GUAM, IS BY FAR, THE BEST U.S. JURISDICTION IN WHICH TO INCORPORATE

A well structured Guam Corporation can eliminate the need for the company managers to spend endless hour following useless corporate formalities and more time on operating their business. When properly drafted, a Guam corporation is equal to or better than an LLC  in terms of management flexibility.

First, one person can be the sole share holder, officer and director.

In fact, there is no need to even have a board of directors, eliminating the need for an annual meeting and unnecessary paperwork.

If meetings are required, shareholders and directors may participate electronically and the meetings may be held anywhere.

The shareholders, by agreement, may

• Eliminate the board of directors,

• Agree how profits and dividends will be distributed – distribution does not need to be based on the number of shares held.

• Allow services  or products of the corporation to be provided to shareholders and directors on preferential terms,

• transfers to one shareholder or any other person the authority to exercise all of the corporate powers and to manage the business,

• Allow one shareholder or other person to decide to dissolve the corporation.

When these terms are set out in the Articles or in an agreement, failure to follow the usual corporate formalities cannot be grounds for piercing the corporate veil or holding shareholders liable for the debts of the corporation.