Starting a business in Minnesota
Starting a business in Minnesota ensures that you can take full advantage of the state’s diverse economy. Minnesota is a successful centre for financial, manufacturing, bioscience and IT industries within the US.
The state has an advanced infrastructure and favourable taxation brackets as part of a pro-business ethos. This has helped Minnesota maintain low unemployment and economic diversity, which in turn attracts new investors to the state.
For more information on how we can help you open a Minnesota company, and to find out more about the services we offer, please call one of experts today.
Requirements for starting a business in Minnesota
- $1 is the minimum share capital amount
- Company shares increase may cause an increase to the initial filing fees
- At least one director
- No residency for directors
- No requirements to include directors in the articles of incorporation
- Corporation, incorporation or an abbreviation must be included in the company name
- The name must not be similar to another company
- Local taxes apply and registration for an EIN Number is required
How much does it cost to start a business in Minnesota?
- Due to the unique and individual nature of businesses, all enquiries are POA
How long does it take to start a business in Minnesota?
Starting a business in Minnesota only takes one week, as long as you submit all required information relatively quickly. We can send the documents to you anywhere in the world.
Serviced or virtual offices in Minnesota
- Virtual offices typically include telephone, fax and mail forwarding facilities. From £220 per month payable quarterly in advance plus £660 deposit refundable within 30 days upon termination of your office contract.
- Service offices are designed around your business needs.
Contact us and we will introduce you directly to an insured and regulated CPA/Accountant in the USA who will be able to review your requirements with you.
How to start a business in Minnesota
In order to begin the process of starting a business in Minnesota, we require the following:
- A completed application form
- 100% of the Minnesota Limited Liability Company Formation cost, due on receipt of a pro-forma invoice from us
- A certified copy of each Directors/Shareholders passport
- Two utility bills less than three months old