QUESTION
Can I register my company in the US as a Public Benefit Company if I'm not a US citizen?
Asked on Sep 13th, 2017 on Business Law - California
More details to this question:
I'm an EU citizen. My company is currently registered in the UK. It's based entirely online with international customers. Our model perfectly fits the description of a PBC and it would send a very clear message to our customers and shareholders. Unfortunately there is no equivalent in Europe.
1 ANSWER
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No. The articles of incorporation of a not for profit, whether public benefit, mutual benefit etc. are totally different from that of a for profit. There are no shareholders at all, no distribution of profit and an irrevocable dedication of all assets to charitable use during and after the its existence. There are other potential vehicles
There are "benefit corporations" (Not public benefit corporations) and "flexible purpose" corporations, but your specfic question and goal cannot be achieved as you propose.
Answered on Oct 06th, 2017 at 8:12 AM