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Depending on the types of licence you require, you normally need to provide your legal entity document, shareholder/director information, business plan, and some others such as finance statement audit, rental office agreement etc. Rest assured we will support you to do it all.
Generally, there is no need for any business license when forming an LLC. However, depending on the state and the industry in question, an LLC will need appropriate business licenses when operating. There are many types of license, issued at different levels, from federal all the way down to local town hall. Some states have laws making general business licenses compulsory regardless of the company’s type of business.
In order to avoid any trouble regarding business licenses for your LLC, check with the state government office or consult a corporate service provider like One IBC® to have a list of all potential required business licenses.
Some industries require a federal license. In other words, if an LLC operates in any of these sectors, they need to apply with the federal government for their business licenses:
All businesses operating in Alaska must have a state business license. The Occupational Licensing Section of the Division of Corporations, Business & Professional Licensing handles this.
In California, there is no standard state business license. However, companies have to apply for local business licenses at the city's offices or city hall.
The Delaware Division of Revenue requires business licenses, even for companies doing business outside of the state. City and/or county business licenses are also compulsory as well.
Florida business license is applied at the Department of Business and Professional Regulations Application Center. Most counties in Florida also require business/occupational licenses or business tax receipts.
The Maryland Department of Business and Economic Development has a list of statewide business licenses and a list of any counties’ special licenses or permissions, very convenient to check if the company needs any license in this state.
In New York, there is no standard state business license, but there are some industry specific and/or local licenses.
There is no statewide business license in Texas. In most Texas cities, a local business license is not necessary as well. However, some industries require their own specific licenses.
A state business license is compulsory in Washington, processed by the Business Licensing Service. Local business licenses are required in Washington as well.
The business license number is located at the top of the business license certificate or it is usually corresponding with a certain other number issued by the government office during the application process. The business license number can also be looked up at the local business license office using said other number if the certificate is not available.
The type of business license number (also known as a company license number) depends on the city, county or state in question. Most companies, regardless of their size, must register for a business license number and apply for any additional necessary licenses. Some firms need to have a business license number ready before starting their business operation.
In some cases, simply having a tax identification number (such as the EIN) is sufficient. This depends on the type of business, as well as the location in which it is located and operates. Bear in mind, a tax identification number is not the same as the business license number because it is used solely for federal financial purposes.
Your company may need to obtain one or more types of business licenses and permits in order to legally operate in the country it is registered in. The types of business license will depend on the jurisdiction you reside in, products and/or services you're selling, your company structure, and the number of employees you have. Because there are too many different license and permit requirements in each country/jurisdiction, there is no universal way to know exactly what type you need for your business.
Here are some common types of business licenses and permits you should know:
Before starting a business, you must have wondered at some point, what types of businesses need a license? As required by government law, businesses must have at least one business license or permit issued by their local, county, or state government. The exact type of business license you need will depend on where you're operating, the products or services you're selling, and what your business structure is.
Here are some types of businesses that require a license that you need to know about:
You need a general license to run your business in almost any country and territory.
Businesses need a seller's license to be able to sell their products and services in-store or online. It is also possible to collect sales tax on any taxable goods.
A DBA license allows you to legally operate your business under a brand name other than the one you have registered with the government. In certain areas, this license is also known as a trade name license.
Many types of businesses such as restaurants, beauty salons, tattoo parlors must be inspected and considered for a health license. This license helps keep you and your customers safe.
You will need this license regardless of the type of business that serves alcohol, including bars, restaurants, event venues and more. You should also consult the laws and permits from the Alcohol and Tobacco Tax and Trade Bureau before starting to operate.
Certain types of companies as well as employees require a professional license before operating. Most of the companies that need this type of license operate in the service sector such as accounting, legal advice, infrastructure repair.
When you start a new offshore business, it is likely that you will have to apply for a business license and other necessary permits to run your company legally.
The industry and location you run your business will determine which types of license and permit you need. The license fee will vary accordingly. Because it takes time and resources to get a business license, it is important to find an expert to get the advice on what you need to get a business license.
For more information, please visit here to learn about steps and what you need to get a business license for your offshore company.
Almost all businesses will need some type of license, and many businesses will need to apply for several different types of permits. This depends largely on where you live and the type of industry you're in. Here are the licenses and permits needed to start a business that you should know.
Above is a brief list of licenses and permits needed to start a business, which we hope has provided the necessary information for you and your future business.
Licensed financial advisers are required to prepare and lodge with MAS a true and fair profit and loss account and a balance sheet made up to the last day of its financial year in accordance with the provisions of the Companies Act (Cap. 50), where applicable. The above documents are to be lodged together with an auditor‘s report in Form 17. In addition, they are required to submit Forms 14, 15, and 16, where applicable. These documents are to be lodged within 5 months, or within such extension of time as may be permitted by MAS, after the end of the financial adviser‘s financial year
The types of services provided by financial planners vary widely. Some planners assess every aspect of their clients' financial profile, including savings, investments, insurance, tax, retirement, and estate planning, and help them develop detailed strategies to meet their financial objectives. Others may call themselves financial planners, but only provide advice on a limited range of products and services.
MAS regulates all financial planning activities related to securities, futures, and insurance. Tax and estate planning activities do not come under our regulatory ambit. Hence, only financial planners who conduct activities regulated under the FAA are required to be licensed as a financial adviser. A financial planner may conduct other activities such as tax planning, but these are not subject to supervision by MAS.
Banks, merchant banks, finance companies, insurance companies, insurance brokers registered under the Insurance Act, holders of a capital markets services license under the Securities and Futures Act (Cap 289). are exempt from holding a financial adviser's license to act as a financial adviser in Singapore in respect of any financial advisory services. Nonetheless, exempt financial advisers and their appointed and provisional representatives are required to comply with the business conduct requirements stipulated in the FAA.
A "master fund" means a mutual fund incorporated or established in the Cayman Islands that holds the investments of and conducts trading activities on behalf of one or more regulated feeder funds. A "regulated feeder fund" means a CIMA regulated mutual fund that conducts more than 51% of its investing through another mutual fund.
The Cayman Islands anti-money laundering and countering terrorist financing (AML) regime requires mutual funds to maintain AML procedures as appropriate to the size of the fund.
The revised definition both clarifies the position for certain entity types and extends the scope of the PFL to additional entities. This clarification and extension may have changed the position for a number of entities, including but not limited to certain master funds, certain alternative investment vehicles and funds formed for a single investment.
The PF Law provides that private funds covered by the legislation must be registered by 7 August 2020. This applies both to private funds that were carrying on business on the date of the commencement of the PF Law (being 7 February 2020) and private funds that commence business within the six-month transitional period from 7 February 2020 to 7 August 2020. Private funds that launch on or after 7 August 2020 will need to comply with the registration timing requirements contained in the PF Law, as summarised below.
Under the Securities Investment Business (Financial Requirements and Standards) Regulations, Securities Investment Business licensees are required to have base financial resource requirements. In the case of broker-dealers, market makers, and securities managers, the base financial resource requirement is CI$100,000 and in the case of all other licensees, the requirement is CI$15,000.
All Securities Investment Businesses licensed under the Securities Investment Business Law (the “SIBL”) must have and maintain adequate insurance coverage. The licensee must have insurance to cover
Please refer to Authority’s Statement of Guidance – Professional Indemnity Insurance for Trust, Insurance, Mutual Fund Administrator, Securities Investment Business and Company Management Licensees and Directors for guidance.
Global Business (GB) is a framework available in Mauritius to a resident corporation which proposes to conduct business activities outside Mauritius. GB is regulated by the Financial Services Commission (the ‘FSC’) under Section 71(1) of the Financial Services Act 2007 (FSA). There are 2 categories of Global Business Licences:
The applicant shall maintain a minimum stated unimpaired capital of Mauritian rupees 7 00,000 or an equivalent amount and submit evidence pertaining thereto.
With Foreign Exchange License in Vanuatu, Businesses can be accepted by all clients in the world. Moreover, businesses can be advertising their services & products in any way it might be deemed appropriate for it under the circumstances
Some key characteristics of the Vanuatu Foreign exchange Business License include but are not limited to the very low costs compared to most regulated jurisdictions, the recognition it receives on an international level for its efforts in combating money laundering (important if later the broker will apply for a license with another jurisdiction), the swift adaptation in controlling and supervising uninterrupted relative to the increase in demand for its forex licenses, the favorable tax conditions (no tax on profit or capital gains).
If you have an Institutional business as a network and operate through a forex IB or White Label program, jurisdictions like Vanuatu are a great option to start your own brokerage, before moving forward into more complex and expensive alternatives. Unlike working unregulated, Vanuatu will provide comfort to your clients who need a regulated broker to support their trading needs.
Businesses also need the document for Account Opening and AML officer (Detail in the document required tab)
From 4-6 Months
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