You’ve been operating a successful company for some time, and you’re looking to relocate. After conducting your market research, you feel Florida offers the perfect location.
Relocating a business can be complex, and there are rules and regulations that you must adhere to. Below are some of the main options to consider.
Operate as a foreign entity
Any business established outside of Florida is typically considered a foreign entity. This does not prevent the business from trading in the state, but there are some protocols to follow. You must register your company as a foreign entity by completing the appropriate paperwork. Many business owners find this approach advantageous because the process is usually quick.
Domesticate the business
If you’ve decided that Florida is where you want to be based, it is possible to move your headquarters to the state. You’ll have to carry out three procedures to do this. First, you must obtain a certificate of good standing from the state you currently trade from. Next, you must file a certificate of domestication and Articles of Incorporation with the Florida Division of Corporations. Finally, you must complete the legal process of dissolving your company in the state you are moving from.
Form a new company
Sometimes it may be simpler to start afresh by dissolving the old company and forming a new one in the state you want to work out of. It can free you from debt and other problems associated with the old company.
Trading in Florida can be highly beneficial. We help businesses looking to relocate to our state. Schedule a consultation to learn more.