General Guide to Company Incorporation in Hawaii
Updated on Friday 22nd December 2017
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Hawaii is the only insular state in USA located in the Pacific Ocean and sums up a number of 132 islands, with Honolulu as the capital. The reach history and culture, the high costs of living and especially the tourism sector that represents the main engine of the state are only a few of the attributes of the Aloha State. More often known as the exotic destination found in the middle of the ocean, Hawaii also presents an appropriate business climate for entrepreneurs from overseas. Before deciding on the type of business in the insular state, we invite you to read the general guide to company incorporation in Hawaii, considering that the formalities are simple and can be supervised by our team of agents for company formation in USA.
Opening an LLC in Hawaii
The proper option for starting a business in USA is the limited liability company which is also the most popular entity preferred for incorporation in Hawaii. The Department of Commerce and Consumer Affairs is the institution that accepts and registers the companies in Hawaii, whether established by locals or by foreigners. The Articles of Organization are mandatory when creating an LLC in Hawaii and must cover all the details related to the owners (name, nationality, address), the name of the company, the purpose of the business, the board of directors, and the appointed agent who will represent the company on your behalf.
The operating agreement in Hawaii
Just like in most states of America, an operating agreement must be considered and filled, but not with any particular institution. Such covenant with high importance for an LLC comprises details about the shareholders of the company and also information about how activities will be operated in Hawaii.
Setting up a bank account for your company
Each transaction in a company must be made with the help of a business bank account which can be easily set up in Hawaii, using only the Articles of Organization and submitting the bank’s forms.
At-will condition for LLCs in Hawaii
Limited liability companies in Hawaii may be subject to a particular condition which is usually settled by the owners of the firm. Although it is not mandatory, the shareholders can agree on a date in which the company can be closed or dissolved.
Opening a company in USA may be subject to different policies and protocols, depending on the state of incorporation and the related legislation. Knowing the registration process of a company and receiving support are essential for each entrepreneur, particularly if it is not familiar with the business environment in America. In this situation, we suggest you talk to our company formation representatives in USA for support and complete guidelines, no matter the chosen state for business.
Applying for the EIN
The Employer Identification Number or simply the EIN is crucial for all companies in USA, including Hawaii, the insular state. This represents the legal form through which the employer pays the social contributions and taxes for the staff of the company. The EIN can be easily obtained through the online forms offered by the IRS (Internal Revenue Service), but for avoiding difficulties, it is best to solicit help from one of our advisors.
Special permits and licenses for your company in Hawaii
The USA company formation comes with several terms and conditions an entrepreneur from abroad should take into consideration. Your business in Hawaii may operate under certain licenses and permits, a concern of the Department of Commerce and Consumer Affairs that oversees such aspect. It is necessary to have a license to operate in fields like real estate, export and import of plants, quality assurance. The Department of Health, the Professional and Vocational Licensing Division, the Public Utilities Commission, and the Department of Transportation are important institutions which grant diverse licenses and permits.
Get a virtual office for your business in Hawaii
Even though investors are not obliged to relocate in the insular state for incorporation purposes and therefore there is no need for a traditional office, it is suggested to make the presence on the market with the help of virtual office services which are easy to obtain. Our USA company formation specialists can take care of a notable business address in Hawaii, offer specialized technology for call forwarding, voice mailbox, fax services, and mail forwarding, as part of the virtual office packages provided in the insular state. If a traditional office is not what an entrepreneur needs at the moment, he or she has the possibility of choosing virtual office services at request.
An overview of the economy in Hawaii
The Aloha State became famous due to the extremely developed tourism sector which signifies the engine running of the overall economy. But Hawaii offers a distinct economy through sectors like agriculture, manufacturing, the service and accommodation industry, the export trading which developed with numerous countries worldwide. Due to the tropical climate which is beneficial in agriculture, Hawaii is placed in the first position in USA for sugar cane and pineapple production. Honolulu, the capital of Hawaii, Kapolei, Kailua, East Honolulu, Pearl City, Waipahu, Hilo or Royal Kunia are among significant cities in Hawaii and suitable for business purposes and related activities.
For additional information about how to establish a company in Hawaii, we kindly invite you to contact our company incorporation agents in USA for complete support.