Since 2003, Healy Consultants Group 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.

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 56 million tourists visit Nevada with record spending of US$65.5 billion;
    • More than 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 Silver State is positively ranked 2^nd for the most entrepreneur-friendly states under the “Small Business Policy Index 2019”;
    • Las Vegas is a top destination for trade shows with more than 6.5 million convention attendance in 2018.
  • Registering a company in Nevada is tax-efficient, because:
    • A business owner i) who is neither a US citizen, permanent resident or tax-resident) ii) who lives outside the USA iii) who only has a company number in the USA iv) whose staff and directors are based outside the US and v) whose company provides services or manufactures goods outside the USA, is legally exempt from USA corporate and personal income tax;
    • While the above applies for the majority of cases, it should be confirmed on case-by-case basis;
    • Foreign corporate shareholders need to register for Employer Identification Number (EIN) tax at all times. IRS will not share tax information with the Client’s home country;
    • 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 4.6% 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 grade has improved from a C- in 2014 to a C in 2018, according to ASCE report. 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.
  • Nevada is a business- friendly place because of the following:
    • A Nevada-incorporated company has no minimum initial capital requirements;
    • A complete privacy is given to the shareholders of the companies;
    • It is the only state in the US that does not have a formal information-sharing requirement with the IRS;
    • There are no statutory requirements for the stockholders, directors and officers to be Nevada residents or US citizens, same as in the other states;
    • There are no statutory requirements for the stockholders, directors and officers to hold meetings in Nevada.

• 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 in 2006-2007;
    • MGM Resort’s long-term debt has skyrocketed to 15.462 billion in September 2019;
    • Housing prices in Las Vegas are climbing higher while there is looming lack of diversity and inventory;
    • Macau’s gaming and gambling revenues keep growing year after year, with significantly higher GGR (gross gaming revenue) than Last Vegas at US$28.04 billion.
  • Nevada requires dual registration of companies, and comply to below regulations:
    • If an entrepreneur wishes to incorporate a branch or subsidiary of his Nevada business in another state, then he is required to register in both Nevada and the other state;
    • The company needs to maintain registered agents in both Nevada as well as in the other state;
    • If any of the companies get associated in litigation, the laws of Nevada and the other state might be required to be applied depending on the nature of the case.
  • Annual tax return filing is mandatory in Nevada. However, many jurisdictions in the US do not require companies to file their annual tax-returns, such as Wyoming.

• Best uses

  • Registering a tourism, gaming and entertainment business in Nevada guarantees cost-efficient operations due to i) abundance of visitors and ii) low tax State in an otherwise high-taxation country;
  • Nevada is an excellent location for IT-oriented companies to expand their businesses since i) a range of regional development schemes have been implemented by GOED aimed at making Nevada a technologically commercialised State; ii) there is a presence of an influential IT industry with excellent internet infrastructure and iii) it is an attractive location for businesses;
  • Nevada is rich in mineral resources and has one of the largest geothermal fields in the world. As a result, it is an attractive destination for mining, power generation, manufacturing and consumer goods industry.