It is not particularly difficult to register a foreign LLC in Illinois. An Application for Admission to Transact Business in Illinois must first be submitted to the Secretary of State’s office. You must submit a copy of your LLC’s articles of incorporation together with the application and a certificate of good standing from your home state.
Following approval of your application, your LLC will be permitted to conduct business in Illinois. Remember that registering in Illinois as a foreign LLC does not grant you the right to conduct business elsewhere. You must register as a foreign LLC in each state where you intend to conduct business if you wish to conduct business in more than one state.
In Illinois, may a foreign LLC own real estate? A foreign LLC may own property in Illinois, yes. However, you must register as a foreign LLC in Illinois if you intend to use the property for commercial purposes.
What does the term foreign LLC mean? An LLC that is registered in one state but conducts business in another is simply referred to as a foreign LLC. The fact that the LLC is based in a different state than the one in which it conducts business is referred to as being “foreign” in this instance.
How can I submit an application for a foreign degree? You must submit an Application for Admission to Transact Business in Illinois to the Secretary of State’s office in order to apply for a foreign qualification. A copy of the articles of establishment for your LLC as well as a certificate of good standing from your home state must be included. Once your application is accepted, you’ll be permitted to operate as a foreign LLC in Illinois.
In conclusion, you must register as a foreign LLC if you run an LLC in another state and want to conduct business in Illinois. The procedure is reasonably easy, and it costs $150. Remember that registering as a foreign LLC in Illinois does not grant you the right to conduct business in other states, therefore you must do so if you intend to use real estate for commercial purposes.
Any corporation that was incorporated outside of Illinois but is operating within its borders is referred to as a foreign BCA (Business Corporation Act) in Illinois. This includes limited liability organizations (LLCs) with operations or transactions in Illinois but that were established in another nation or state. A foreign LLC may need to register with the Illinois Secretary of State in order to legally conduct business in the state if it meets certain requirements.