If you are starting a business entity in Virginia, you need a registered agent who will transact business on your behalf. Choosing the right registered agent is an important task which is why we’ve created these easy-to-follow guidelines for selecting the right person for such an important job. For even more information about Registered Agents, visit VA Professional Services.
What is a registered agent?
First off, let us define a registered agent. All business entities in Virginia are required to name a person or entity to act as their resident agent. The primary duty of a registered agent is to accept legal documents and notifications from the VA State office on behalf of your corporate entity.
Why does a business entity need a registered agent?
Business owners are often busy with their ventures and don’t have the time to fulfill the tasks of a registered agent. The agent’s role is important because without them you could be completely unaware of a legal claim or judgment that has been filed against you. A business entity needs a registered agent who can be trusted with such confidential matters.
Things to consider in selecting your registered agent
Registered agents require specific skills that can only come with years of education and experience. It’s not uncommon to find agents with MBA or Law degrees. Still, you’ll want to choose the one that will suit your personal preferences and needs. To help in your decision, here is a checklist of important tips on how to choose a registered agent in Virginia:
1. In choosing a registered agent in Virginia, make sure that he/she is a member of the Virginia State Bar. An individual can also be hired as a registered agent if he/she is a member of any management of the business entity. For example, the agent is the director of a corporation, a trustee of a business entity and a member of a liability company.
2. A person can also be a registered agent if he/she has a partnership with a limited partnership firm and with a registered limited liability company.
3. It is also vital to choose a registered agent who is committed to his job. Choose the one who displays passion towards his job. At the end of the day, you will not only need someone who knows what he/she is doing, you also need someone who knows how to love his job because the role of a registered agent can be very stressful.
4. Your prospective agent should clearly explain their process for forwarding your documentation they receive. It’s not unreasonable to expect your registered agent to forward you documents via traceable, overnight shipping. Their communication should include a summary of the documentation and clear instructions about how much time you have to respond.
5. There are many registered agents to choose from and it’s best to complete your due diligence up-front. Reasonable steps can be taken to establish credentials such as performing a background check. You can also consult the internet for information about the registered agents you are considering. Take the time to review their work experience and achievements.