Setup An Organization In Seattle Using Wholesale Shelf Corporations

Seattle, Washington has been ranked 1st in the U.S.A for the standard of life and 5th for easy access to venture capital to acquire business funds. Purchasing a Shelf Corporation will give you additional options to fund your business. Shelf corporations are dormant and aged corporations that are used by businesses to boost their company’s credibility.

The state of Washington is a great choice for new business owners looking to incorporate.

If you are confused and don’t know the process of incorporating in Seattle, Washington, then we have got your back.

Here are steps on how to set up an organization in Seattle, using Wholesale Shelf Corporations.

Decide on a business structure and idea

The first step of starting an organization is deciding the kind of business you want to incorporate. Instead of getting excited and going for an idea that interests you, research the market demand for that particular idea. You also need to decide on a business entity. There are mainly 4 types of businesses. These are Sole Proprietorship, C Corporation, S Corporation, and LLC. Before choosing your business entity, it is suggested that you consult an attorney or accountant to help you make the right decision based on tax and legal implications.

Find your shelf company and negotiate

Now that you have decided on your business entity, it is time to find the right shelf corporation that fits all your business needs and goals. The cost of the shelf company directly depends on the age of the shelf company, the older the shelf company is, the more expensive will it be. Most suppliers and lenders invest in a company that has been incorporated for at least 2 years. Research how old you want your shelf corporation to be before purchasing one. Once you find your perfect shelf company, negotiate with the seller, sign the papers and make the payment. Sellers, also provide additional services with the purchase of a shelf corporation, like free registered agent services for the first few months or free name change.

Sign the transfer agreement and decide on a business name

Once you buy a shelf corporation, you will have to sign the document, called the “Contract of Sale.” A “Contract of Sale” is a transfer agreement, and once you sign this, all the shares of the shelf company will be transferred from its existing owner to the new owner, you. You will become the new shareholder and the owner of the company.

You can either choose to go along with the existing name of the shelf company or change the name. If you are coming up with a new business name, check Washington’s business naming rules. Make sure that your business name resonates with your brand image and audience.

Hire a registered agent service

The state of Washington requires all businesses to hire a registered agent with a physical street address in the state. The role of the registered agent will be to accept and receive all paperwork on behalf of your corporation.

Choose a business location

Have you thought about where your business will be located? Whether you are starting a business from home or establishing a brick-and-mortar establishment, you need to think about your business location to apply for licenses and permits. Cities like Seattle and Vancouver have good growth potential and can increase your business’s foot traffic and.

Check with the Washington government on the type of licenses and permit you might require according to your location. Also, search if the government provides any incentives or programs for your business location.

Obtain EIN from the IRS

EIN or employer identification number is a 9 digit number issued by the Internal Service Revenue to identify your business. Your company needs to acquire this unique number to hire employees, open a business bank account and file certain reports. You can obtain an EIN for free from the IRS if you possess a social security number or an individual tax ID number. Wholesale Shelf Corporations also provides IRS company registration to make the process hassle-free for you.

Apply for business licenses and permits

Now that you have your EIN, you can start applying for business licenses and permits. To start a business in Seattle, you will need different types of licenses and permits depending on your business entity. You can visit the Washington State Department of Licensing website for more clarity on the type of permit or license your business might need. For federal licenses, you can refer to the US small business administration guide, and for local licenses, you can contact your local county clerk and ask for assistance.

Apply for funding and start a business bank account

Owning a shelf corporation will be of great use when you approach banks and investors to secure funding. Most banks and investors look for companies that have at least 2 years of establishment history before investing money. The age of the company reassures them that the money is in safe hands and will get back to them. Owning a shelf corporation will also give you added confidence when you want to approach the bank to secure funds and credit to start your business.

Applying for a business credit card and business bank account is crucial to make sure that your business finances are separate from your personal finances. Make sure that you work on your business’s paydex score to achieve additional benefits like a low rate of interest.

How can Wholesale Shelf Corporations help?

Wholesale Shelf Corporations is a professional company that mainly sells affordable and clean shelf companies. Along with shelf companies, Wholesale Shelf Corporations also provides additional services like search engine listing, website designing, and registered agent services to help get your business get off the ground and achieve business growth.

The bottom line is, Seattle is one the most-business friendly cities to consider establishing a business, and owning a shelf corporation will make your job much easier. You can also contact the team at Wholesale Shelf Corporations for professional assistance regarding your business or shelf corporation.