DOING BUSINESS IN NEVADA IN 2018
Since 2003, Healy Consultants Group PLC has assisted multinational Clients with setting up their company in Nevada. Our services in the USA and Nevada include i) complete company registration and support licensing, ii) corporate bank account opening services with a top-tier USA banking group, iii) employee recruitment iv) visa strategies and v) office rental solutions.
Summary table of Nevada company registration
|Best use of company?||All purpose||Global trading||Professional services||Tax planning||Consolidate profits|
|How soon can you invoice Clients/sign sales contracts?||1 week||2 weeks||1 week||2 weeks||2 weeks|
|How soon can you hire staff?||1 week||7 weeks||1 week||2 weeks||2 weeks|
|How soon can you sign a lease agreement?||Immediately||Immediately||Immediately||Immediately||Immediately|
|How long to supply corporate bank account numbers, after company set up?||6 weeks||6 weeks||6 weeks||6 weeks||6 weeks|
|How long to supply company / entity registration numbers?||1 week||2 weeks||1 week||2 weeks||2 weeks|
|Corporate tax rate on annual net profits?||0%||0%||0%||0%||0%|
|Federal tax rate on annual net profits?||0%||25%||0%||0%||25%|
|Limited liability entity?||Yes||Yes||Yes||No||No|
|Resident director/partner/manager/legal representative required?||No||No||No||No||Yes|
|Minimum /recommended paid up share capital?||US$1||US$1||US$1||US$1||N/A|
|Local registered agent required?||Yes||Yes||Yes||No||Yes|
|Corporate bank account location?||Wells Fargo||BNY||BOA||Citi Bank||TD Bank|
|Sales tax payable on sales to local customers?||6.85%||6.85%||6.85%||0%||6.85%|
|Average total business set up engagement costs? (US$)||7,740||10,100||8,940||Request a proposal||8,940|
|Average total engagement period?||2 months||3 months||3 months||3 months||3 months|
Nevada business setup summary
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Benefits of Nevada company registration
Nevada is a great place to register tourism or entertainment business, because:
- Each year 40 million tourists visit Nevada with record spending up with 16% in 2016 and 2017;
- 25% of the state’s population is working in the tourism industry, offering east access to capable workforce;
- Nevada is consistently ranked in the top 10 USA states in terms of business friendliness;
- The State is positively ranked as second survivable state for small businesses;
- Las Vegas is a top destination for trade shows with more than 6.3 million visitors in 2016.
Registering a company in Nevada is tax-efficient, because:
- Businesses in Nevada enjoy no franchise, nor corporate, nor inventory taxes;
- Personal taxation in Nevada is abolished in comparison to neighboring States;
- Nevada forms its tax revenues mostly from i) sales tax of 6.9% and ii) excise taxation.
There is abundance of infrastructure projects in Nevada, because:
- Being a large state with high volumes of visitors, Nevada always offers infrastructure development projects, most recently for US$346m;
- Nevada’s infrastructure is struggling to meet demand, with recent grade of just “C-“. Consequently, there is a abundant need of investments in maintenance;
- The predominantly dry State is budgeting for 4 billion in investment allocated for water infrastructure, due to growing public demands;
- Nevada houses one of the fastest growing state populations, which will ultimately increase demand for improved infrastructure.
Problems of Nevada company registration
Las Vegas economy and gaming industry is yet to recover, because:
- The gaming industry in Nevada is observing low growth rates due to i) the 2008 economic crisis and ii) shift of business investments in South East Asia;
- Las Vegas is yet to reach the gaming revenues generated from 2006-2007;
- MGM Resort’s long-term debt has skyrocketed since 2012;
- Housing prices in Las Vegas are climbing higher while there is looming lack of diversity and inventory;
- Macau’s gaming and gambling revenues have doubled over the past couple of years, with significantly higher GGR (gross gaming revenue) than Last Vegas at US$28 billion.
- Registering a tourism business in Nevada guarantees cost-efficient operations due to i) abundance of visitors and ii) low tax State in a high-taxation country.
- Time to incorporate: One week
- Cost to set up: US$7,740
- Minimum capital: US$0
- Physical office required: No
- Shareholders: 1
- Directors: 1
- Company secretary: Yes
- Resident director: No
- Corporate tax rate: 35%
- Corporate tax base: Worldwide
- Shelf companies: No
- Main company type: LLC
Frequently asked questions
I am starting a new business in Nevada. Can you tell me how many directors will be required?If you are registering a limited liability company in Nevada, 1 director will be required.
What are the least number of shareholders mandated for successful business registration in Nevada?If you register a business in Nevada, you will only be required to appoint 1 shareholder.
Is it mandatory to have a resident director or shareholder for company registration in Nevada?No. Resident director/shareholders are not required for registering a company in Nevada.
How to register a business in Nevada?For Nevada business registration, our Client will be required to i) reserve the company name ii) sign the company setup forms iii) apply for Federal Identification Number (EIN) iv) register with the Unemployment Insurance Division and v) publish the notice of incorporation.
Healy Consultants’ experts are Nevada company registration specialists and will assist our Clients at every step of the engagement.
Can Healy Consultants assist my firm with Nevada subsidiary company registration?Yes. Healy Consultants is a qualified and experienced Nevada company registration agent and will be able to assist you and your firm with this process.
Our Nevada company registration services include i) business registration ii) business license registration iii) immigration solutions iv) employment strategies v) business banking solutions and vi) office rental requirements.
Useful links for Nevada
Government and public authority websites:
- Nevada Tax Authority
- Nevada Company Registrar
- Nevada company name search
- Central Bank of Nevada
- Stock Exchange
- Investment Authority
- Chamber of Commerce
- Nevada airports
- Visiting Nevada
- Nevada Business Entity Search
- Nevada Hispanic Business
- Nevada Business Portal
- Nevada Yellow pages
- Nevada White pages
- Tax Foundation – 2014 State Business Tax Climate Index
- City of Las Vegas – Business Guide 2014
- State Business Tax Climate Index
- Understanding Nevada’s Property Tax System
- Doing Business Guide USA – Nevada
- Nevada Business Guide
- Foreign Direct Investment – Why Nevada?
- Nevada Investment Strategies