There is always a question in the business owners minds that can I use myself as a registered agent? Or atleast my family member who reside at the state ? Or I always to hire a third party provider as a registered agent for a fee? Read this short article to get all these answers and more
Can I Use Myself As a Registered Agent?
The answer of who can be appointed as registered agent for an LLC or corporation may vary across different states by law criteria.
You have three options to pick from when deciding to a point to be your company’s registered agent.
First you can be a registered agent or your company can serve as its own registered agent in some States, if one of its officers is a resident of that state. However, this is an exception to the rule and it’s recommended that you check with the state to see if serving as you as your own company’s registered agent is an option.
Second a friend or family member can be your company’s registered agent. However they must be a resident of the state in which you are conducting business.
Third you can appoint a registered agent service by paying a small annual fee. This is a third-party company that is set up to receive service of process and correspondence on behalf of the LLC or corporation. According to my knowledge you will get one year free registered agent service and can form your LLC or corporation company paying the state fee only.
Which State Allows You To Appoint As A Registered Agent ?
1. Florida laws allows an individual to appoint himself or herself or a resident family member or a resident friend to appoint as a registered agent during the company formation and post formation legal activities. So there is no need to hire a 3rd party registered agent if you reside in Florida. Here are few more states where you can be your own company’s registered agent :
2. New York
6. New Jersey
There might be more states or some of the above mentioned states law change in future. So it will be wise to visit the office state websites and enquire properly before you declare yourself as a registered in the state. You should be a permanent resident in that state with an age of 18 yrs above.
Why Do You Need A Registered Agent?
The registered agent service will then have your legal documents forwarded immediately upon receipt. If you don’t appoint a registered agent you run the risk of losing good standing with the state in which you do business.
That means that your company may face serious commercial and legal repercussions which include revocation fines associated the inability to enter into legal contracts, the inability to gain access to the state court system that will risk your protection. Another reason is termination of business operations and the shutting down of the company.
When to Use Registered Agent Address?
You must designate a registered agent in order to form a business entity such as an LLC or corporation to operate in the state. That agent will give an address to the state govt body and you. The registered agent address is necessary to guarantee reception of and forward legal documents, notices of lawsuits and any other communication from the state.
A business address on the other hand is used to indicate the main location from which the business operates. It can be a virtual office address or a coworking space, a private office or a physical office space.
So you need both a registered agent service that includes an address for legal purposes and a virtual office address for your day to day business operations. You can appoint yourself or your resident family member as a registered agent only if the state law allows it to do.