Guam LLC Cost
The main cost of starting a Guam LLC is the $250 fee to register with the Department of Revenue and Taxation. You'll also have a yearly fee of $100 to file your Guam Sworn Annual Report, which keeps your business up-to-date and legally authorized to do business in Guam. On top of these expenses, you'll need to pay for business licensing. You may also have additional costs, like business insurance, registered agent service, and DBA registration. We'll break down the most common costs associated with establishing an LLC in Guam.
What You'll Find In This Articles
Guam LLC Formation Filing Fee: $250
Guam Sworn Annual Report Fee: $100
Every year after filing your formation paperwork, you’ll need to submit a Sworn Annual Report along with a $100 fee to the Director of Revenue and Taxation. Your first annual report is due between July 1st and September 1st during the year following the calendar year in which your LLC was formed. Subsequent reports are due between July 1st and September 1st annually. You can file your annual report by mail or in person.
Find out how to file your Guam Sworn Annual Report.
Guam Registered Agent Fee
On your Articles of Organization, you’ll need to list a Guam registered agent who is responsible for accepting service of process on behalf of your LLC. According to Title 18 of the Guam Code Annotated, Chapter 15 §15111, your registered agent have a registered office located in Guam where they are available to receive legal documents during regular business hours.
Serving as your own registered agent (or having another LLC member do so) is free. However, many LLC owners choose to hire a registered agent service. With a registered agent service, you don’t have to worry about being in your registered office every weekday during regular business hours. The price of hiring a registered agent depends on the company providing the service. For example, Northwest offers registered agent service for a fixed $125 per year.
Guam State Business License Fee
To do business in Guam, you’ll need a business license from the Department of Revenue and Taxation. The price of your license will depend on the type of business you do. Along with a Form BL-01 New Business License Application, you’ll need to submit a Good Moral Character Questionnaire to show that there aren’t any legal barriers to your getting a business license. You can apply for your business license and get licensing information that is specific to your LLC at the Business License and Permit Center.
Learn how to get a Guam Business License.
Guam Professional Licensing Fees
If you work in a field that has specialized training or education requirements, you must get a professional license. Professional licenses are issued by the agencies or boards that regulate different industries. For example, you can get a teacher’s license from the Guam Commission for Educator Certification and a license to practice law from the Judiciary of Guam. Fees and qualifications for professional licenses vary by field and license type. You can get information on specific licensing from the agency or board in charge of your industry—for example, the Health Professional Licensing Office, the Guam Board of Registration for Professional Engineers, Architects, and Land Surveyors, or the Guam Board of Accountancy.
Optional LLC Fees in Guam
Now that we’ve gone over the required costs of starting an LLC in Guam, let’s review some potential expenses you may encounter.
For $25, you can reserve a business name or a DBA in Guam using an Application for Reservation of Name. Reservation is good for 120 days and cannot be renewed or extended, so be ready to register your LLC or DBA and claim your name at the end of your reservation period. Submit your application to the Department of Revenue and Taxation by mail or in person.
DBA (Doing Business as) Name
Register a DBA in Guam for $25. A DBA, or fictitious name, allows you to do business under any name that isn’t your legal business name. To get your DBA, file a Certificate of Transacting Business Under a Fictitious Name with the Department of Revenue and Taxation.
In Guam, DBAs must be unique, so you’ll need to check with the General Licensing and Registration Branch to make sure your desired name is available. Once your DBA is registered, it’s yours as long as you want to use it—no renewal is required.
Certified Copies of Business Documents
You can order certified copies of business documents filed with the Department of Revenue and Taxation for $10, plus $1 per page to copy the document. Many companies like to keep certified copies of business documents on hand for their records or in case such documents are requested by a bank or lawyer. Contact the Department of Revenue and Taxation to purchase your documents.
Find out how to order certified copies of business documents.
Guam Certificate of Good Standing
Certificates of Good Standing are issued by the Department of Revenue and Taxation for $25. You may need a Certificate of Good Standing in situations like registering to do business in another US jurisdiction or applying for a loan. A Certificate of Good Standing shows that your LLC is current on all its Guam filings and fees and is fit to conduct business. Order your certificate by contacting the Department of Revenue and Taxation.
Business Insurance Premiums
If your LLC employs any full-time workers, you’re required by Guam law to purchase workers’ compensation insurance. Workers’ compensation insurance protects employees from undue financial loss due to workplace injuries by paying for medical bills and other costs. In Guam, you’ll have to buy coverage through a private insurer, and rates will vary according to how many employees you have and the type of work they perform.
Another form of insurance to consider for your LLC is liability insurance. Liability insurance covers losses due to natural disasters, equipment or property damage, workplace injury, and lawsuits, helping to protect the investments you’ve made into your LLC. The cost of liability insurance depends on what kinds of risks your LLC is exposed to and how much coverage you want to purchase.
Learn more about LLC Business Insurance.
Cost to Register a Foreign LLC in Guam
If you are expanding your business into Guam as a Guam foreign LLC, it’ll cost you $250 to file a Certificate of Registration of a Foreign Limited Liability Company Application with the Department of Revenue and Taxation. You’ll need to attach certified copies of your Articles of Organization and a Certificate of Good Standing from your home jurisdiction and to appoint a Guam registered agent—all of which may increase your overall filing expenses. Finally, you must pay to obtain all applicable Guam business licenses before you can start legally conducting business in Guam.