Starting a registered agent business is possible once you have the resources and can meet the requirements in your chosen state.
New businesses get registered regularly, so there will be a high demand for registered agents, making it an excellent opportunity for your business.
To help you, we have worked with our legal team, which has over ten years of experience helping people start their registered agent businesses, and we will share our findings below.
- To start a registered agent business, you must meet the state’s requirements where you plan to operate.
- A registered agent business is an entity set up to provide registered agent services to organizations that require them.
- Registered agent businesses will mainly thrive in states where it is a legal requirement for companies to have a registered agent.
What Is A Registered Agent Business?
A registered agent business is an organization or entity where registered agent services are offered to companies and corporations that need them as part of the requirements to get registered in a state.
It typically costs around $300 to register a registered agent business in most states, although the figure could be higher when other costs are brought into the picture .
How To Start A Registered Agent Business
These are the steps you will need to take to start your registered agent business:
1. Make Sure Your Business Satisfies Legal Requirements
Your registered agent business should satisfy legal requirements in the state where you wish to operate.
For example, a state may require that you have a physical residence before you can operate a registered agent business .
You can always communicate with the Secretary of State in your state of operation to learn about the legal requirements and how to meet them.
2. Find Reliable Agents
Running a registered agent service is no simple task, considering that you will be dealing with a company’s legal matters, which requires them to put great trust in you.
This is why you must be reliable and trustworthy and only present registered agents with these qualities.
Ensuring that your agents are excellent in terms of the services they render to companies will, for sure, get your business to this level.
3. Become Familiar With Legal Terms And Jargon
If you are starting a registered agent business, you have to be familiar with legal terms and jargon to offer great services.
Also, you would often accept service of process and other legal notices, which would most likely contain these terms.
Hence, you should understand what you are reading and be able to deduce relevant information.
Being unable to do so could lead to devastating consequences for your business.
4. Offer Useful Services
Companies are usually picky when choosing a registered agent service company to work with, so you must offer excellent services if you want to be selected.
You also want your business to be flexible by ensuring it utilizes the digital platforms used by potential clients so it is easier for them to find you and contact you.
What You Need to Know About Registered Agents
There are two types of registered agents, and they include commercial and noncommercial registered agents.
The commercial registered agent is an individual or entity that has filed a specialized listing statement with a state’s Secretary of State.
This statement aims to provide effective communication between the Secretary of State and the commercial registered agent.
Usually, a commercial registered agent is legally authorized to operate in multiple states and work with various business entities.
On the other hand, a noncommercial registered agent is an individual or entity that has not filed a specialized listing statement with a state's Secretary of State and typically represents only a few companies, limited to one or a few states.
State Requirements For Becoming A Registered Agent
Registered agent requirements may vary by state, but there are some general requirements for registered agents in every state.
- The registered agent must reside in the state where your company is registered.
- The registered agent must have a physical address where government officials can deliver legal documents during regular business hours.
- The statutory agent must be at least 18 years old.
- The registered agent must abide by all state-specific laws and guidelines to be classified as one.
- The registered agent must be available to receive mail and sign official documents during normal business hours, Monday to Friday, 9 a.m. to 5 p.m.
You can always check the Secretary of State website for your state or visit the office to find out if there are other special resident agent requirements.
How Much Does It Cost to Register A Registered Agent Business?
It costs around $300 to register a registered agent business, although this fee will depend on the type of state you are registering in and your business structure.
Do I Need To Employ Registered Agents For My Registered Agent Business?
Yes, you need to employ registered agents for your registered agent business, especially if you want to offer your services to multiple business entities.
Is a Registered Agent Business a Profitable Venture?
Yes, a registered agent business is a profitable venture because a business entities need a registered agent for their services and because they are required by the state law to have one.
Start Your Registered Agent Business Today
Starting a registered agent business is an excellent opportunity considering that many organizations that need registered agents are created daily.
To give you a clue of what a registered agent business should look like, our team of experts has compiled a list of the best registered agent businesses.
These professional registered agent services have top features and qualities you can incorporate into your registered agent business.