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Delaware is located on the east of the United States of America near Baltimore and Washington D.C and is one of the 50 states of the United States, in the Mid-Atlantic or Northeastern region. The geographical position represents a real advantage in terms of export markets due to its close location to the sea and main highways. Delaware is bounded to the north by Pennsylvania; to the east by the Delaware River, Delaware Bay, New Jersey and the Atlantic Ocean; and to the west and south by Maryland.
Delaware is 96 miles (154 km) long and ranges from 9 miles (14 km) to 35 miles (56 km) across, totaling 1,954 square miles (5,060 km2).
the population of Delaware was 952,065 people on July 1, 2016, a 6.0% increase since the 2010 United States Census.
As of 2000 91% of Delaware residents age 5 and older speak only English at home; 5% speak Spanish. French is the third most spoken language at 0.7%, followed by Chinese at 0.5% and German at 0.5%.
Delaware's fourth and current constitution, adopted in 1897, provides for executive, judicial and legislative branches. The Democratic Party holds a plurality of registrations in Delaware.
The Delaware General Assembly consists of a House of Representatives with 41 members and a Senate with 21 members. It sits in Dover, the state capital. Significantly, Delaware has one of the few remaining Courts of Chancery in the nation, which has jurisdiction over equity cases, the vast majority of which are corporate disputes, many relating to mergers and acquisitions.
The Court of Chancery and the Delaware Supreme Court have developed a worldwide reputation for rendering concise opinions concerning corporate law which generally grant broad discretion to corporate boards of directors and officers.
Delaware is the ninth richest state in the United States, with a per capita income of $23,305 and a personal per capita income of $32,810. The state's largest employers are: government; education; banking; chemical and pharmaceutical technology; healthcare; and farming. More than 50% of all U.S. publicly traded companies and 63% of the Fortune 500 are incorporated in Delaware. The state's attractiveness as a corporate haven is largely because of its business-friendly corporation law.
United States Dollar (USD)
Delaware does not separately impose exchange control or currency regulations.
The financial services industry has become a key component of Delaware's economic strength and growth. The state has been home to many banks and financial services companies for years due to tax regulation on interest rates.
Because of its friendly business climate, many companies that you would not associate with Delaware are incorporated in the state. According to the National Law Review, "more than 50 percent of all U.S. publicly traded companies and 63 percent of the Fortune 500 are incorporated in Delaware.
The corporate laws of Delaware are user-friendly and often adopted by other states as a standard for testing corporate laws. As a result, the corporate laws of Delaware are familiar to many lawyers both in the US and internationally. Delaware has a common law system.
One IBC supply incorporation in Delaware service with the common type Limited Liability Company (LLC) and C - Corp or S - Corp.
More than a million corporations have been incorporated in Delaware and more than 50% of all U.S. publicly-traded companies. Businesses choose Delaware because it provides modern and flexible corporate laws, a respected Court of Chancery and a business friendly State Government.
The use of bank, trust, insurance, or reinsurance within the name of the LLC is generally prohibited as limited liability companies in most states are not allowed to engage in a banking or insurance business.
The name of each limited liability company as set forth in its certificate of formation: Shall contain the words "Limited Liability Company" or the abbreviation "L.L.C." or the designation "LLC";
No public register of company officers.
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Delaware does not impose minimum or maximum limits on share capital.
Only one director required. Directors may be of any nationality.
Only one shareholder required. Shareholders may be of any nationality and may reside anywhere.
Companies of primary interest to offshore investors are the corporation and the limited liability company (LLC). LLCs are a hybrid of a corporation and a partnership: they share the legal features of a corporation but may choose to be taxed as a corporation, partnership, or trust.
There is generally no requirement to file financial statements with the state of formation unless the corporation owns assets within that state or has conducted business within that state.
Delaware law requires that every business have a Registered Agent in the State of Delaware who may be either an individual resident or business that is authorised to do business in the State of Delaware.
Delaware, as a state-level jurisdiction within the US, has no tax treaties with non-US jurisdictions or double tax treaties with other states in the US. Rather, in the case of individual taxpayers, double taxation is minimised by providing credits against Delaware taxation for taxes paid in other states.
In the case of corporate taxpayers, double taxation is minimised through allocation and apportionment rules related to the income of corporations engaged in multi-state business
The minimum annual franchise tax for a corporation with the standard minimum share capital is USD175, plus an additional USD50 filing fee for the annual franchise tax report. For a LLC, the franchise tax is USD300.
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