Delaware compliance for foreign entrepreneurs

For foreign entrepreneurs establishing a presence in Delaware, navigating compliance is key. Here are the top 5 essential steps to ensure your business remains in good standing:1. Designate a Delaware Registered Agent: Delaware law mandates that every business entity maintain a Registered Agent with a physical street address in the state to receive official mail and service of process.2. File Formation Documents: Officially establish your entity by filing the Certificate of Formation (for LLCs) or Certificate of Incorporation (for corporations) with the Delaware Division of Corporations.3. Obtain a Federal Employer Identification Number (EIN): An EIN is crucial for most business activities, including banking and tax filings. Foreign owners must obtain one, often indicating 'Foreign-owned U.S. disregarded entity — Form 5472' on Form SS-4 if applicable.4. Comply with Delaware State Taxes: Corporations must file an Annual Report and pay franchise tax by March 1st annually (minimum $175). LLCs, LPs, and General Partnerships pay an annual tax of $300 by June 1st.5. Understand Beneficial Ownership Information (BOI) Reporting: While U.S.-formed entities are now exempt, foreign entities registered to do business in the U.S. may still need to file BOI reports with FinCEN. Check FinCEN guidance for specific deadlines, which vary based on registration date (e.g., April 25, 2025, for those registered before March 26, 2025).