Name Reservation Virginia

How Do I Reserve an Entity Name in Virginia? Name Reservation in Virginia Online

Reserving a name for your business is not a legal requirement in Virginia. Nevertheless, it’s an important step if you are too busy setting up your company and don’t want other businesses to steal your name.

Coming up with a unique name is a creative endeavor, which is why you should get it reserved as soon as possible.

If you already have a name in mind for your business, you can reserve it by visiting the State Corporation Commission or SCC’s official site. Complete the process of name reservation in Virginia online through the SCC’s Clerk’s Information System (CIS).

Your name will be reserved for a period of 120 days and you’ll be asked to pay a one-time fee of $10 to the name reservation Virginia SCC site. The process is the same for both Virginia-based and out-of-state businesses. You can renew your reservation for 120 days, but it must be done 45 days before the expiration of the original reservation date.

If you are running a foreign corporation, you can reserve its name after paying a one-time fee of $20 for a period of one year. This must be done before you have received a certificate of authority to operate in Virginia. This means you can claim a name before you have even established your presence in the state.

You first have to sign up on the CIS platform. You do not need to be running a business to create your account. You’ll be asked for some personal information about yourself, such as your name, address, ZIP code, and city.

Once you have created your account, you will be taken to the dashboard, where you can fill out the form. Note that you don’t have to include your business’s entity type when reserving a name.

Name Reservation Virginia Form

If you don’t want to fill out the form online, you can print it out and mail it to the SCC. However, the name reservation Virginia SCC site itself recommends that you file it online as it’s quicker and prevents processing errors.

First, you have to choose if you’re reserving a name or renewing it. Tick the appropriate box on the form and then you can fill out the rest.

Here are the things you need to provide when filling out the form:

• The business entity name being reserved or renewed
• The name of the applicant
• The mailing address of the applicant
• Signature of the applicant
• Phone number of the applicant

The form can be signed by an agent authorized by the applicant, but their name and title have to be written in a separate section beneath the signature.

You can also transfer a reserved business name if you feel like you no longer need it. This can only be done online and you need to sign up on the CIS platform for it. It requires a one-time payment of $10.

Some Rules You Need to Remember

Before you go ahead and reserve your name, there are some rules you have to keep in mind.

The name must be in English letters or Arabic or Roman numerals. It can contain the following characters: periods, commas, colons, semi-colons, apostrophes, round parentheses, dashes, or minus signs. You can also include the following symbols: +, =, ?, !, @, #, $, %, &, and *.

The CIS platform will not accept any other letters, numbers, or characters. You can’t add any abbreviation in your company’s name that suggests it is a different business entity type. For example, if your company is an LLC, you can’t use the word “corporation” or the terms “Corp.” and “Inc.” in the name.

You also can’t use the words “bank” or “trust” in your company’s name unless you plan to be operating in the banking or trust business, or the full name clearly indicates that you won’t be involved in these activities.

The words “engineer,” “architecture,” “land surveying,” or any variations of these words can’t be included in your business’s name unless these are the services your company is providing.

If you’re in the banking, loan, building and loan, brokerage, factorage, insurance, indemnity, savings, or trust business, then you can’t use the following words in your company’s name: “United States,” “national,” “Federal,” and “reserve.”

Do You Have to Put LLC in Your Business Name in Virginia?

Yes, if your business is a limited liability company (LLC), then you must include the words “limited company,” or “limited liability company.” Alternatively, include the abbreviations “LC,” “L.C.,” “LLC,” or “L.L.C.,” in the name of your business. For more on Virginia LLC name search, see below.

If you’re running a different business entity type, then you’ll be required to put a different word or abbreviation in your company’s name.

For example, if your company is a stock corporation, then you need to put the words “company,” “corporation,” “incorporated,” or “limited” in your name. You can also use the abbreviations “Co.,” “Corp.,” “Inc.,” or “Ltd.,” in the name.

If your company is a limited partnership, then the name must have the words “limited partnership” or the abbreviations “LP” or “L.P.”

How Do I Check if a Business Name Is Taken in Virginia?

If your name isn’t unique and lacks distinct features, then it’s a good idea to check if it’s not already taken by another company in Virginia first.

The CIS platform has a free “Business Entity Search” tool that anyone can use without having to sign up. Just type the name whose availability you want to check in the “Entity Name” bar and press the “Search” button. If it’s already taken, it’ll appear in the search results.

It’ll also tell you the status of the business (whether it’s still active or not), and the entity type (stock corporation, LLC, partnership, etc). You can also find the name type (whether it’s a “fictitious name” or a “legal name”), the entity ID, whether or not it’s a series LLC, its principal address, and its registered agent’s name.

This tool is perfect for Virginia LLC name search as it displays an entity designator as well as the names. Whatever name you look for, the platform will tell you what type of entity it is.

How Much Does an LLC Cost in Virginia?

Once you have reserved a name for your company, it’s time to start setting up your company. The first step is to file the Virginia Articles of Organization, which costs $100. This process can be done either by mail or online through the CIS platform.

Here are some of the things you have to fill out in the Articles of Organization of an LLC in Virginia:

• The name of the LLC.
• Contact number and email of the LLC (these are optional).
• The principal office address of the LLC (including the city and state where it’s based and the ZIP code).
• The name of the registered agent and their email (optional).
• Qualification for the registered agent.
• The registered office address.
• Signature of the applicant and date.

At the end of the form, there is a checklist so you don’t make any errors while filling it out. The checklist includes the following things:

• Check if the name of the LLC is unique.
• Make sure the name includes LLC or limited liability company.
• Make sure you have included at least one signature of an organizer.
• Pay the $100 fee to the SCC.
• Do not include any other documents with the form.

After you have filed the Articles of Organization, your LLC is officially recognized as an entity and the business name registration process in Virginia is complete. If you want to create more LLCs that will be related to the original (referred to as the “parent LLC”), then you’ll have to pay an additional fee of $100 per LLC.

Note that before filing the Articles of Organization, you are required to renew your name’s reservation every 120 days (or every year if it’s a foreign corporation).

You’ll also be required to pay an annual fee of $50 to the SCC in Virginia. It is generally due on or before the anniversary of your LLC’s formation. This can also be done online through the SCC.

The next step is to find a registered agent in Virginia who has a local street address so they can serve as the official point of contact for your LLC. They will receive all the important legal documents that will be sent to your LLC, including tax notices, annual reports, and lawsuits.

It’s possible to appoint yourself as an agent for your LLC, but you have to be present at your business location every day of the week. If you want to form an anonymous LLC in Virginia, you must appoint someone else as a registered agent.

You also need to get an Employer Identification Number (EIN) from the IRS (doesn’t cost anything).

In the last step of the process, you have to get licenses and permits for your business. File a Fictitious Business Name (FBN) or a Doing Business As (DBA) if your legal name isn’t included in the name of your business.

While the exact type of licenses and permits you need will depend on the industry your business is operating in, every company needs a seller’s permit, which is free. To look up a business license in Virginia, we recommend using a site called Virginia Business One Stop.

Why Should I Reserve a Business Name in Virginia?

You are not legally obligated to reserve your company’s name in Virginia. If you want, you can skip the entire process, just register your business, and save the $10 reservation fee.

There are certain situations where reserving your name would be highly beneficial, though. Here are some of its benefits:

• No One Else Can Use the Name: By reserving your company’s name, you prevent other businesses from using the same name during the reservation period. You have exclusive ownership of it, at least until you formally register your business.
• Gives You Time to Build Your Brand: Since no one else can use the name you have reserved, you have the option to build your brand identity without worrying about anyone using the same name. You can also start the registration process of your business entity.
• Establish a Market Presence: You can start marketing your brand even before you have registered your business. This wouldn’t always be possible if you haven’t reserved the name of your company.
• Makes You Look Professional: If you are planning to seek funding from investors for your business, then you have to do everything you can to look professional. Reserving your company’s name is an important step in showing investors that you are committed to your business.
• Helps Protect Names That Aren’t Unique: As mentioned above, a business name that doesn’t have any unusual characters or words in it has a higher chance of getting claimed by someone else than one that’s unique. If your name isn’t included in it or you haven’t used any distinctive character or word, then you should reserve it.

Reserve a Name for Your Business in Virginia Today

As you can tell by now, the name reservation process in Virginia isn’t very complex. All you have to do is sign up on the CIS platform and fill out the name reservation form. You’ll have to provide the name you want to reserve, the name of the applicant (which, in most cases, will be you), their mailing address, and their contact number.

Once you have filled out the form, you have to pay a one-time fee of $10 and your name will be reserved for 120 days. If you are a foreign corporation, it will be reserved for a whole year. You have to renew at least 45 days before the expiration date, otherwise you’ll lose your exclusive access to it.

After reserving the name, you are ready to register your business in Virginia and start pursuing your dreams!