Many businesses are moving to Florida in the post-pandemic scenario. Indeed, this migration started a few years ago has accelerated after the COVID-19 pandemic, especially as more and more workers are no longer physically tied to their companies due to home-office routines.
In this context, there are many small and medium companies migrating to Florida looking forward to seizing advantage of the state’s tax structure, year-round good weather, and continuous economic growth.
In this article, you will find out how to relocate an LLC to Florida.
How Can I Relocate an LLC to Florida? – Choosing the Best Method
If you own a limited liability company (LLC) out of Florida and want to relocate its structure to the Sunshine State, there are two feasible options available. You can either register your LLC as a foreign company in Florida or domesticate your LLC.
Register Your LLC as a Foreign (Out-of-State) Entity in Florida
The simpler option is to register your LLC as a foreign (out-of-state) entity in Florida while keeping your registration active in your old state. This method is the best option for entrepreneurs who will continue making business in the old state or plan on eventually moving back there.
However, this method can be costly, as you will have to pay the required taxes, file the necessary reports, and maintain permits in both states to keep your business activities in and out of Florida.
Also, it is worth noting that you will need to complete duplicate reports and file all required annual paperwork required by each state.
If you are completely cutting ties with your old state, the best method is to file articles of domestication with the state of Florida and dissolve your LLC in its previous location.
In Florida, entrepreneurs can register an LLC as a foreign (out-of-state) entity with the State of Florida Division of Corporations.
Before filing for registering in Florida, entrepreneurs must file a Certificate of Existence. This document is issued by the LLC’s home state to demonstrate the company has met state requirements and paid the necessary fees.
When it comes to establishing a limited liability company, different states have different requirements. Accordingly, it is fundamental to ensure a foreign (out-of-state) LLC is fully compliant with all requirements at the state level.
In this context, the best approach is to work with a local business attorney to ensure full legal compliance during the process. Then, once you have filed a Certificate of Existence and made sure the LLC meets the state requirements, it is time to fill out the application.
The application forms are available online, so entrepreneurs can either file the documents online and print them out, or print the documents to be file out in pen.
Once you complete the necessary forms, you can sign them and mail the application to the Division of Corporations – Registration Section. The package must include the application forms, a cover letter, the Certificate of Existence, and the required fee.
Domesticating Your LLC in Florida
On the other hand, it is possible to domesticate your LLC in Florida. In this case, the first step is to ensure your old state allows business domestication. Most states allow foreign (out-of-state) business entities to domesticate or convert to a domestic (in-state) entity.
If your old state does not allow business domestication, you will need to register as a foreign entity, or even dissolve your old LLC to start fresh in Florida.
Nevertheless, registering a new LLC from scratch is not the best option, as you would lose your EIN (Employer Identification Number) and business credit history.
If your old state allows business domestication, you can start by filing a Certificate of Existence there. Then, you can complete an Articles of Domestication application using the forms available online on Florida’s Division of Corporation website.
At this point, the process is similar to registering an LLC as a foreign (out-of-state) entity. After completing the forms, you can sign them and mail the application to the Division of Corporations – Registration Section.
Again, make sure to mail the application forms, a cover letter, a copy of the Certificate of Existence, and the required fee. Once the Florida Division of Corporations accepts your application, you will need to dissolve the LLC in your old state.
We Can Help You to Relocate an LLC to Florida
If you want to relocate a limited liability company to Florida, it is crucial to work with an expert business attorney to ensure full legal compliance.
At Jurado & Farshchian, P.L., we have a team of expert business lawyers to guide you throughout the process.
Waste no time. Call Attorney Romy B. Jurado at (305) 921-0976 or send us an email at [email protected] to schedule a consultation.
