In this video, I showed how to set up an Umbrella LLC or Holding LLC Company in 2024 (Step by Step).
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Starting an umbrella company may be useful if you desire to own and control multiple businesses at once, for that is the purpose of an umbrella company.
An umbrella company is so named because it acts as an over-arching structure to hold multiple lesser businesses beneath it, which are known as subsidiaries. Subsidiaries are companies that are at least majority-owned by another company, which may often be an umbrella company.
How to Create an Umbrella Company?
1. Forming an umbrella company is a three-step process, the steps of which are as follows: Form a company that will function as the umbrella company by completing Articles of Incorporation and submitting them to your secretary of state or other state business registrar in the standard way.
2. Select managers or a board of directors to run the company and create bylaws for the company’s operation. Then pass a resolution establishing the company as a holding company authorized to form subsidiary companies.
3. Form a separate company in the standard way, except when creating the Articles of Incorporation, place a provision therein barring any changes to the management of the company without the umbrella company’s approval. Then select managers and create bylaws, also placing in these a provision barring changes to management. Last of all, place umbrella company assets into the subsidiary in exchange for all of the subsidiary’s stock.
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