Delaware is situated in the East Coast of the United States of America.
The legislation can be attractive to set up a LLC as there are few regulations and little red tape.
The LLC is not a taxable entity. Income is passed through to members, and members pay taxes as individuals. Members that are non-US residents are not liable for US income tax for income derived outside of the United States and passive income derived from the United States, such as interest income, dividend income and capital gains.
| General |
| Type of entity |
LLC |
| Type of law |
Common |
| Minimum government fee |
Varies |
| Corporate taxation |
Fiscally Transparent |
| Double tax treaties |
None |
| Name requirements |
Limited Liability Company or LLC and may contain the name Company," "Association," "Club," "Foundation," "Fund," "Institute," "Society," "Union," "Syndicate," "Limited" or "Trust |
| Name restrictions |
Bank, University, College, School |
| Change in Domicile permitted |
Within USA only |
| Directors or Managers |
| Minumum number of directors/managers |
One |
| Local directors required |
No |
| Government register/pubic record of directors/managers |
On formation |
| Location of directors/managers meetings |
Anywhere |
| Members |
| Minimum number of shareholders/members |
One |
| Government register/public record of shareholders/members |
No |
| Location of members meetings |
Anywhere |
| Accounts |
| Requirement to prepare accounts |
No |
| Audit requirements |
No |
| Requirement to file accounts |
No |
| Publicly accessible accounts |
No |