Published
4 вер. 2023 р.
Updates:
3 груд. 2024 р.
Guam
Price:
Delivery:
Legal forms:
Payment methods:
3 months
LLC, LLP, PLLC
Document checklist:
1.Passport
2.Proof of Residence
Requirements:
Local legal address (Handled by B2B Hub)
Guam
$
1500
.png)
Registrar
Abbreviation
Phone
Guam Department of Revenue and Taxation
N/A
+1 671 635 1779
Location
Capital
Official languages
Population
Currency
ISO 4217
Hagåtña
Guam
English, Chamorro
172,952
USD
United States Dollar
Delivery
-
Certificate of incorporation
-
Articles of association
-
Meeting minutes
-
Company stamp
Certificate of incorporation
Company stamp (By stempil.com)
Registration documents and guidance
FAQ for company formation in Guam
Q: What is the process for forming a company in Guam?
A: The process for forming a company in Guam involves registering the company with the Department of Revenue and Taxation, obtaining a business license, and registering for applicable licenses and permits.
Q: What are the different types of companies I can form in Guam?
A: The most common types of companies in Guam are the limited liability company (LLC) and the corporation.
Q: What is a limited liability company (LLC)?
A: An LLC is a type of company where the liability of the members is limited to their investment in the company.
Q: What is a corporation?
A: A corporation is a type of company that is a separate legal entity from its owners and shareholders, providing limited liability protection.
Q: What are the minimum requirements for company formation in Guam?
A: The minimum requirements for company formation in Guam include having at least one member/shareholder, a registered office address, and a business license.
Q: How long does it take to form a company in Guam?
A: The time it takes to form a company in Guam can vary, but typically takes around 2-3 weeks.
Q: What are the tax implications of forming a company in Guam?
A: Companies in Guam are subject to a corporate tax rate of 5% on their taxable income. There is also a gross receipts tax ranging from 0.5% to 5% depending on the type of business.
Q: What are the ongoing compliance requirements for companies in Guam?
A: Companies in Guam are subject to ongoing compliance requirements, including filing annual reports, paying taxes, and maintaining proper accounting records. It is important to work with a qualified professional to ensure that you remain compliant with all applicable laws and regulations.
"Guam is an unincorporated territory of the United States located in the western Pacific Ocean. It is a popular tourist destination and has a thriving economy. According to the Bureau of Economic Analysis, Guam’s Gross Domestic Product (GDP) was estimated to be $5.3 billion in 2019. This was a 3.2% increase from 2018. The main contributors to the GDP were the services sector (which accounted for 68.2%), followed by the government sector (17.2%) and the goods-producing sector (14.6%).
The unemployment rate in Guam was estimated to be 6.2% in 2019, which was a decrease from the previous year. The labor force participation rate was estimated to be 56.2%, which was a slight increase from 2018.
The median household income in Guam was estimated to be $50,845 in 2019, which was a 3.2% increase from 2018. The poverty rate in Guam was estimated to be 11.2%, which was a decrease from the previous year.
Overall, Guam has a strong and growing economy. The GDP has been steadily increasing over the past few years, and the unemployment rate has been decreasing. The median household income has also been increasing, and the poverty rate has been decreasing."
In Guam, both corporate and personal taxation is levied by the government.
Corporate taxation:
- The corporate tax rate in Guam is 5% for businesses with annual gross income of $50,000 or less, and 35% for businesses with annual gross income over $50,000.
- Corporations are required to file their tax returns within three months after the end of their fiscal year.
- Quarterly installments of corporate taxes are also required to be paid.
Personal taxation:
- Personal income tax rates in Guam are progressive, with rates ranging from 4% to 8.3%.
- Individuals are required to file their tax returns by April 15th of the following year.
- Like corporations, individuals are also required to make quarterly tax payments.
The tax payment process in Guam involves several steps:
1. Register with the Department of Revenue and Taxation (DRT).
2. Obtain a tax identification number (TIN) from the DRT.
3. Keep accurate records of all income earned and expenses incurred.
4. Calculate the amount of tax owed based on the relevant tax rates and deductions.
5. Make quarterly tax payments by the due dates, either online or in person at the DRT office.
6. File annual tax returns by the due date, either online or in person at the DRT office.
The tax calendar for payments in Guam is as follows:
- Quarterly payments: April 30th, July 31st, October 31st, and January 31st.
- Annual tax returns: April 15th of the following year.
It's important to note that failure to pay taxes on time can result in penalties and interest charges. Therefore, it is important to keep track of all tax obligations and to make timely payments.
Application without registration
The first director
The second director
The third director
The first shareholder
The second shareholder
The third shareholder
Articles
<txtStatus>
<txtSaving>
Please complete the form with attention to detail. Once submitted, our team will review the information. Following this, you will receive a confirmation and an invoice via email.