South Carolina Certificate of Authority: How Important To Have This For Your Business

 

 

In South Carolina, there are three ways to obtain a certificate of authority to do business in the state. Different requirements depend on whether the applicant is an individual, partnership, corporation, limited liability company, or trust.

The most common way to obtain a certificate of authorization is to apply online. This method allows applicants to submit documents electronically. However, it requires some legwork because the forms are quite lengthy.

Another option is to go into the secretary of state’s office and fill out paper applications. This method is still fairly easy to complete, but it takes a lot of time to gather all the necessary information.

Finally, one can hire a lawyer to help with the paperwork. Lawyers can guide the best route to follow based on the type of entity being formed. They can also help draft the appropriate documentation needed to complete the process.

What exactly is a South Carolina authority certificate?

A South Carolina certificate of authority (COA) is required if you want your company to do business in South Carolina. This includes banks, mortgage companies, insurance agencies, utilities, contractors, and many others. If you are planning on opening a bank account, applying for a loan, or getting a credit card, you will probably need one. Companies must file an application with South Carolina’s Secretary of State before doing business in South Carolina. Once it’s complete, send it to the address listed on the form.

South Carolina requires businesses to obtain a certificate of authority. They must pay $50 annually. Businesses must renew every three years. To find out what type of COA is needed, check with your local county clerk.

When do I need a certificate of authority?

A certificate of authority (CA) is required if you want your business to operate legally in another state. You must obtain a CA from the appropriate licensing authority in the state where you plan to operate. This includes obtaining a federal employer identification number (EIN), registering a trade name, and applying for a tax ID number.

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Opening an office or physical location isn’t enough to establish a branch office. If you are hiring employees, you don’t need to submit paperwork to the local licensing authority. However, you still need to register your business with the Secretary of State.

Before starting a contract or a new job, you don’t necessarily need a CA. Many contracts and jobs require a CA because it protects both parties from fraud. For example, if you hire someone to work remotely, you’ll need a CA to protect yourself against identity theft. In addition, many states require a CA to issue licenses, such as those needed to sell alcohol or firearms.

Licensing authorities will usually require you to submit a CA. They use the information contained within the document to verify your legal status.

How can I obtain a certificate of authority in South Carolina?

If you want to register a corporation in South Carolina, you’ll need to follow the state’s requirements. You’ll need to file an application with the Secretary of State, pay the fee and provide proof of incorporation in the form of a certified copy of your articles of incorporation. Once you’ve done those things, you’ll receive a Certificate of Authority.

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For Foreign Corporations:

Foreign companies are required to file an annual report with the state where it does business. This includes information about the company’s name, address, shareholders, board members, officers, directors, number of employees, and assets.

The document must be filed within 30 days of incorporation, and there is no fee associated with the process. However, if the company fails to file the form, it could face fines.

A copy of the corporation’s Articles of Incorporation or Charter must accompany the filing. These documents outline the organization’s purpose, how many shares exist, what type of ownership exists, and whether the company is incorporated for profit or nonprofit purposes.

An original corporate seal must be affixed to the form. This is typically done by having a stamp applied to the bottom left corner of the paper.

For Foreign Limited Liability Companies:

Foreign limited liability companies (LLCs) are required to obtain a certificate of good standing in South Carolina before conducting business here. The law requires foreign LLCs to register with the state and obtain a certificate of good standin…

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The following article originally appeared in the November 2018 issue of SC Magazine.

SC Magazine is pleased to announce the publication of its annual Best Places to Work in South Carolina survey. Each year, we ask our readers to tell us about the best places to work across the Palmetto State. We received hundreds of nominations and narrowed down the list to 10 finalists. Now it’s up to you to decide who takes home the coveted award.

Foreign Nonprofit Corporations:

A foreign nonprofit corporation must file a statement of authority to transact business in the state of South Carolina. This form is called a Certificate of Good Standing.

The filing fee is $50 per corporate name. You cannot use a post office box address.

To obtain a certificate of good stand, all foreign corporations must also pay a fee of $150.00.

Please contact our office if you are interested in obtaining a certificate of good standing for a foreign nonprofit corporation.

 

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Foreign Professional Corporations:

A foreign corporation must file an Application for Authority to Transact Business with the South Carolina Secretary Of State if the corporation does NOT already hold a Certificate of Good Standing issued by another state or Country.

The purpose of applying is to ensure that the corporation is authorized to conduct its business activities in South Carolina. To obtain a Certificate of Authority, a foreign corporation must submit an application form, pay $25, and provide proof of incorporation.

Foreign Limited Partnerships:

A foreign limited partnership must file a Form SCF-1 Application for Registration with the South Carolina Secretary Of State’s office. The filing fee is $10.00. There is a requirement to show proof of authorization to do business in South Carolina. This includes a Certificate of Good Standing showing that the foreign limited partnerships have been authorized to transact Business in South Carolina.

Foreign Limited Liability Partnerships:

A foreign limited liability partnership must apply for authority certification to do business in South Carolina. This certificate will allow the entity to conduct business in the State without obtaining a separately filed license or registration.

The filing fee is $10 for each foreign limited liability partnership member.

 

 

Frequently Asked Questions

How much does a certificate of good standing cost?

In South Carolina, ordering a Certificate of Good Standing costs $10. A certificate is required for anyone wanting to open a bank account, operate a motor vehicle, obtain a driver’s license, file a lawsuit, start a corporation, become a licensed contractor, register a trademark, sell real estate, apply for certain licenses, etc. To order one, you must go to the Secretary of State’s office, pay $10, fill out a form, and wait up to five days for it to arrive.

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The law requires every state to issue certificates; however, some states charge fees ranging from $5 to $25. Some require no fee, while others charge based on how many people file the same day. Fees vary widely because each state sets its own rules. For example, the fee is $15 per person in North Dakota. In New York, the fee is $20. And in Mississippi, the fee is $30.

How soon do you need a certificate of good standing?

Many businesses are required to obtain a Certificate of Good Standing (CGS) in order to open a bank account or file insurance claims. In some cases, obtaining a CGS is mandatory for doing business with certain financial institutions. However, there are situations where it is not necessary to obtain a CGS. For example, if you are opening a checking account with a local credit union, you don’t need a CGS. You just need to provide proof of your identity. If you’re filing insurance claims, you’ll need a CGS regardless of whether you are submitting claims online or offline.

If you plan to apply for a loan, mortgage, credit card, or another type of financing, you’ll most likely need a CGS. A CGS is typically obtained within 30 days of applying for the loan or closing on the sale of the property. If you are selling real estate, you must have a CGS in place prior to listing your home for sale.

Where do I find a certificate of good standing?

The South Carolina Secretary of State’s office offers a free service where you can register yourself and/or your business. This includes obtaining a certificate of good standing, a legal document that proves you are a legitimate entity. You must provide proof of citizenship, residency, and business registration. Once this process is complete, you will receive a paper copy of your certificate of good standing.

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