What is a foreign entity Colorado?
- A foreign entity is an entity formed outside of Colorado to transact business. A colorado can either be a home state or a foreign state, it depends on the situation.
- An out of state entity can obtain an authority to transact business in Colorado by filing a statement of Foreign Entity Authority with the Colorado Secretary of state.
Why do I have to file a statement of registration of true name for a Colorado Foreign Entity?
- The statement of registration of true name can be filed for the registration of a foreign entity Colorado to prevent other entities from registering with that name.
- All true names expire every year by December, 31st and is renewable for another year by filing a Statement of Renewal of True Name.
- Statement of registration of true name does not give the foreign entity an authority to transact business in Colorado unless it it registered with the secretary of state a foreign entity to conduct business, it is just a reservation of name to protect from other entities to use this name.
How would you register a foreign entity in Colorado, if the name is not available?
The alternative way to register a foreign entity, if foreign entity name is not available. You can choose an assumed name to transact business in the state of Colorado, if the entity's true name is not available or does not comply with the Colorado laws.
How to apply for a Colorado certificate of authority online?
- You can file foreign entity colorado at Colorado secretary of state website electronically.
- Colorado secretary of state generally approves it the same day if the name is available to incorporate the foreign entity in Colorado.
- Home state Employers Identification Number will be used for the out of state entity.
- Colorado business licenses will be applied to transact business, if applicable.
Yearly maintenance of Colorado foreign entity
- File Periodic Report to the Colorado Secretary of State when it is due otherwise secretary of state will revoke your certificate of authority to transact business in Colorado.
- All foreign entities are registered in the state of Colorado must maintain a registered agent, otherwise state of Colorado has a right to revoke your foreign entity in Colorado.
- All foreign entities must file state taxes on time in order to conduct business in Colorado.
How does a Colorado foreign entity relinquish or cancel its authority to conduct business in Colorado?
- If you are no longer doing business in Colorado, you must send a request to the secretary of state of terminating your foreign entity in Colorado. You need to file "Statement of Foreign Entity Withdrawal".
- If a foreign entity is in Delinquent or admin dissolution, the entity may file a Statement of Foreign Entity Withdrawal in lieu of filing a Statement Curing Delinquency.
