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Services
Unless otherwise indicated, the corporation stated in this quotation specifically refers to a company limited by shares (also known as a joint stock company) registered in California, the U.S., in accordance with California General Corporation Law.
Our package fee for this California corporation incorporation and business account opening in New York is USD3,680. The package fee covers our professional registration service, registered address and registered agent service in California for one year, a set of standard Bylaws, the payment of official registration fee to the California Secretary of State and the opening of a corporate bank account in New York, U.S.
To incorporate a corporation in California, you will need to prepare and provide the proposed business name of the company, registration capital (if any), the maximum number of shares and the par value of the shares, the identification (e.g. passport) and residence address proof (e.g. utility bill, bank statement, etc.) for each shareholder, director, and manager (and secretary, if requested) of the corporation.
If the business name does not contain any restricted words, and the business activities to be carried out by your California corporation is not specially regulated, the corporation registration timeframe is about 5 business days. Rush filing service is unavailable in California. Then, the applications for EIN and ITIN will take up to 8 weeks. The bank account opening will take up to 2 weeks. The whole process will therefore take around 9-11 weeks.
In any case where your California corporation is to engage in regulated business, including agriculture, alcoholic beverages, aviation, firearms, ammunition and explosives, fish and wildlife, commercial fisheries, maritime transportation, mining and drilling and etc, additional licence or permit may be required. Kaizen can help you apply for those licence. Our fee for this service will be quoted upon request.
A California corporation must file Statement of Information to California Secretary of State and pay franchise tax California Franchise Board each year. Kaizen will handle the basic annual renewal for your California corporation for a fee USD900, including provision of registered office, registered agent, and Statement of Information filing. Please note that this service fee does not include accounting, income tax filing and at least USD800 franchise tax. We will send a renewal notice to you 2 months before the due date.
Our package fee for this California corporation incorporation and business account opening in New York is USD3,680. The package fee covers our professional registration service, registered address and registered agent service in California for one year, a set of standard Bylaws, the payment of official registration fee to the California Secretary of State and the opening of a corporate bank account in New York, U.S.
To incorporate a corporation in California, you will need to prepare and provide the proposed business name of the company, registration capital (if any), the maximum number of shares and the par value of the shares, the identification (e.g. passport) and residence address proof (e.g. utility bill, bank statement, etc.) for each shareholder, director, and manager (and secretary, if requested) of the corporation.
If the business name does not contain any restricted words, and the business activities to be carried out by your California corporation is not specially regulated, the corporation registration timeframe is about 5 business days. Rush filing service is unavailable in California. Then, the applications for EIN and ITIN will take up to 8 weeks. The bank account opening will take up to 2 weeks. The whole process will therefore take around 9-11 weeks.
In any case where your California corporation is to engage in regulated business, including agriculture, alcoholic beverages, aviation, firearms, ammunition and explosives, fish and wildlife, commercial fisheries, maritime transportation, mining and drilling and etc, additional licence or permit may be required. Kaizen can help you apply for those licence. Our fee for this service will be quoted upon request.
A California corporation must file Statement of Information to California Secretary of State and pay franchise tax California Franchise Board each year. Kaizen will handle the basic annual renewal for your California corporation for a fee USD900, including provision of registered office, registered agent, and Statement of Information filing. Please note that this service fee does not include accounting, income tax filing and at least USD800 franchise tax. We will send a renewal notice to you 2 months before the due date.
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California Corporation Incorporation and Bank Account Services and Fees
Our fee for handling the incorporation of a corporation in California, USA and the opening of a business account in New York is USD3,680, including the following services:
(1)
California Corporation Pre and Post Registration
- Answer your questions regarding the registration and maintenance of a corporation in California;
- Perform name availability search;
- Pay registration filing fee to California Secretary of State;
- Standard Bylaws in California;
- Minutes of first meeting of board of directors;
- File Statement of Information within 90 days after registration;
- Compile board resolution for opening a business bank account, if applicable;
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Customize a corporate kit, including a metal corporate seal, stock certificate, register of shareholder, register of director, and stock transfer ledger etc.
(2)
Registered Address and Registered Agent for the first year
Kaizen will provide a registered address and a registered agent in California State for one year in compliance with the requirement of Secretary of State of California State for the purpose of registration of company.
(3)
EIN Application
Employer Identification Number (EIN), also known as Federal Employer Identification Number (FEIN), or Federal Tax Identification Number (FTIN), is a business identification number just like a Social Security Number (SSN) for your personal identification number. The EIN number allows you to communicate with the Internal Revenue Service (IRS) in the dealing of all the tax matters of your California company. The EIN is also needed for bank account opening.
The EIN is issued by the Internal Revenue Service (IRS) upon application. The IRS normally takes around 3 weeks to process an application. Expedited service is not available. Kaizen will notify you through Email upon receipt of the EIN from the tax authority.
This EIN is required by the bank for the purpose of bank account opening and therefore we include this item into our package.
(4)
Application for ITIN
ITIN (Individual Taxpayer Identification Number, ITIN) likes Employer Identification Number (EIN) mentioned above and Social Security Number (SSN), it is a tax identification number issued by IRS to non-resident alien who is required to file a U.S. tax return. The processing time is about 6 to 8 weeks, and it may take up to 12 weeks during tax season (Jan - April). Kaizen will notify you through Email once received the ITIN from the tax authority.
For the purpose of opening a business bank account in U.S., the responsible person of a corporation is required to obtain an Individual Taxpayer Identification Number (ITIN) from Internal Revenue Service (IRS). Therefore, we include this item into our package. But please note that this package only includes the application for one ITIN. If there are two or more director, an ITIN for each of the additional directors will be required and our fee for application of the additional ITIN is USD800 each.
(5)
USA Bank Account Opening
Kaizen can help you to open a business bank account in New York for your California corporation. The service includes preparation of required documents and onsite assistance. The director of the corporation may be not required to attend the bank in person. A US address in the name of the director of your California corporation (arranged by Kaizen) is also required.
Kaizen is limited to providing introductory and assistance services Since the bank has the sole discretion to approve the application for opening an account, the success of account opening is NOT guaranteed. Kaizen will not bear any responsibility if the bank does not approve the application.
Notes:
(1)
Our fee quoted above does not cover courier charge, if any;
(2)
Our fee quoted above excludes the taxes. If tax invoice is needed, value-added tax at the prevailing rate may be charged and collected.
(3)
This package includes the application for one ITIN only. If there are two or more director, an ITIN for each of the additional directors will be required and our fee for application of the additional ITIN is USD800 each.
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Payment Time and Method
We currently accept Hong Kong Dollar check, cash or TT and credit card through PayPal only. If payment is settled through PayPal, extra 5% services fee will be charged. Upon receipt of your order, we will issue an invoice to you for your settlement. Because of the nature of services, we require full payment in advance. Also, once service is commenced, no service fee will be refunded except special cases.
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Fundamental Structure of a Corporation in California
(1)
At least one incorporator, can be a shareholder or officer;
(2)
At least one shareholder. The shareholder can be a legal entity or natural person, without nationality limitation;
(3)
At least one director. The director must be a natural person;
(4)
At least one officer (Chief Executive Officer, Chief Finance Officer, or Secretary). The officer must be a natural person;
(5)
The director or officer can sign legal documents on behalf of the corporation and record minutes of meetings;
(6)
No minimum registration capital requirement.
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Documents Required to Corporation Incorporation and Bank Account Opening
You should offer the following documents to Kaizen:
(1)
Passport copy and residential address proof (utility bill, phone bill, or bank statement, etc for the most recent 3 months) in respect of each shareholder, director, officer (and secretary, if requested) of the Corporation. If the shareholder is a legal entity, please provide the entity’s registration document and the identification and residential address proof of each shareholder holding 10% or more shares in that company;
(2)
An organisation chart of the shareholder is another Corporation;
(3)
Duly completed “California Company Incorporation Order Form” provided by Kaizen;
(4)
Certain business proof in the name of the new California corporation, for example, a (goods) purchase and sales agreement or service agreement or a business plan or a company brochure;
(5)
The EIN of your California corporation (for bank account opening), included in this package;
(6)
The ITIN of the manager of the California corporation (for bank account opening), included in this package;
(7)
A US address in the name of the responsible person/manager of your California corporation (arranged by Kaizen).
The identification and address proof, mentioned in (2), should be certified or notarized by Kaizen, local notary at the place of the shareholder and manager, lawyer, CPA, or bank manager. If the documents above are in other languages except English, translation is required.
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Procedures to Register a Corporation in California and Open a Bank Account in U.S.
We can finish the registration of a corporation in California in 5 business days, starting from the date we receive the duly signed registration application documents. Then, the applications for EIN and ITIN will take up to 8 weeks. The bank account opening will take up to 2 weeks. Therefore, the whole process for both the company registration and bank account opening could take around 9-11 weeks. The registration procedures and timeframe are listed in the table below.
No.
Description
Time
(Days)
1
Kaizen was entrusted to handle the Corporation registration in California; you should fill out the order form, “Due Diligence document”, and other documents (listed in Part 4), then E-mail the whole package to Kaizen. Meanwhile, Kaizen service fees should be paid at this point;
Client schedule
2
Kaizen arrange with client to have the identification documents of the shareholder/director of the corporation verified by Kaizen. Client can also arrange the verification by other CPA or lawyer or attesting officer.
Client’s schedule
3
Kaizen will check the name availability at California registration office;
1
4
Kaizen will compile the required documents, including the Certificate of Incorporation and a set of standard bylaws;
1
5
Kaizen will send the documents mentioned in (4) to you to review and confirm the accuracy;
1
6
Kaizen will submit the Articles of Incorporation to California registration office and pay the registration filing fee. The officer will review the document, and mail to Kaizen the sealed Certificate of Incorporation with filing date and filing number within 5 business days, if approved;
5
7
Kaizen will customize the corporate kit, such as order the metal corporate seal, prepare register of directors, register of shareholders, and share certificate, etc.;
7
8
Kaizen will arrange to submit Statement of Information within 90 days after the Corporation incorporation;
1
9
Kaizen will arrange to apply the EIN, if being engaged to do so;
10-15
10
Kaizen process the application for the ITIN.
30-45
11
After the above procedures are completed, Kaizen will deliver all the documents to you at the address designated.
1
12
Kaizen arrange with the bank and the client and the client come to California to meet with the bank and open the bank account.
Client’s schedule
Note:
(1)
The schedule above assumed that no application for license or permit is required.
(2)
Currently, we are able to help you to open a bank account for your California State corporation without your physical presence in U.S.
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Documents for You After the Incorporation
After all the incorporation procedures are completed, the following documents will be mailed to you for your retention:
(1)
Articles of Incorporation sealed by California Secretary of State;
(2)
Standard bylaws in California;
(3)
Statement of Information sealed by California Secretary of State;
(4)
Corporate seal customized with the Corporation’s name;
(5)
The minutes book, register of shareholders, register of directors, and stock transfer ledger (if any), etc.;
(6)
Minutes of first meeting of Board of Directors;
(7)
10 pieces of blank Stock Certificates;
(8)
EIN letter, if any;
(9)
ITIN letter, if any;
(10)
Certificate of Incumbency and certified copy of registration document, if any.
The above documents are also available for pick up in any Kaizen offices.
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Basic Annual Renewal
A California corporation should file Statement of Information to California Secretary of State and pay franchise tax California Franchise Board each year. This is known as basic annual renewal. Kaizen will handle the basic annual renewal for your California corporation for a fee USD900, including provision of registered office, registered agent, and Statement of Information filing. Please note that this service fee does not include accounting, income tax filing and at least USD800 franchise tax. We will send a renewal notice to you 2 months before the due date.
Other than the basic annual renewal requirements stated above, a corporation is also required to operate in compliance with the California General Corporation Law. For example, keeping all the vouchers and receipts, filing income tax return, and file annual report, etc. Kaizen U.S. office is a professional CPA firm, offers complete compliance services and business support, such as bookkeeping, financial statement audit, filing tax return, making payroll, etc. please reach out and discuss with our professional consultants for details.
If you wish to obtain more information or assistance, please visit the official website of Kaizen CPA Limited at www.kaizencpa.cn or contact us through the following and talk to our professionals:
Email: info@kaizencpa.com
Tel: +852 2341 1444 (Hong Kong); +86 755 8268 4480(Shenzhen); +86 21 6439 4114(Shanghai); +86 10 6210 1890(Beijing); +1 646 850 5888 (U.S.); +65 6438 0116 (Singapore)
Mobile : +852 5616 4140, +86 152 1943 4614
WhatsApp/ Line/ WeChat: +852 5616 4140
Skype: kaizencpa
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