There are numerous methods for safeguarding your wealth and all of your valuable possessions. Asset protection is one of the most effective ways to safeguard all you own. Asset protection has two objectives:
- To safeguard enterprises and personal assets from creditors, judgments, and seizures, one or more entities are used.
- American Samoa Stater LLC benefits taxes.
Ownership of corporate and personal assets is kept private. So, how do we go about doing all of this? Limited Partnerships, Limited Liability Companies, and/or Corporations are some of the mechanisms we utilize to secure our assets. Limited Partnerships, for example, are made up of one General Partner and one or more Limited Partners. The General Partner is the only owner of the partnership and its assets.
There is also a more sophisticated way, which is through Limited Liability Companies, in addition to the Limited Partnership strategy. Another approach to preserve your assets is to form a Limited Liability Company. Limited Partnership and Limited Liability Company are fairly similar, however, there are two key differences. Limited partners cannot engage in business management in a Limited Partnership, but they can benefit from LLC. In addition, although general partners in a Limited Partnership are personally accountable for corporate obligations, all LLC owners benefit from limited liability protection against business debts and lawsuits. This type Benefit of LLC structure serves to minimize the disadvantages of a Limited Partnership entity for a General Partner, which include the liability for your partners actions.
The creation of an American Samoa LLC offers the officers the greatest level of protection from creditors and zealous lawsuit attorneys. As an American Samoan, you are in charge of your own business. The advantages of forming an LLC include financial protection and business confidentiality. We believe that American Samoa is the best place for starting a llc business.
Overzealous and frivolous lawsuit seekers will think twice before filing unjustified cases in American Samoa due to its unusual geographic location. This is a one-of-a-kind feature that no other state in the United States has. We believe American Samoa is the best state for establishing an LLC.
Real Estate LLC and Asset Protection
Tenants-by-the-entirety coverage on a jointly-owned property can act as a type of asset protection. Couples who share a common property as tenants by the totality have a right to the entire property, not just parts of it.
Creditors with liens are unable to attach the property to recover debt because it is owned jointly. If a creditor has claims against both spouses, the totality stipulations of the renters will not safeguard the asset from that creditor pursuit. Placing property or financial resources in the name of a family member or other trustable companion is one method of asset protection.
Benefits to LLC Opening in American Samoa
1. Gather Information
LLCs are formed with a state government of American Samoa at LLC.AS.GOV. You will need to gather information about your company and present it in a formal paper. Your Certificate of Formation with the State of American Samoa will be filled out on the government website. You will also Get a copy of your Certificate of Formation immediately via email. You will receive a signed copy of the Certificate of Organization soon thereafter. It is that simple and easy. If you are forming an LLC look up what others have done, you will need to collect and disclose information about them, such as their name, address, and ownership stake in the new company. You will also need to supply information like your company name and address, as well as the name of your Registered Agent, the purpose of your company, and the name of the incorporator.
2. Choose a Business Name and Address
You will need to decide on a name for your LLC that is not used by another business in American Samoa. You will also need an official address for your LLC (note that American Samoa Allows you to maintain your own business address in the State in which you reside
3. Get the Formation Information at the llc.as.gov Website and check on Name availability.
American Samoa has made this process simple and easy. You can Apply for your American Samoa LLC online – need more info
4. Choose a Registered Agent
A Registered Agent is essential for all LLCs. This is a person or firm who gets formal notifications and correspondence concerning your company. Even if you do not live in American Samoa, you can be a Registered Agent yourself or select another LLC management as a Registered Agent. This makes the process simple and easy. You can also hire a professional Registered Agent service if so desired.
5. Fill Out and File the Formation Document directly to LLC.AS.GOV or a company like incfiles
Once you get the formation document, all you have to do now is fill it out, double-check it for accuracy, and submit it to the appropriate state office. To get your LLC formed, you must pay an LLC Formation cost.