Definition of Qualifying as a Foreign Corporation Illinois
- A foreign entity is an entity registered under the laws of a state or country other than Illinois and wants to transact business in the state of Illinois as a foreign corporation.
- An out of state entity must acquire permission from the Illinois secretary of state to start business of procuring an authority to transact business in the state of Illinois.
- Same corporations provisions and laws apply to Illinois foreign corporations as business corporations are domestically registered in Illinois.
How to apply a Foreign Corporation in Illinois?
- Form BCA 13.5 will be submitted to the Illinois secretary of state to open a branch office in Illinois.
- A certified copy of the out of state or home entity, company will be submitted along with the certificate of authority application to confirm that the company is officially registered in the home state with the secretary of state. Generally, home state, secretary of state issues a certified copy to establish an out of state entity to transact business. Certified copies must not be 90 days older.
- You have to provide Corporate name, Registered agent address and name of the person or commercial entity will serve you a registered agent, Corporate purpose.
- Articles of corporation of the home state or country must be translated in English, if it is in any other language.
What happened, if the foreign entity name is not available in the state of Illinois?
You have to register an assumed name, if the entity name is not available and will be sent along with the certificate of authority application to transact business in Illinois.
How to maintain a certificate of authority in Illinois?
- Franchise taxes and annual reports must be filed in order to keep your foreign entity in good standing to operate in Illinois.
- Failure to file annual reports may become a cause of your foreign entity revocation.
