New York Company Formation

New York Company Formation

New York

New York is in north east America, bordered by New Jersey, Pennsylvania, Connecticut, Massachusetts and Vermont. It has a maritime border with Rhode Island and Long Island and an international border with Canada. It is often referred to as “the big apple”. It is the most populated city in America. It is the leading centre of the financial services sector and the home of the New York Stock Exchange.

  • TYPE OF COMPANY: LLC
  • COMPANY LAW: Common
  • SUFFIX TO DENOTE LIMITED LIABILITY: LLC
  • MEMBERS: Minimum one of any residency or nationality – we can provide
  • SECRETARY: Not required
  • CAPITAL REQUIREMENTS: None
  • OWNERSHIP: 100% Foreign ownership allowed
  • TIME TO INCORPORATE: 24 hours
  • REGISTERED OFFICE: Required in New York – we can provide
  • ANNUAL RETURN: No
  • ACCOUNTS: Yes
  • DISCLOSURE: No
  • TAXATION: No
  • GOVERNMENT LICENCE FEE: Annual Filing Fee
  • DOUBLE TAXATION TREATIES: None
  • LANGUAGE OF DOCUMENTATION: English

If you would like further information on setting up a company in New York or the formation of a New York company or other New York corporate entities or require professional advice relating to taxation or the structuring and requirements of a New York company, please contact us. We can also provide advice on establishing a subsidiary, joint venture or foreign company to carry on business in New York.

We can provide a wide range of support and administration services, bank introductions, nominee directors, nominee shareholders, virtual offices, accountancy and legal services. We can also advise on compliance with all the regulatory and statutory requirements.

****** Please see the table of requirements for the various types of entities below – for further information please contact our offices******

C Corporations S Corporations LLCs & LLPs General Partnerships
Liability of Owners Limited, even if shareholders participate in management. Same as “C” Corporation. Limited, even if members participate in management Unlimited for general partners; limited for limited partners who do not participate in management.
Number of Owners No maximum Maximum – 100 (as of 2005) No maximum, usually at least 2 No maximum, minimum of 2
Profit/Loss and distributions Special allocations permitted separate classes of stock No special allocations permitted Special allocations permitted Special allocations permitted
Transferability of interests No restrictions No restrictions, but must be eligible shareholder or “S” status terminates Restricted, typically requires approval of majority of members Generally restricted unless authorized by agreement
Federal income taxes Maximum 35% on Corporation, plus tax on dividends to shareholders No corporate tax unless previously a C corporation None at LLC or LLP level None at partnership level
Continuity of life Unlimited Unlimited Limited Limited
Double taxation? Yes Rarely No No
Tax forms required Form 1120 Form 1120S Form 1065 Form 1065