Setting up a LLC in Indiana for out of state investors

6 Replies

Does anyone have experience setting up an LLC in Indiana when you do not live there? We've started the process, but are being told we need to either be a resident of the state or have an office there, which we aren't/dont. Any help would be appreciated.

I do not live in Indiana and set up an LLC there last year through the INBiz.IN.gov website. It's a fairly quick and easy process. I did need to hire a registered agent service that was local for $99/year.

@Matt Meyers I live here in indiana and I'm sure you can have an LLC here and live in a different state but for protection and tax half of it it sounds like what you need to know is how to operate it if you plan on holding realestate under it

Doug is right. There are a variety of online sites which will open an LLC cheaply and you get what you pay for. You will have to have a registered agent in that state and there are many options for that as well. They are simply a mail forwarder for due process docs but a necessary evil. I highly recommend corporatedirect (Garrett Suttons firm). They did everything and can provide multi-year registered agent (RA) at a good discount. One thing that is not talked about much is having a well structured and properly documented operating agreement, initial meeting minutes, articles, etc. If asset protection is your primary goal (w/tax savings a close 2nd) then the operating agreement and other supporting docs will be key in not piercing the corporate veil. I paid ~$1100 all-in, including 5yrs of RA. Garrett has a great book on the topic. I recommend doing it right on the first one with the real professionals, then copy those docs for all your others and go cheaper on future formations elsewhere. I'm am not affiliated in any way, just a happy customer.

@Matt Meyers

It is very standard practice for a state to require a mailing address/registered agent within the state you plan to open the LLC in.

You may be able to search online for a registered agent. Alternatively, if you have a business partner within the state, he/she can be the registered agent.

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