Legal Bueno

    How to Start Your LLC in Virginia

    Legal Bueno helps with everything you need to start your business. We take care of all the paperwork so you don't have to worry about it. Want to learn more about the process we handle? Keep reading!

    Quick Summary:

    • Filing Fee: $100
    • Turnaround time: 2-5 business days

    How do I start an LLC in Virginia?

    Thinking about starting an LLC? The process is pretty similar across the states. You'll start by picking a unique name for your business (you'll need to check to make sure it hasn't been taken!) and then filing some paperwork—usually called Articles of Organization or a Certificate of Formation—with your state's agency.

    If you want to check the name availability for Virginia, visit https://cis.scc.virginia.gov/EntitySearch/Index.

    After that's taken care of, you'll want to draft a governing doc for your business called an operating agreement & find any licenses you might need. Just keep in mind that each state has its own little quirks, so it's always a good idea to double-check specific requirements for your area.

    What are the costs & processing times of starting a business in Virginia?

    Here's the rundown for Virginia:

    • The filing fee is: $100
    • There are ongoing fees of $50 (every year)
    • It usually takes 2-5 business days if you're filing online or 2-5 business days (plus mail time) if by mail.

    Why Virginia is a great state for your LLC

    Starting a company in Virginia offers numerous advantages that make it an attractive option for entrepreneurs. Here are some key benefits:

    • High Business Ranking: Virginia was ranked the #4 best state for business in the U.S. in 2019, reflecting a favorable business environment.
    • Strategic Location: Virginia's proximity to Washington D.C. places it within 745 miles of 56% of all U.S. consumers, allowing businesses easy access to a large market.
    • Simplified Business Structure: Forming a limited liability company (LLC) in Virginia is straightforward and efficient. This structure is particularly suitable for startups and small to medium-sized businesses.
    • Liability Protection: An LLC separates personal assets from business liabilities, protecting owners from personal financial risk related to business debts.
    • Tax Advantages: Virginia LLCs benefit from simplified tax filing processes, with potential advantages available for tax treatment.
    • Low Formation Cost: The initial cost to file for an LLC is only $100, making it a cost-effective option for new entrepreneurs.
    • Flexible Business Options: If an LLC doesn’t align with your business needs, Virginia also allows for the formation of corporations, providing flexibility in business structures.

    These factors combine to create a conducive environment for starting and growing a business in Virginia.

    Legal Requirements

    Remember! Legal Bueno will handle all of these requirements for you, but if you're interested, here are the legal requirements for Virginia:

    Articles of Organization

    The articles of organization must include:1. A name for the LLC;

    1. The post office address of the LLC's initial registered office, the name of the city or county in which it is located, the name of its initial registered agent at that office, and that the agent is either (a) an individual who is a resident of Virginia with specified characteristics or (b) a domestic or foreign stock or nonstock corporation, LLC or registered limited liability partnership authorized to transact business in Virginia; and
    2. The post office address of the principal office of the LLC, which may be the same as the registered office, but does not need to be in Virginia.

    The articles of organization may include any other matter that may be set forth in an operating agreement.

    If the corporation commission finds that the articles of organization comply with the requirements and that all required fees have been paid, it will issue a certificate of organization.

    Va. Code § 13.1-1011

    Filing fee: $100

    Va. Code § 13.1-1005

    Filing Process

    After you've prepared the initial formation documents, you need to file it! Here is what Virginia laws require for filing:

    A document permitted or required to be filed with the corporation commission must:1. Be typewritten or printed or, if electronically transmitted, in a format that can be retrieved or reproduced in typewritten or printed form. The typewritten or printed portion must be in black. Photocopies, or other reproduced copies, of typewritten or printed documents may be filed.

    1. Be in the English language. An LLC name need not be in English if written in English letters or Arabic or Roman numerals. The articles of organization required of foreign LLCs need not be in English if accompanied by a reasonably authenticated English translation.
    2. Be properly executed;
    3. Be in or on the prescribed form, if required by the Commission;
    4. Be delivered to the Commission for filing accompanied by the required fees.

    Va. Code § 13.1-1003

    Additional Legal Considerations

    Here are some additional relevant laws that might be useful when operating your business in Virginia:

    Operating agreement

    Va. Code § 13.1-1023

    Remedies for breach of operating agreement by member or manager

    Va. Code § 13.1-1023.1