How to Domesticate Your LLC in Virginia
To domesticate your LLC in Virginia, first make sure that the state or jurisdiction where your LLC was formed supports the domestication process. Luckily, this is the case for you—Georgia supports conversion under GA Code § 14-11-906. Then, file Articles of Domestication with the Virginia State Corporation Commission. On this form, you’ll need to include:
- Legal name of your LLC.
- Name your LLC will use in Virginia.
LLC Domestication in Virginia
LLC domestication in Virginia means changing the location or domicile of your LLC from any state into Virginia. In other words, if you want to move your Georgia LLC to Virginia, for instance, LLC domestication is the best way to do so.
Steps for Domesticating Your LLC in Virginia
The procedure of domesticating your entity in Virginia involves two steps:
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Filing Articles of Domestication and Articles of Incorporation (Organization) with the Virginia State Corporation Commission.
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Filing dissolution in the home state (or having the entity “domesticated out”, depending on the state).
Forming a Virginia LLC
LLCs benefit from pass-through taxation and flexible corporate structure, making them a popular choice for small business. Forming an LLC in Virginia is a strategic move for entrepreneurs seeking personal asset protection and operational flexibility. How to Form a Virginia LLC?
- Choose the Type of Your Virginia LLC (Mandatory). When forming an LLC in Virginia, selecting the right type is crucial. Here are common structures along with their advantages and disadvantages:
- Single-Member LLC: Ideal for solo entrepreneurs, this type offers simplicity in management and decision-making.
LLC Domestication Process and Related Details
How Long Does It Take To Complete a Domestication or Conversion to the State of Florida? What Are the Costs Involved in Domesticating My Virginia LLC to the State of Florida? What Are Some of the Risks Associated With a Conversion Gone Wrong? Increase Your Chances of a Successful Conversion. What Are the Benefits of Converting My Virginia LLC to a Florida LLC? What Are the Tax Implications of Converting My Virginia LLC to a Florida LLC?
Registering a DBA in Virginia
To make it even easier for you, the Commission’s website has a DBA certificate form you can download and simply fill in the blanks. To register a DBA in Virginia will cost you $10.
Changing Ownership of an LLC in Virginia
How do I change ownership of an LLC in Virginia?
How do I transfer ownership of an LLC in Virginia? Transferring LLC ownership in Virginia involves reviewing the operating agreement. This outlines procedures for transferring interests, like getting approval from members. After reviewing, file an amendment to the articles of organization with the state. This has details like the new ownership structure. Pay the $100 filing fee. The state typically processes amendments in 1-2 weeks. All owners must approve the transfer. The operating agreement outlines transfer requirements. If it doesn’t, follow state rules. Some states require forming a new LLC to transfer ownership. Removing a member also follows operating agreement and state laws. Check your state’s ownership transfer rules. Some need all owners to consent. If you want to avoid this, permit ownership changes without permission in the operating agreement. Carefully outline selling the LLC. This prevents issues with state regulations.