Certificate of Fact of Existence for VA and Foreign LLCs: Everything You Need to Know

Running a limited liability corporation (LLC) may have exposed you to the terms “certificate of fact of existence” or “certificate of good standing.” Banks, lenders, and other organizations frequently want these credentials before doing business with your LLC. This article will explain what a certificate of fact of existence is and why you might require one in more detail. A Certificate of Fact of Existence is what?

A certificate of fact of existence is a record that attests to your LLC’s legitimacy in the state in which it was created. An alternative name for it is a certificate of good standing. This record demonstrates that your LLC has submitted the required paperwork on time and in full. It also verifies that your LLC has the necessary permits to operate legally in the state. How Do I Obtain an Existence Certificate in Virginia?

You must ask the Virginia State Corporation Commission (SCC) for a certificate of existence if you want one for your Virginia LLC. Through the SCC website, you can do this task online. The cost of an existence certificate is $5. A digital certificate from the SCC will be made available for you to print and use as necessary. Do I Need a Virginia Certificate of Good Standing?

A certificate of existence is not strictly necessary, although having one can be useful. A lot of banks, lenders, and other organizations want one before doing business with your LLC. A certificate of good standing from your home state will probably also be required if you want to expand your LLC into other states. How Do You Interpret a Certificate of Existence?

A certificate of existence attests to your LLC’s legal registration and business license for the state. It shows that your LLC has complied with all requirements for maintaining its legal status and is in good standing with the state. This certificate may come in handy when applying for loans or opening bank accounts, among other things. Is a Texas Certificate of Fact Required?

You may require a certificate of fact if you operate an LLC in Texas. A certificate of fact, which is comparable to a certificate of existence, attests to your LLC’s legitimate existence in Texas. A certificate of fact could be required when you apply for business licenses, permits, or contracts. The Texas Secretary of State will charge you $15 for a certificate of fact.

In conclusion, it’s critical to comprehend what a certificate of fact of existence is and when you would require one if you’re managing an LLC. Although the law doesn’t necessarily demand it, it can be useful in a variety of circumstances. If your Virginia or Texas LLC requires a certificate of existence, you can get one from the corresponding state organizations.