What is a Certificate of Good Standing?
A certificate of good standing certifies that a company is properly registered with the state, is up to date on all state registration fees and required document filings, and is legally permitted to engage in business activities in the state. In some states, it is called a certificate of status or certificate of existence.
How to Obtain a Certificate of Good Standing
You can get a Washington D.C. certificate of good standing by remaining compliant with district regulations and ordering a certificate online. In Washington D.C., ordering a certificate of good standing costs $50. Because many banks and insurance companies will want a business’s certificate of good standing in order to do business, we recommend getting one as soon as possible.
Importance of a Certificate of Good Standing
A certificate of good standing is official certification from the state that a company is legally registered and following all rules. It shows lenders, investors, or partners that a company is trustworthy and credible, helping it expand. Lenders often require this certificate before financing.
Obtaining a Certificate of Good Standing
Eligible structures include corporations and LLCs. Get it through the Secretary of State. Visit their site, register an account, complete the application, and pay the $50 fee. Receive it in a few days or pay more for expedited processing.
Cost and Validity
Total cost for a District of Columbia Good Standing Certificate depends on the type of company and how fast you need the Certificate. The expiration date may coincide with renewal deadlines. Banks want certificates dated within 60 days. It shows lenders a company complies with regulations and is in good standing with authorities.