When considering a new business there are so many things to take into consideration. A big part of that process is determining if we want to start the business in our place of residence or elsewhere. In some cities, which will go nameless [cough..cough..Philadelphia] business ownership is challenging to say the very least.
What a lot of people don’t know is that you DO NOT have to start your business within the same city/state that you are residing in.
More than 850,000 business entities have their legal home in Delaware including more than 50% of all U.S. publicly-traded companies and 63% of the Fortune 500.
Another reason to consider Delaware is:
It’s Free! (Well, almost). Delaware charges $89 to incorporate. A little bit cheaper than California ($100..but they nail you for $800 every year in franchise fees), New York ($125), and a lot cheaper than Texas ($300). [note: Even if you incorporate in a foreign state like Delaware, your startup company may still be subject to registration as a “foreign entity” and compliance with the laws of states you transact business in.
Take a look at the video below to get more information.