Chapter 80 - Foreign Corporations of Nevada under NRS 80.015 clearly states the Activities not constituting doing business in Nevada as:
(g). Creating or acquiring indebtedness, deeds of trust, and security interests in real or personal property;
(h). Securing or collecting debts or enforcing deeds of trust and security interests in property securing the debts;
(i). Owning, without more, real or personal property;
I own a few condo’s there under a Delaware registered foreign S-Corporation. These are managed by a Property Management firm who collects the rent and maintains the properties. The question I have is that do I need to register with the Nevada Secretary of State and file Annual List and get business license ? This is about $600 a year. The fees used to be just $350 till last year and I was paying it but I just read this and thought may be I am overpaying and need to rather file a $100 withdrawal.
Since your needing a definitive answer I would either talk directly with the secretary of states office or an attorney.
If your not operating a business managing, maintaining, marketing or a signatory to a contractual agreement directly leasing or renting real property you should not be subject to Nevada registration as a foreign corporation. Since Nevada has no state taxes your not subject to needing an entity to pay state taxes through.
In fact it’s possible an accountant or accounting firm may know your answer, but you will need to ask someone of authority?
Thanks. Well we have many Nevada investors on this forum along with several legal experts. I am hoping someone will have a clear answer. I did call Nevada Sec of State and they say call your CPA, they don’t give advise.
I’m in similar situation. I just don’t know if I should register in Netherlands or U.S., because it seems I read somewhere that even though I’m over here I have to pay taxes to U.S. because I’m a citizen. I’m a bit confused if I have to pay taxes in both countries, or just one.
Your right Eric in normal circumstances a corporation should be domiciled in the state your operating in (Own Property). You would be required to be a state corporation to manage your own property, however in Nevada when the property is managed by a licensed property management company and the only thing an owner receives is a profit check monthly, quarterly, biyearly or annually because Nevada does not have an earned income or corporate tax a property can be owned by any entity in any state.
Now if Nevada had a state tax and you were required to file a state tax return you would have to be domiciled in Nevada!