Company Formation in Hungary for US Entrepreneurs
Company formation in Hungary offers access to the EU market, low taxes, and residency options. Learn about the steps, costs, and compliance rules.
Maine may be known for its rugged coastline and small-town charm, but it’s also a strategic place to do business, especially if you're expanding from out of state. Before you begin operating, your company needs to complete Maine foreign LLC registration.
A foreign LLC in this context means an out-of-state limited liability company looking to legally transact business in Maine. You must complete the state’s foreign qualification paperwork to stay compliant and avoid penalties. Here’s what the process entails and what to expect. We'll also discuss the Wise Business account. The global account that can help your company with all things cross-border.
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Maine requires any foreign limited liability company that plans to transact business within its borders to formally apply for what's called “foreign qualification.”1 Failing to do so can lead to fines and prevent your company from enforcing contracts in court.
Here's how to register a foreign LLC in Maine from start to finish:
The name of your foreign LLC must meet Maine’s naming rules and must not conflict with an existing registered business. Your name must include a proper limited liability company designator (like LLC or L.L.C.) and must be distinguishable from any other name on record with the Maine Secretary of State.2 If your name is unavailable, you’ll need to adopt a “fictitious name” (also called a DBA) and file the appropriate paperwork, including Form FICT-204.4
To complete the Maine foreign qualification process, your application must include a Certificate of Existence (also known as a Certificate of Good Standing) from the state where your LLC was originally formed.3 This document must be no more than 90 days old when you file. It proves your company is active and compliant in its home jurisdiction.
Form MLLC-12 is the official Statement of Foreign Qualification required to register your foreign LLC in Maine.5 It asks for your LLC’s legal name, home jurisdiction, principal office address, and the contact details of your Maine registered agent. It also asks for the nature of your business and other essential company details. Be sure to include the required filer contact cover letter when submitting this form.
Every Maine foreign LLC must designate a registered agent with a physical street address in Maine (not a P.O. box). This person or business entity is responsible for receiving legal and official mail on your behalf. You can’t complete your Maine foreign LLC registration without listing a compliant registered agent.
Mail your completed paperwork, including the filer contact cover letter, Certificate of Good Standing, and MLLC-12 form, to the Secretary of State’s office. The filing fee for a foreign qualification in Maine is $250. Standard processing takes about 15 to 20 business days. Expedited options are available if you work through a filing service.
Once you have established your business with an LLC, you’ll need a business account to manage your US finances. A Wise Business account is easy to open online and comes with no monthly fees. You can convert funds from your home currency to USD with low, transparent fees.
Wise is not a bank, but a Money Services Business (MSB) provider and a smart alternative to banks. The Wise Business account is designed with international business in mind, and makes it easy to send, hold, and manage business funds in currencies. You can get major currency account details for a one-off fee to receive overseas payments like a local. You can also send money to countries.
Some key features of Wise Business include: |
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No two states are the same, so before you decide to expand to Maine, consider the operational advantages and potential limitations. Understanding the full picture helps you determine whether Maine is a strategic fit for your business expansion.
Once your foreign limited liability company is authorized to operate in Maine, ongoing compliance is required to maintain good standing.
Your Maine foreign LLC must submit an annual report to the Secretary of State every year by June 1. The filing fee is $150. Failure to file will result in penalties and can eventually lead to the revocation of your authority to do business in Maine.
You must continuously maintain a registered agent in Maine. If your agent resigns, moves, or you decide to change agents, update your business records promptly with the state. Your Maine foreign qualification could be voided if this requirement is not met.
If your LLC changes its principal address, business name, management structure, or state of formation, you’ll likely need to file an amendment with the Maine Secretary of State. Prompt updates are essential for preserving your legal protections.
Foreign qualification does not exempt you from tax obligations. If your business has employees or generates taxable revenue in Maine, you'll need to register with the Maine Revenue Services and possibly the Department of Labor.
Maine foreign LLC registration is not optional for out-of-state businesses conducting activities that constitute “transacting business” under state law. Common triggers include:
Failing to register can limit your ability to enforce contracts, make you ineligible for certain licenses, and lead to monetary penalties. In contrast, a properly registered foreign LLC receives legal protection under Maine law, qualifies for business banking and financing under the LLC’s name, secures the right to enforce contracts in Maine courts, and becomes eligible for both government and commercial opportunities in the state.
No. A foreign LLC is simply an out-of-state business entity registering to legally transact business in Maine. It does not become a Maine domestic LLC.
You don’t need a business office, but you must maintain a registered agent with a physical street address in Maine.
The standard processing time for Maine foreign qualification is 15–20 business days. You may be able to expedite the process through a filing service.
Not if you're transacting business as defined by the state. Operating without registration exposes your business to fines and legal complications.
Failure to file annual reports or maintain a registered agent may result in the administrative dissolution of your authority to do business in Maine. You could also face penalties and be barred from legal recourse in the state.
The expansion of your business to Maine isn’t complete without a foreign LLC registration. Appoint a compliant registered agent and stay current with filings like the annual report and the filer contact cover letter, and your is set up for success.
If you’re unsure about the paperwork or requirements, professional filing services can help you prepare and submit your application, so your Maine foreign LLC gets off to a strong and compliant start.
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*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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