Oregon Foreign LLC Registration: Everything You Need to Know
Understanding Oregon foreign LLC registration is important if you want to operate a business in Oregon.3 min read
Understanding Oregon foreign LLC registration is important if you want to operate a business in Oregon. It's important to note that both an LLC and a corporation are viewed as domestic entities during the formation process. If you want to operate a business in Oregon but want to conduct business with a company that is not in the state, then you will need register as a foreign corporation; this allows you to do business with companies in other states.
You will be considered foreign in the other state that you want to conduct business in. Any companies that are out of state but want to do business with an Oregon-based company are considered foreign to Oregon and will need to register as so. You will need to register with the Secretary of State if you need to get foreign business status. When you go through the process of registering as a foreign business, this is known as Foreign Qualification.
Can You Become a Foreign LLC in Oregon?
There are many things to consider when you decide that you want to register as a Foreign Company. First, you will need to consider the following to ensure that you can even register:
- Do you have an employee in the state?
- Do you have any real estate in Oregon?
- Do you have a business office located in the state?
- Do you have a bank account in the state?
- Do you have an automobile that is registered in the state?
- Do you want to bid on government contracts in the state?
- Are you an absentee landlord?
- Are you bringing a lawsuit to the state against another party?
- Are you operating a telecommunications company?
If you answered yes to any of these questions, then you may qualify to register as a foreign business. Once you have decided that you would like to register as a foreign business, you will want to hire a lawyer to help you with the process. There is much paperwork to be filed and having an attorney can be of the utmost help. However, there is a good chance that this professional will charge several hundred dollars an hour, so the process can get expensive very quickly.
How to Become a Foreign LLC
To register as a foreign LLC, you will need to follow a process that is very similar to becoming a domestic LLC. On the paperwork that you submit to become a foreign LLC in Oregon, you will need to provide the following information:
- Name of your company.
- Owners' names.
- The state the company was formed in.
- The date the company was formed.
- Certificate of Authority.
- The name and address of your company's registered agent.
- Company's registry number with the home state.
- Address of the company's principal office.
You will also need to prove that you are in good standing with the state the company was originally formed in. To do this, you will need to provide a Certificate of Good Standing. Once again, an attorney will be of the utmost help in making sure that you are able to provide this documentation. Although a lawyer will be of help, you do not have to hire one to become a foreign LLC in Oregon.
How Much Does it Cost to Register as a Foreign LLC in Oregon?
In the state of Oregon, you will have to pay a fee of $275 to complete the process of becoming a foreign LLC. If you do not pay this fee, you will not be able to complete the process. Please note that you will have to pay an additional fee to acquire the Certificate of Good Standing from your home state. The fee you will have to pay will depend on your home state.
What Is the Purpose of the Registered Agent?
You have to have a registered agent to become a foreign LLC in Oregon. This is the person the state will contact if they need to get a hold of your company. This is also the person through which all official mail correspondence will be passed through. Also noteworthy is the fact that, if you choose, you can serve as your own registered agent.
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