10 steps to incorporating in Massachusetts in 2024

PRE-INCORPORATION

1. Prior to commencing the engagement, our Clients i) sign our engagement letter ii) the required due diligence documents and iii) settle the Massachusetts engagement fees;
2. To optimize transparency and settle our Client’s expectations, our dedicated Client engagement manager drafts a detailed engagement plan, detailing by week every step towards engagement completion;
3. Next, we discuss the optimum corporate structure pertaining to our Clients’ business needs and submit the preferred company name to the Massachusetts’ Secretary of Commonwealth;
4. By law all company names must append “limited liability company”, “limited company”, LLC or LC. To check the availability of company names, our Clients can conduct on a negative name search on the State Secretary website;

INCORPORATION

1. On approval, the company name is reserved for 60 days. In this period, our registered agent will draft the company by laws (if required) and complete and file the Certificate of Organization with the Corporations Division of the Secretary of Commonwealth. Important information that must filed together with the Articles of Organization includes i) contact details of the registered agent, all directors, shareholders (incorporators) and officers ii) principal business activities of the company iii) legal registered address and principal place of business (if diferrent from registered address) and iv) the financial year-end;
2. After the company has been incorporated, we will request for issuance of Certificate of Good Standing. This document will be required when opening the corporate bank account. If specifically requested by our Client, we can also notarize and apostille the corporate documents for overseas use at additional cost;
3. Healy Consultants now, proceeds with Federal Employment Identification Number (FEIN) application with the Inland Revenue Service. This number will serve as your entity’s tax identification number;

POST-INCORPORATION

1. Our bank account opening team secures a multicurrency corporate bank account for the new Massachusetts company. Since, it is not mandatory to open the corporate bank account in the US, our Clients retain the option of choosing other international jurisdictions or not opening the bank account at all;
2. If our Clients intend to perform regulated business activities, Healy Consultants’ compliance department will ascertain the specific licensing requirements before our Clients commence business operations. Out team will assist secure the relevant license(s) with the appropriate authorities;
3. The process of Massachusetts company registration is now complete. With the engagement complete, Healy Consultants couriers a full company kit to our Client; the kit includes the original corporate documents, unopened bank correspondence and a feedback form.