HOW TO START AN EXPORT IMPORT BUSINESS IN DELAWARE

delaware llc, delaware corporation, export35

How To Start Business in Delaware

Delaware is the most attractive state for all domestic and foreign investors who want to set up a company in the US. The main reason for this is the fact that state law and company law are protecting the investor and corporate privacy and tax advantages. On the other hand, firms based in Delaware do not pay taxes for out of state revenues.

More than half of US-based companies are based in Delaware including  Apple, Google, and Wal-Mart. Another interesting information; 63% of Fortune 500 listed companies are listed in Delaware.

Legislative, executive and judicial bodies in Delaware State continuously update state laws to provide companies with stability and flexibility. In today's economy, where technology is constantly evolving, competition conditions and market conditions change very rapidly, it is vital to keep up with changing conditions rapidly.


The state of Delaware's labor law rules constitute the legal framework for the internal affairs of companies. The Delaware State Supreme Court tries to effectively resolve large-scale legal disputes.


Export Import Business in Delaware

Delaware state near 5 billion  USD worth products shipped in 2018. Delaware handle %0,3 of USA annual export. As we mentioned before, many giants corporations and thousands of LLC companies based in Delaware but mostly, their trade activities happen outside of Delaware, So Delaware is not an important point about production or sale base

Before you start an export or/and import business in Delaware, you should start up a company in Delaware or any state in The US. The second option: organize your trade activities from your abroad office anywhere in the world. 


If you plan to build up a company in Delaware, you should check how to incorporating in Delaware. If you dont have an experience about export / import business, our article show you which steps you need to follow in this way.

1.way: You can get support from foreign trade companies as below:

Export management company (EMC) : EMCs usually specialize by foreign market or product type. They handle all steps on behalf of you. If you have a proper product its easy to find and deal with EMC. EMC working style as; commission, salary or retainer plus commission. There işs lots of EMC in all over the US.

Export trading company (ETC) : They are searching the foreign buyers (importers) and match the domestic producers with them. ETC companies works on a commission basis. Many of them focus on sectoral products.

2.way: You can sell your goods directly to abroad

Import / export Merchant : Merchant companies collect the goods from domestic producers and sell them on all over the world with their international contacts or agents. So all risks and charges belong to them. Import / export companies could be located in US or at any foreign country. Its the safe and simple way to work with "exworks delivery term" if you dont want to organize customs clearence or transportation process.

Import / export company : Its the main goal if you want to learn how to do import export business and grow your company. If you want to earn main profit without sharing or commission to reseller, broker of any kind of middleman.

Delaware LLC

The US state of Delaware is called as a haven for corporations due to its flexible business laws and advantages

We know that World's biggest companies based in Delaware. Most of them are C corporation or S corporation. On the other hand, Delaware state is most prefered state for LLC companies. 

Near 1 million people live in Delaware, on the other hand near 150.000 company based in Delaware and %90 of them are LLC.

Incorporating in Delaware

If you plan to start any business, the first step is build up a new company in Delaware. So you need to know, how to incorporate in Delaware? and also get an information that; which steps you take when you incorporate in Delaware.

Corporate Name: Your company name should be uniq so it cant be resemble so closely any other company names. First step you should check your desired company name already registered or not. The its better to check any similarity with wellknown company names. 
The company name ending should contain: corporation, incorporated, association, company, club, fund, foundation, union, institute, society  or limited.

Trademark: You should register your trademark or service mark if its needed.
Licensing: If you are a member of any occupations, it should be licenced by the State of Delaware

How long does it take incorporate in Delaware

Applicaion and filling paperwork process could be done in 1 day, the state secretary also need 48 hours to check and confirm the application. All process takes max 1 week. 

You have to prepare the “Articles of Incorporation Requirements” including the following details:

  • Company owner: One or more
  • No need to list any directors in the articles of incorporation.
  • You dont have to residence in Delaware.
  • There is no any spesific age requirements
  • You dont need to list any officers or directors in the articles of incorporation.
  • An increase in shares or par value does effect initial fees.

How to Form a Corporation in Delaware

1. Choose a Corporate Name and check if its register or not
2. Prepare a Certificate of Formation 
3. Appoint a Registered Agent 
4. Set Up a Corporate Records Book
5. Prepare Corporate Bylaws
6. Appoint Initial Corporate Directors
7. Hold Your First Board of Directors Meeting
8. Comply with Delaware Tax Requirements

Registration Fees in Delaware:

All companies should prepare annual report and also certificate of disclosure for each year.
The annual statements should be done in december and january. 1th of march will be the due date for the payment. The annual statement fee is 50 USD 


delaware export, delaware import

Tax Rates in Delaware State (CA)

Base state sales tax rate: %0
Local rate range: %0
Total rate range: %0

As of October 2016, Delaware,  dont impose state sales taxes, on the other hand, Delaware have state income taxes

Income tax rates calculated as below:

The company net income less then 2000 USD, (only federal tax demand)
The company net income between 2000 - 5000 USD, tax rate will be %2,2
The company net income between 5000 - 10000 USD, tax rate will be %3,9
The company net income between 10000 - 20000 USD, tax rate will be %4,8
The company net income between 20000 - 25000 USD, tax rate will be %5,2
The company net income between 25000 - 60000 USD, tax rate will be %5,55
The company net income over 60000 USD, tax rate will be %6,6

Delaware Department of Renevue: https://revenue.delaware.gov/

Delaware Export Products

Delaware exported 4,6 billion USD goods in 2017. Statistics shows then Delaware export import sector not an important when its compare the economic power of the state. We just mention that, %50 of USA companies based in Delaware because of Delaware states favorable business laws and tax advantages but these companies perform their main commercial activities in other states.

Delaware is the first state to approve the US constitution among 13 colonies in the USA. For this reason Delaware is called as
 “The First State”. Since December 7, 1787, Delaware was the first state to ratify the US constitution, many national events were opened in the present day.


Delaware main industry are; Chemical products, paper products, food processing,  rubber and plastic products,
Delaware Agriculture: Poultry, nursery stock, soybeans, dairy products

Delaware Top 5 Export Products

  • Miscellaneous medications (medicine) : 732 million USD 
  • Large automobiles and its parts : 546 million USD
  • Physical chemistry instruments : 257 millio USD
  • Small gas-powered trucks : 192 million USD
  • Bananas : 139 million USD

Delaware Top 5 Exporting Country

  • Canada : 600 million USD
  • Saudi Arabia : 500 million USD
  • China  : 350 million USD
  • Mexico : 325 million USD
  • United Kingdom : 325 million USD

COMMENTS

BLOGGER: 1

Name

BUSINESS,7,COUNTRIES,13,ECONOMY,4,EDUCATION,2,EXPORT,2,FOREIGN TRADE,7,IMPORT,2,INCOTERMS,13,LOGISTICS,17,MARKETING,3,US STATES,8,US VISA,7,
ltr
item
usatradevisa: HOW TO START AN EXPORT IMPORT BUSINESS IN DELAWARE
HOW TO START AN EXPORT IMPORT BUSINESS IN DELAWARE
How To Start Export Import Business in DELAWARE, How to incorporate in DELAWARE, DELAWARE tax and registration rules. DELAWARE investing opportunities. DELAWARE's top export and import goods
https://3.bp.blogspot.com/-QwU8m9FBvls/XK8Ns1VC5yI/AAAAAAAAATs/J-BZamPcPLkoDsdiyAdOyZEskBDvY8OygCLcBGAs/s640/delaware_1.jpg
https://3.bp.blogspot.com/-QwU8m9FBvls/XK8Ns1VC5yI/AAAAAAAAATs/J-BZamPcPLkoDsdiyAdOyZEskBDvY8OygCLcBGAs/s72-c/delaware_1.jpg
usatradevisa
https://www.usatradevisa.com/2019/04/how-to-start-export-import-delaware.html
https://www.usatradevisa.com/
https://www.usatradevisa.com/
https://www.usatradevisa.com/2019/04/how-to-start-export-import-delaware.html
true
7945244635238684512
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy Table of Content