The annual maintenance costs may vary depending on your particular business operations. However, the usual annual cost breakdown is as follows:
(1) Certificate of Incorporation — a document filed with the State of Delaware that evidences the formation of your C-corporation.
(2) Bylaws — the internal governing document for your C-corporation, which outlines the powers and duties of the stockholders, directors, and officers.
(3) Initial Board Resolutions — the document commonly used for initial stock distribution, officer election, and setting up the company's operations.
(4) Founder Stock Purchase Agreement — an agreement under which the founder assigns his intellectual property to the company in exchange for the company’s shares. Comes in two versions – with or without vesting.
(5) Proprietary Information and Invention Assignment Agreement — an agreement by which founders, employees, advisors, and others assign to the company the intellectual property and other proprietary rights they create while performing work for the company.
(6) Capitalization Table — a spreadsheet that lists all stockholders of the company, the number of shares they hold, and their ownership percentages.
(7) Statement of Incorporator — a document that appoints the initial directors of the C-corporation.
(8) EIN Notice — an official letter from the IRS assigning your company an Employer Identification Number.
(9) Beneficial Ownership Information Report — a document required by the Corporate Transparency Act that identifies the individuals who own or control a company, helping to prevent money laundering and other illicit activities.
No, the company formation and bank account opening process can be completed entirely online by citizens or residents of any country, except those permanently residing in sanctioned jurisdictions.
A DAO LLC operates through smart contracts and blockchain governance, whereas a traditional LLC is managed by human members or managers.
DAO LLCs have unique requirements, including the public disclosure of their smart contract or governance structure. Because of this, you should have your DAO smart contract address ready before registering your company. If you don’t have one yet, consider exploring the following options: