All Forum Posts by: Christopher Lopez

Quote from @Carrie Young:

I would go with Wyoming entity all day long! Corporate Direct https://corporatedirect.com/co...can help you set one up. You are fussing over a few hundred dollars when it could prevent so much heartache down the road. Also, if a lender doesn't like that it is a Wyoming entity when you go to set up your bank account, find another lender. Frost Bank here in Texas will do it, but Chase would not, for example. Good luck!

I agree, not harping on the few hundred to save in the future, but the quotes I’ve received have ranged from a few hundred to several thousand. 
Corporate Direct being in the upper-middle range of that.

So it’s not so much about the money but rather not being taken for a ride, while ensuring that the entities are formed correctly on the first attempt. The more I inquire the more is divulged and seems that with one of the services they even seem to agree that either they were ill-equipped to perform the services or this is much more complex than it seems on the surface.

They stated: “The thing that is different with Arkansas over some of the other States, is that if you want an Entity listed as the Member, the Entity MUST be formed in Arkansas, which this make things a lot more complicated.”

 So trying to see the correct way to form this has become a little more intricate it seems unless I’m missing something.

Quote from @Ryan Blackstone:

I can't speak to much here, but I do know on our Articles of Organization, you do have to name "officers" and that is where I can find people. Or I have to go 2-3 addresses deep because you have to put down an address. So, I typically see who owns the "agent address" and that allows me to track down the owner. Some clients of mine have formed Delaware LLC's to hide.

My questions would be: What would be the purpose to you to form an Arkansas LLC? and How much protection are you really wanting? In my opinion, I wouldn't form an Arkansas LLC. if you like WY, why not form one there and have the benefactors be the personal LLC's?

I am interested to hear others thoughts. 

Biggest item is the anonymity. 
secondary would be the charging laws that WY offers.

I figured to have an entity formed in AR because if not from my research you would need to qualify a foreign entity in AR so figured it might be easier to just form an AR LLC to hold the prop, and then it roll up into a WY that would function as a HoldCo of sorts and ultimately achieve my goal.

will note that tertiary to this would be protection from each of us internally. Hence the subset of LLCs being ultimate BOs.

I’m willing to listen to other ideas tho  

Hi all, 

I am looking to take down a 12U MF project in Arkansas. I am doing this with a partner who lives in AR, and I live in FL.

We both have LLCs in our respective states. Our original plan was to form an entity in AR that would own the property, then have a WY LLC own that to increase the protection but mostly have the anonymity with our respective LLC being ultimate Beneficiaries.

I reached out to a few services that were suggested here on BP. Some were outrageously priced imho, but when questioning further, one hit me with the below response if anyone here has had some experience with this type of formation in AR that can offer some insight i would greatly appreciate it!

Best,

Chris

Response from registered agent service:

I have been looking more into Arkansas and have found out some additional information from our Filing Team. With Arkansas, you are not required to list the Member information on the Articles of Organization. The Member information is required for the Annual Reports, but this information is kept confidential.

The thing that is different with Arkansas over some of the other States, is that if you want an Entity listed as the Member, the Entity MUST be formed in Arkansas, which this make things a lot more complicated.

With this being said, I am not sure if you would still want to pursue the Wyoming Entity. I would advise that you talk with an Attorney or a CPA to make sure you are structuring this as needed.