Are you looking to expand your business operations or secure financing for your company in South Carolina? One essential document you’ll need in such situations is the Certificate of Existence. This certificate is an official document issued by the state authorities to confirm that your business is compliant with state regulations and requirements. The Certificate of Existence is one of the most important documents your business needs. Whether it is the South Carolina LLC filing or a corporation or any other form of business, the Certificate of Existence must be obtained.
We will share the in and out of South Carolina Certificate of Existence in this article. We’ll also discuss the various scenarios when you might need this certificate and provide helpful tips to ensure your business remains in good standing with the South Carolina authorities. We recommend you read the article on how to get South Carolina Certificate of Existence till the end. Let’s dive in and get your business one step closer to achieving its goals!
On this page, you’ll learn about the following:
What is Certificate of Existence in South Carolina
The Certificate of Existence is a document that every business in South Carolina requires to obtain. This document states that the company (LLC, Corporation, Partnership, etc.) complies with the State government. In other words, the business has fulfilled all the legal requirements in South Carolina. Whether you form an LLC or any other form of business, you must get this document.
If you take your business to a different state, your Certificate of Existence will be a necessary document to be produced. It shows that your business does not have any illegitimate or outlawed activities.
What Information You Have in South Carolina Certificate of Existence
The Certificate of Existence consists of very pivotal information related to your business. Following is the information your Certificate of Existence will have-
- The entity type (LLC, Corporation, LLP, LP, or any other registered entity type) when it was formed
- The date of filing the business entity (filing the formation document).
- The current name and address of the business entity
- Whether the business entity exists today
- Name and address of the Resident Agent
- The State where the document is issued
- A declaration that the business entity has paid all the required taxes and complies with all applicable legal requirements.
- A declaration that the business entity met all the requirements to get the document.
Who Should Obtain the Certificate of Existence
Any business entity, a Limited Liability Company (LLC), a Corporation, a Limited Liability Partnership (LLP), a Limited Partnership (LP), or any other registered business structure in South Carolina is eligible to obtain the Certificate of Existence. Anyone with a sole proprietorship does not need to obtain the Certificate of Existence because sole proprietorship companies do not have to register their business.
How to Obtain South Carolina Certificate of Existence
The Secretary of State issues this document. To obtain the Certificate of Existence, you must fill out the form and send it to the South Carolina SOS along with the required filing fees. There is some information you will need to enter while submitting the form. Here are the points to add-
Step 1: Get the Form
The first thing you need to do is get the form. The form is available on the state SOS website. You can download the form and mail it or submit it online. The following points are required to mention in the form-
Details of The Requester: The first information you need to provide is the detail of the requester. Provide your full name, address (which can be your business address), and phone number.
Name of Your Business: Provide the exact name of your business. Make sure no spelling mistakes are made. The spelling must be the same as mentioned in the Certificate of Formation. Besides the name, provide the company registration number or file number. The SOS issues this number after you file the Certificate of Formation. This is not mandatory, but it is recommended to share the file number to get the process done quickly.
Details of Return Method: The certificate can be collected in person or by mail from South Carolina SOS. If you request the document in person, you can take the return in person or by mail. Choose which way you want it.
Copies of the Certificate: You can request the number of copies of the certificate from SOS. There is a box in the form you need to check for multiple copies of this document. You can obtain more than one copy of the Certificate of Compliance for various purposes. It is recommended to get more copies of the certificate for future use.
Fax Copy of the Certificate: You might get a Fax copy before receiving the certificate’s hard copy. This is one of the options available in some of the states. If you want to receive the fax copy of the certificate, you must provide the fax number while filing the form.
Copies of Other Documents: If you want, you can request copies of other documents filed with the SOS. Other documents include the South Carolina Articles of Organization for LLCs, Articles of Incorporation, amendments, and other registered documents with the SOS. This is optional and you can avoid this. With every copy you request, you must pay a stipulated fee.
Step 2: Submit the Form
You can submit the form online, by mail, or in person, whichever is available and more convenient. Send the form to the South Carolina Secretary of State’s Office, Attn: Corporate Fillings, 1205 Pendleton Street, Suite 525, Columbia, SC 29201 for offline filing. You can also submit the form online. For that, you must go to the South Carolina SOS official website and search for the appropriate form.
Step 3: Filing Fee and Processing Time
A filing fee must be paid to the SOS to obtain the Certificate of Existence. The amount depends on the number of copies you request. If you request other document copies, you might pay an additional fee for that.
Processing Time: The Certificate of Existence’s processing time varies from state to state. Also, it depends on the expedited filing as well. It can take a few days to a few months to obtain the Certificate of Existence in South Carolina.
Step 4: Receive the Certificate of Existence
Once you submit the form and the necessary filing fee, your forms start processing. The process might take a lot of time. If you do not want to wait, you can check with the South Carolina SOS if they have expedited filing or not. In South Carolina, it can take up to a few months to receive the Certificate of Existence.
Why Do You Need a Certificate of Existence
The Certificate of Existence in South Carolina is a character certificate of any business. Obtaining this document makes your business legitimate officially. You need this document every now and then while making business decisions. You must obtain the document for the following reasons,
- To get business loans and advances or investors
- To get business bank accounts
- To purchase insurance for business coverage
- To renew licenses & permits
- To set up your business in other states, for example, a Foreign LLC.
- To sell or transfer your business completely or partially to another.
- To get into a legal business contract with other businesses or clients.
The document is required as much as the formation document. Hence, obtaining the South Carolina Certificate of Existence is needed.
FAQs
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Why South Carolina Certificate of Existence is So Important
The South Carolina Certificate of Existence, also known as a Certificate of Good Standing, is an official document issued by the Secretary of State’s office. This certificate serves as proof that a business is registered with the state and is in compliance with all its requirements. Essentially, it confirms that the business exists and is legally authorized to operate within South Carolina.
So why is this certificate so important? First and foremost, having a valid Certificate of Existence is often a requirement for conducting certain business activities. Many banks and lenders, for example, will require a business to provide this certificate when applying for loans or lines of credit. Without it, a business may be unable to access the financing it needs to grow and thrive.
In addition, having a South Carolina Certificate of Existence can also be crucial for entering into contracts with other businesses. Potential clients or partners may request to see this document as a way to verify that a business is legitimate and in good standing. Without it, a business may lose out on valuable opportunities to collaborate and expand its network.
Furthermore, a Certificate of Existence can also be important for tax purposes. In some cases, the state or federal government may require a business to provide this document when filing taxes or applying for certain tax credits. Failure to maintain this certificate could result in penalties or even legal repercussions, adding unnecessary stress and expenses to a business owner.
Beyond these practical considerations, a South Carolina Certificate of Existence also serves as a symbol of credibility and professionalism. By proudly displaying this document, a business can demonstrate to its clients, partners, and employees that it is trustworthy and in good standing. This can help build confidence in the business and attract new opportunities for growth and success.
In conclusion, the South Carolina Certificate of Existence may seem like a small piece of paper, but its significance cannot be overstated. From securing financing to building credibility and maintaining legal compliance, this document plays a crucial role in the operation of a business in the state. Therefore, businesses must prioritize obtaining and maintaining their Certificate of Existence to ensure their success and longevity in the dynamic marketplace of South Carolina.
Conclusion
The Certificate of Existence is a vital document for any business entity in South Carolina, as it enables you to expand your operations throughout the United States. It’s essential to provide accurate and truthful information in this document. If you plan to establish the same business in another state, obtaining a Certificate of Existence is necessary.