Michigan Certificate of Good Standing: What It Is and Why You Need It

A Michigan Certificate of Good Standing is a legally binding document that attests to the fact that your company is permitted to conduct business in the state. It is also known as a Certificate of Authorization or a Certificate of Existence. The Michigan Department of Licensing and Regulatory Affairs (LARA), which issues this certificate, attests that your company has submitted all required documentation, paid all fees, and complies with all state regulations.

The Certificate of Good Standing is issued by the Michigan Department of Licensing and Regulatory Affairs (LARA), as was already noted. Several industries, including corporations, limited liability businesses (LLCs), partnerships, and sole proprietorships, are regulated by this department.

Yes, a Michigan Certificate of Good Standing is required if you want to conduct business there or if you want to grow your company to include additional states. A Certificate of Good Standing is frequently required before banks, investors, and vendors would work with your firm. Additionally, you might be asked to submit a Certificate of Good Standing as part of the application process if you want to apply for specific licenses or permits.

Normally, a Michigan Certificate of Good Standing is good for 90 days after it is issued. However, it is always a good idea to verify with the requesting party to determine their exact requirements as certain organizations could want a more recent certificate.

In summary, a Michigan Certificate of Good Standing is a requirement for any company doing business in the state. It demonstrates that your company is legitimate and in conformity with all state regulations. Consult a company lawyer or the Michigan Department of Licensing and Regulatory Affairs (LARA) for advice if you’re not sure whether you require a Certificate of Good Standing or how to get one.