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Using LLC's as Asset Protection Devices | Business License Required for LLC


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phillyg
Real Estate Invester

 

Business License Required for LLC

Saturday, January 14 2012 09:00 AM

 

My bank tells me I need to present a copy of a business license along with the other documents to open a checking account in my LLC's name.  I was not aware I needed a business license in Virginia for an LLC, and it's Sat so I can't call to confirm.  Anyone out there know if I need a business license in VA?

Thanks

P. J. Grudzinski

REPLY

Randy Hughes
Land Trust Expert-40+ years of experience

 

Re:Business License Required for LLC

Saturday, January 14 2012 10:15 AM

 

P.J.

I have never heard of this requirement, but that does not mean the bank cannot require this of you. Consider going to another bank. I would not get a "license" for an LLC as this will lead to other governmental agencies pursuing you for a multitude of reasons/taxes/etc.

Randy Hughes
866-696-7347

REPLY

GR
Business Professional

 

Re:Re:Business License Required for LLC

Wednesday, April 04 2012 01:07 PM

 

I used our Credit Union and had no issues setting up an account for our LLC. No Business License, etc... just standard account registration forms.

I have not used a traditional banking institution for 20 years.  I like Credit Unions; participants helping participants....

Best of luck!

GR

REPLY

 

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