State of Virginia LLC Requirements
Virginia is one of the best states to
operate a small business and the State of Virginia LLC Requirements Make it
Easy
Virginia LLC
Requirements
(Virginia Limited Liability Company):
Names:
The Virginia LLC name must
contain
the words "limited company"
or
"limited liability company"
or the abbreviation L.C.,
LC, L.L.C.
or LLC.
The
name cannot contain any word or phrase that indicates or implies
that it is organized for the purpose of
conducting
any business other than a business which it is authorized to
conduct. State of Virginia LLC requirements prevent the name of a
Virginia limited liability company from being the same or deceptively similar to any
active domestic or
foreign
Virginia LLC or Virginia corporation filed with the state.
Registered Agent:
Every Virginia LLC must list the registered agent. State of Virginia
LLC requirements impose relatively strict standards for a Virginia
registered agent. The registered agent must
have a permantent legal address in
Virginia.
PO Boxes and mailbox services similar to the UPS Store are not valid
addresses for Registered Agents
unless the town population is less than 2,000 or if no street
address or
rural
route and box number is associated
with the
registered
office location. The Registered Agent must also meet certain
other requirements. Click here for more details on the
Virginia LLC requirements for a
Virginia
Registered Agent.
Physical Address:
State of Virginia LLC requirements mandate that the principle office address
of a Virginia LLC be included in the Articles
of Organization.
Members: State of Virginia
LLC requirements allows a Virginia LLC to only have 1 Member but a
Virginia LLC can have as many members as it chooses. There are no
restrictions on who can be a Member. So, any individual,
corporation, trust, partnership or another LLC may be an owner
(Member) of a Virginia LLC.
Operating Agreement:
While State of Virginia LLC requirements do not specifically require a written
Virginia LLC Operating
Agreement, many of the Virginia LLC laws contemplate that a Virginia
LLC has an Operating Agreement. An Virginia LLC Operating Agreement is the
most important document for an LLC from a business and practical
perspective as it establishes the owners of
the Virginia LLC and a management structure for an LLC.
Management:
State of Virginia LLC
requirements set forth two general management structures for a Virginia LLC: member managed or manager managed. If your
Virginia LLC is going
to be manager managed, your formation document should state that the
LLC is manager managed and have other important provisions regarding
management.
Business Purpose: For a regular (non-professional) LLC,
the State of Virginia LLC requirements do not required that a business purpose be set forth in the Articles
of Organization. If your LLC is a professional Virginia LLC (a
Virginia PLLC), then the
nature of the professional services must be included in your
Virginia PLLC's
Articles of Organization.
Ask A Question or Contact Virginia
Business Formation
|
