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Updated about 8 years ago on . Most recent reply
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What address to use to establish out of state LLC
Hello
I live in Ohio, but I am right next to West Virginia, and the bulk of my investing will probably be in West Virginia. I purchased one rental property in West Virginia last month and am under agreement to purchase one more. I am starting to consider moving these properties to an LLC for asset protection, a step that I knew was necessary later down the road, but which I punted on while getting started.
I planned to establish an LLC in the state of West Virginia and put the properties in it. However I realized that I need a physical address in West Virginia in order to use to establish an LLC there. What is the best thing to do?
a) Use the rental property I already acquired as the physical address of the LLC (seems like it would be difficult to reliably collect mail there after it is rented)
b) Contract a private company, such as UPS, to provide a physical address in West Virginia for the LLC. I have absolutely no idea how much such a thing would cost (UPS website says to contact the individual store for pricing)
c) Contract a private agency, such as Harbor Compliance, to be the resident agent in West Virginia. I googled "Registered agent in West Virginia" and found Harbor Compliance, their website describes a charge of $99/year for this service.
d) File the LLC in Ohio or some other state and transfer the property physically located in West Virginia to it without otherwise being a registered entity in West Virginia. I understand this to be completely illegal, just making sure that is that correct?
e) Try to get a friend or family member to be the resident agent? Seems like a very bad idea...
f) Don't bother with setting up LLCs for now, perhaps wait later for better economies of scale compared to the cost of procuring an address