companies and a place where businesses of all sizes can tap a diversely talented and experienced workforce along with other resources available in many communities.

New York's pro-business environment and highly competitive economic incentives make it the ideal location for your company formation.

There are several reasons to form a business in New York:

Protection from personal liability for business debts.

Perpetual existence, so the corporation continues even if an owner dies or leaves the business.

No limit to the number of C Corporation shareholders, who need not be U.S. citizens or permanent residents.

The New York State Department of labor helps business to upgrade the skills of new and existing workers through workforce training grants. Funds are available for either on-line, classroom or OJT training. This assistance helps develop career paths within organization while decreasing employee turnover.

A compelling array of benefits is available to your business, such as privacy, tax savings, convenience, and flexibility. Privacy advantages include:

Company ownership & transfers need not be disclosed to the State of New York.

New York does not maintain public records of ownership.

The reporting and disclosure obligations imposed by the State of New York are minimal.

Similarly asset protection and taxation advantages in New York include:

Owners of New York LLCs and corporations receive limited liability protection.

Owners' assets cannot be seized as a result of LLC or corporate liabilities.

Due to the privacy protection offered by New York, it is more difficult for attorneys to track business owners and owners' assets.

Dividends and profits are taxed at a lower rate & are not subject to FICA.

Income shifting between personal and corporate income can result in lower taxes.

Corporations and LLCs are audited less frequently in New York.

Other flexibility advantages in company formation include:

New York allows individual to act as the shareholder and director and to hold all the executive offices.

Aside from a registered agent address, owners are not required to maintain a physical address within the New York state.

Stocks can be transferred instantly and privately, without filing a public notice.

No need of US citizenship to form a regular New York 'C corporation' or LLC.

New York LLCs and corporations offer generous protection (indemnity) from personal liability.

New York LLCs and corporations can be formed without the hassle of traveling to the New York Department of State office by using an online incorporator like Elite Incorporation.

Overall, forming a company in New York makes very good sense balancing start-up costs with the longer-term benefits.

New York's remarkable business location and favorable corporate laws help you and your business formation. You can make it there in New York and Elite Incorporation is glad to help you get started by forming your corporate entity.

Useful Link

Home Page
http://www.nyc.gov/

Division of Corporations
http://www.dos.state.ny.us/corp/llcguide.html

New York Secretary of State
http://www.dos.state.ny.us/

New York Stock Exchange
http://www.nyse.com/

New York State
http://www.state.ny.us/

Why Choose Us to Form Your Company

Best-in-class Service -- our focus is you, your company and your vision. We're not a call center with operators taking orders. We're a family-owned business of trained corporate professionals supporting your vision and partnering with you to obtain the entities you need for your business.

Over 30 years Experience as Sophisticated, Corporate Professionals -- our staff is highly experienced, seasoned executives. We're not providing legal advice here, and yet most of us have advanced graduate degrees, including law degrees and some of us have even practiced as corporate lawyers and still do with our affiliated law firm.

We Know Corporate Entities -- we're in this business because we've been forming and using corporate entities our entire careers. Whether it's LLCs in New York, S-corporations in California or offshore companies in Cyprus or BVI, we know the regulations, procedures and the people.

Price -- we add value for good value! We're not always the cheapest option (though we usually are!), but we're inexpensive for the experience and total support we provide and will always keep our fees reasonable to encourage referrals and repeat customers.

Total Fulfillment -- we're here to help you and will share what we know...and we're just about as good of a resource as you can get for guidance on forming your entity, the process of starting your business, and obtaining the proper advice in the U.S. and abroad.