Does a Foreign Business Entity have to have a Certificate of Authority to do Business in South Carolina?
Yes, a foreign business entity type as previously defined, may not transact business in South Carolina until it obtains a Certificate of Authority from the Secretary of State. Guidelines for who needs to register: SECTION 33-15-101 — Authority to transact business required. 1) If the business entity has a physical location in South Carolina or has inventory in South Carolina, in other words, if the business has a presence in South Carolina, then the business is transacting business in South Carolina. A business merely owning property in South Carolina does not constitute doing business in South Carolina. 2) The following activities, among others, do not constitute transacting business within the meaning of above: a. maintaining, defending, or settling a proceeding; b. holding meetings of the board of directors or shareholders or carrying on other activities concerning internal corporate affairs; c. maintaining bank accounts; d. maintaining offices or agencies for the transfer, exchang
Related Questions
- If a domestic entity is terminated, cancelled, or dissolved or a foreign entity’s certificate of authority or registration is revoked, is there a deadline for reinstatement?
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