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Registering a company in Kentucky (USA) in 2020
Establishing a business in Kentucky can be a good solution for the following reasons:
- Availability of business incentives for foreign investors;
- Modern transport system;
- Favorable conditions for opening a company in medical industry, IT and mining sector;
- There are no requirements for an authorized capital;
- Corporate tax is 5%;
- 100% foreign ownership is allowed;
- Fast registration process.
Business registration – from €1,750
Company registration period – from 14 daysDetailed information
Priority areas, in which we recommend incorporating a Kentucky company:
- a medicine;
- cargo logistics;
- a sale of elite alcoholic beverages;
- a tourism;
- services sector;
- an extraction/processing of valuable minerals;
- a restaurant business.
Kentucky Union occupies the southeastern USA. In most cases, it is a record holder: the longest caves, the Mammoth Cave Park, water "roads" and streams are popular for their length, 2 huge artificial lakes- all these are situated in this jurisdiction. This region is famous for equestrian sports, bourbon/whiskey/tobacco factories. Kentucky boasts huge coal sources. The automotive industry is developing (manufactured by Ford and Toyota).
Kentucky does not have access to water latitudes. Civic Center Frankfort. Louisville is the most important transport "bridge" between the 3 states. Within this, city is located the 8th largest port. Kentucky values medical professionals, it’s an honor to open Kentucky medical companies. Louisville is central to advances in a heart and hand surgery, a cancer treatment.
In Louisville, Cincinnati, Bluegrass are international airports. Kentucky Fort Knox holds US gold reserves.
This state has a widespread tax system for classified property. Our experts recommended to get Kentucky tax advice from IQ Decision. Activities of any type are taxed, but the rates are completely different. 3 types of regional fees are subject to rates established by the General Assembly, 1 more is determined by the Supreme Court, rest - by local laws, which imply a tax rate + all mandatory fees in this region. Real estate taxes must be paid by Dec 31 of each calendar year.
Low, compared with other states, a corporate tax on companies is 5%.
6% are income taxes for physical persons.
A relatively low sales tax of 6%.
- the name should not be repeated in the public register of companies. At the end, you need to indicate the legal form, in which you plan to register a firm in Kentucky: LLС, a Free Zone LLС, LLP (a limited partnership), HLC (an open limited company), SP (a private entrepreneur), a representative office of a foreign company;
- at least 1 director and shareholder without residency requirements for SM LLC or S-Corp, or their unlimited number (MM LLС or С-Corp) can register a company in the Kentucky Commonwealth;
- it is necessary to submit information about the company in an open registry;
- annual tax report submission;
- Federal Home Loan Bank of Cincinnati;
- First commonwealth bank;
- Old national bank;
- Fifth Third Bank & ATM;
- U.S. Bank;
- Associated bank;
- Green bank;
- Napoleon State Bank;
- United bank;
- River city bank;
- Republic bank;
- Bank of the bluegrass
If you want to set up a commercial firm in the USA, contact us at the indicated numbers in the “Contacts” section, and we will provide full support for this procedure.
The information outlined in the article is actual at the time of its publication. Please refer to our specialists for checking possible solutions for your business.