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Ask a Lawyer -- LLCs
LLC Question 141
Question:
Hello, I would like to know if it is possible to create a LLC for a website-driven business from Europe:
I am French and live in Spain. Here the cost of creating a company is very high, and therefore I would like to understand if it could be better to set up a company from overseas. How much would it cost to create an LLC? How much would it cost to maintain it (assuming I would pay somebody to take care of all the paperwork and declarations)?
Response: The cost of organization an LLC in the United States is modest in most states. For instance, in my home state of Missouri the fee is $105 US. Several problems with this strategy though. First, you would need a resident individual or corporation to act as your registered agent. The agent can be hired for a reasonable fee. Here is a company willing to do it for $99 per year. Link.
But the problem with your strategy is taxes. I'm not an expert in this field but, by registering in the US, you definitely create the potential to expose yourself to US taxation. Not just income taxes but employment taxes as well. Doesn't make sense to me to go this route (i.e., registering in the US). If all you are looking for is a relatively inexpensive place to incorporate, I would think a jurisdiction with a zero income and corporate tax rate makes more sense. Many tax havens are located in the Caribbean. Before making a decision, best to run the idea by a local tax accountant to see what effect, if any, there is to operating a foreign LLC or corporation in Spain.
Submitted: 10/29/2007; Loris, Spain
Response: 10/29/2007; JJR
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