Home - services - Everything To Know About Registered Agents
Everything to know about registered agents

Everything to know about registered agents

A registered agent is a person or organization that serves a corporation, a limited liability company, a limited liability partner, or a limited partnership by receiving official papers on the business’s behalf. Appointing a registered agent is one of the compliance requirements of running a business. As this is an essential part of setting up a business, it requires careful consideration. So, here are some of the functions, processes, and services of a registered assistant.

Functions of a registered agent
This person or organization is appointed by the business and follows instructions and authorization of the body to receive legal documents presented to the business. This also involves receiving all official communication from the government regarding the business. Communicating with the registered agents is as good as communicating with the companies directly as they have the authority to represent the business. One of the main and most essential functions of an RA includes receiving and then forwarding the “service of process” to the right person in the corporation. Usually, the appropriate person to whom this document is forwarded is the lawyer of the company; however, in some cases, a company official will receive the document to send to the lawyer.

Service of process
This is a procedure in which one party gives legal notice to another party and provides an appropriate time to respond. All organizations should have a lawyer based on the understanding that every company could possibly be involved in a lawsuit. So, it is important to put procedures and the right people in place to handle such situations.

Need for a registered agent
According to law, the states make it mandatory for companies to appoint registered agents. This is done to ensure that when a legal document is served to the company, it is given to a responsible authority to ensure it reaches the right person. It is important to follow such procedures to file a timely legal response, which can only be ensured when the documents are presented in a given amount of time. The government’s statutes and rules try to ensure that companies hire registered agents to have a dedicated person who can receive the “service of process”.

Appointment process
The appointment of the registered agent is accomplished by adding their name and address in any of the following documents:

  • Articles of organization
  • Statement of LLP registration
  • Articles of incorporation
  • Certificate of limited partnership

In some companies, the signed consent of the registered agent is also required to avoid any loopholes, and if you are changing your RA, you need to inform the State.

Corporation without RAs
In such cases, states are forced to penalize the organization for non-compliance. The companies may also lose their license to do business in the region. It is important to comply with the law by hiring a responsible RA to avoid getting caught in a complicated legal matter, as it will make business difficult to sustain.

Hiring a top-registered agent to handle legal proceedings for a business in Mexico is always a good idea. Several business owners prefer Northwest Registered Agent, Zenbusiness, and Incfile. You can also consider other legal agencies like LegalZoom and Rocket Lawyer.

Mexico is the second-largest economy in Latin America and a hotspot for entrepreneurs looking to set up their LLCs. The best part is that only two shareholders are required to set up an LLC in Mexico. If you are looking to set up your LLC in Mexico, a reputed registered agent can guide you with the end-to-end process. So, consult a registered agent, and welcome new entrepreneurial beginnings in Mexico.

Latest Articles

5 mistakes to avoid when investing in a high dividend ETF
finance

5 mistakes to avoid when investing in a high dividend ETF

Exchange-traded funds (ETF) have been gaining popularity in the investment sector for some time now. Along with mutual funds, they have been one of the most preferred investment options among investors. With investors having pumped in billions of dollars in ETFs by now, these funds sure seem like a lucrative investment avenue. However, financial experts suggest treading this path carefully so as to avoid unforeseeable losses. Here are a few mistakes that you can avoid while investing in high dividend ETFs: Overlooking long-term investment Looking at long-term goals is the golden rule when it comes to any type of investment. However, seasoned investors invest in ETFs on a short-term basis through a type of trading called intraday trade. This type of trading allows the investors to buy and sell stocks and other investments on the same day. However, if not thought out carefully, investing in high dividend ETFs through intraday trading can result in lower returns and higher trading costs. Buying an ETF simply based on its name This is one of the most common mistakes people make when investing in high dividend ETFs. Investors may think that an ETF’s name provides an insight into its investment reach, i.e., whether the ETF has local or/and global investors. However, this is a ploy that ETF issuers often use to lure investors. Investing in an ETF based solely on its name can lead to disastrous investments. So understand an ETF’s underlying holdings and market objectives before making an investment. Investing in the wrong ETF Like every investment, almost every ETF is vulnerable to market trends and economic slowdowns. However, this does not mean that the particular ETF has failed. When an ETF liquidates, you might still receive some money (termination and other fees might be levied). But this may take a while and you may lose out on the time that could have otherwise been utilized to make other investments.
How to qualify for a reverse mortgage
finance

How to qualify for a reverse mortgage

A reverse mortgage provides the elderly access to equity in their homes and supplements their income. With its flexible repayment option, it gives homeowners more control over their money. However, the government has laid out strict rules and guidelines concerning reverse mortgage eligibility criteria. So, if you’re considering a reverse mortgage, read on to know the reverse mortgage eligibility criteria and the types of reverse mortgages. Reverse mortgage eligibility criteria The first criterion for a reverse mortgage is that the primary homeowner must be at least 62 years of age. If your spouse is under the age of 62, you might still be eligible if you meet other reverse mortgage eligibility criteria. If you’re not 62 or older than 62, then you won’t qualify for a reverse mortgage even if you satisfy the criteria mentioned below. You must be the primary resident of the home you’re seeking a reverse mortgage for. Note that vacation homes or rental properties do not qualify. You must either entirely own the house or have at least 50% equity in it. If you have any mortgage balance remaining while applying for a reverse mortgage, you must be in a financial position to pay off that balance. You must not be late or overdue on any debt from the federal government. This includes income taxes and federal student loans. If you have to pay off such debts, you may very well use the money from the reverse mortgage loan to settle these debts. You must already have enough money, or be willing to use the money from the reverse mortgage loan to pay property taxes, insurance, and home maintenance and repair costs. You must meet a Department of Housing and Urban Development (HUD)-approved reverse mortgage counselor to understand how a reverse mortgage works. During the counseling, the counselor will review your eligibility for a reverse mortgage loan and inform you of the financial ramifications associated with a reverse mortgage.
5 benefits of opting for debt settlement
finance

5 benefits of opting for debt settlement

Debt settlement can be a financial lifesaver for many. Managing debt is quite a difficult task. With every advancing payment due date, one may feel their finances getting tighter and tighter. Between paying for a house mortgage, student loans, credit card debt, personal loans, and many other debts, it is quite common to miss out on paying one payment. Although it may not seem like a big problem initially, this is not good for financial health in the long term. This is where debt settlement comes in. There are multiple benefits to availing debt settlement offered by some of the top 10 debt settlement companies. No more bills With debt settlement, no more bills will be incoming in the mailbox. Debt settlement results in the closure of a debt account by the creditor. In such cases, one will not be able to use their credit cards again. However, this can be beneficial since it will prevent further debt in the future. With debt settlement, there is a permanent erasure of debt. No more collection calls With mounting debt, the calls of creditors are always incessant. If one if falling behind on too many bills, they are bound to be subjected to creditor calls throughout the day. This can add to the stress of not being able to clear away all the dues. Plus, many collection departments are not known to be kind on calls. When a debt settlement is opted for, it will stop the incessant calls from the various collection departments. No bankruptcy risk Rather than filing for bankruptcy, debt settlement is a better option. With the bankruptcy filing, credit score can deteriorate quite significantly. In some cases, the credit score has slid down by nearly 200 points, taking a good credit score to bad credit score. The credit score lowers with debt settlement too.