If you are trying to form a Florida LLC, then take note that in this state, starting an LLC requires having a registered agent who will handle all official paperwork on the LLCs behalf. On this page, we’ll discuss how you can choose your Florida registered agent.
On this page, you’ll learn about the following:
Florida Registered Agent Requirements
There are certain requirements to fill the role of a Florida registered agent:
- The nominee must be more than 18 years old.
- The individual must have a legal, physical address in the state where the LLC will operate.
- The individual must be physically present during normal working hours.
How to Choose a Registered Agent?
When you file your Certification of Formation in Florida, you must nominate a registered agent. You can either appoint an in-house registered agent (yourself or any LLC member) or outsource a Florida registered agent service.
You can elect your registered agent online through the Florida Secretary of State website.
Hiring an Inhouse Registered Agent
When hiring an in-house registered agent, make sure the individual is over 18 of age and lives in Florida.
Can I be my own registered agent?
Yes, you can be your own registered agent. So long as you meet the basic requirements for a registered agent, then you can take on this role for your LLC.
Outsourcing a Registered Agent
You may, instead, get professional registered agent services. Doing so ensures that you will have the best individual to represent your business. Here are three of the best LLC services on our list that will provide you with registered agents to ease your worries.
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$49 + State Fees
$299 + State Fees
$399 + State Fees
Note that availing of the services of professional registered agents would be your best option since you are guaranteed that whoever is handling your legal affairs knows their stuff well. You will enjoy peace of mind and focus only on running your business, as the ‘professionals’ take care of all legal matters.
What to Consider When Choosing a Registered Agent
Here are some factors to consider when choosing a registered agent.
- Service Fee: Since most states require formal businesses to have registered agents, selecting the best-registered agent is critical. Hiring a registered agent service typically costs between $50 and $300 annually. When you consider how much time it will save you, this is a small price to pay.
- Tenure in Business of Registered Agent: You want the registered agent to have established and time-tested procedures for handling documents that are received.
- State Jurisdiction Limitation: If your company expands to another state, you should use the same registered agent in all states to reduce the administrative burden of dealing with multiple registered agent service providers.
- Offer Monitoring and Follow-up Services: You want to receive up-to-date information and alerts from your registered agent as soon as possible so that you are aware of the various statutes, rules, and regulations that apply to your company.
Florida Business Laws for Registered Agents to Note
Registered Agents handle all the business-related legal affairs of your business and other legal issues of a foreign LLC in Florida. Every state has its own set of established business laws. Florida also has a well-formed set of business laws to follow. Here are the significant business laws that require mandatory compliance by every business entity.
- Antitrust Laws: Antitrust laws aim at countering anti-competitive practices in an open market, such as strict punishment and penalty against forming cartels or creating barriers for new entrants in the market. The Florida Federal and State laws protect their consumers from such unethical activities that influence the competition in the market. Antitrust laws are invoked in situations that hint at monopolization of a relevant market domain.
The two significant federal laws are the Sherman Act and the Clayton Act. Under the Statutes of Limitations, an antitrust claim can be raised within 4 years. A successful Plaintiff can also recover the Attorneys’ fees.
- Interest Rate Laws: Every state in the United States has an Interest law for businesses. Normally, the general interest rate guidelines are less than the legal threshold of interest rate. Florida has laws to limit the interest rates and significantly high interest rates are considered illegal and open to criminal prosecution.
For loans, Florida has capped the interest rates at 18% for loan amounts up to $500,000 and 25% for a greater amount annually. Certain exceptions are also put in place for interest for certain businesses and making loans.
The penalty for usury (Unlawful Interest rate) is well established with credit at the rate of 25-45% with a penalty of up to 60 days in prison and $500 fine; around 45% for 3rd-degree felony and if the loan is criminal, debt is not legally enforceable.
- Civil Statute of Limitations: The Statute of Limitations guides the time limit for filing any lawsuit or civil actions. The laws are intended to bring fairness in the filing of lawsuits. The statute of limitations in Florida generally ranges from two years to four years.
For written contracts, the time limit is 5 years, and 1 year for specific performance and 4 years for oral contracts.
- Deceptive Trade Practices Laws: Florida laws aim to protect their residents from unfair business practices. Such practices mislead the consumers into investing in invaluable market products by selling them with twisted statements and lies such as false advertising.
The State Statute is the Florida Deceptive & Unfair Trade Practices Act, which forbids false advertising and has strict penalty and punishment prescribed for such prohibited activities, for instance, 2nd degree misdemeanor, injunction, damages, and up to $10,000 for civil penalties for each violation.
The Registered Agents are the people who act as points of contact between your business and the State Compliances. They assist your business in ensuring compliance with all regulations and codes of the State. Hiring a registered agent in Florida will help you handle your business in a smooth and legally compliant manner.
All corporations and limited liability companies doing business in Florida are required by state law to appoint a Florida registered agent. Florida registered agents provide a reliable way for the Secretary of State and state courts to contact a corporation or LLC.
A registered agent is simply a person or entity appointed to accept service of process and official mail on your company’s behalf who lives in the state of service and is over 18.
If you intend to be your own registered agent, you may be forced to use your home address (especially if you run a home-based or web-based business), making the address public.