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.
If you want East Coast reach without paying New York prices, New Jersey might be your smartest move. Strategically located between New York City and Philadelphia, New Jersey gives startups and growing businesses access to major markets, top talent, and strong infrastructure without the overwhelming costs.
To take full advantage of what the state offers, your out-of-state business must register as a foreign LLC. This process is required for any company formed in another state or country that plans to operate in New Jersey. Foreign LLC qualification allows your company to access legal protections and opportunities under New Jersey law.
This guide explains how to form a Foreign LLC in New Jersey, what to expect in terms of filing, fees, and maintenance, and why registering in the state can benefit growing out-of-state businesses. We'll also discuss the Wise Business account. The global account that can help your company with all things cross-border.
Do you send and receive global payments?
Wise Trustpilot Score: 4.3 stars on 230,000+ reviews
No minimum balance requirement and no monthly fees
Integrates with QuickBooks, Xero, Sage, and more
You need to register as a foreign LLC if your company is actively transacting business in New Jersey. This includes opening a physical location, employing staff or independent contractors, maintaining inventory, or engaging in ongoing contracts creating legal obligations in the state. Even digital businesses may require a foreign LLC qualification if their operations are significantly tied to New Jersey.
Before filing, conduct a business name search through the New Jersey Business Gateway1 to make sure your LLC’s name isn’t already in use. If it is, you’ll need to register an alternate name when submitting your business registration application.
All foreign LLCs must designate a New Jersey-registered agent. This individual or business must have a physical address in the state (P.O. boxes aren’t accepted) and be available during regular business hours to receive legal documents. You can appoint a Jersey resident, an employee, or use a registered agent service.
To get authorization to do business in New Jersey, you must file the Public Records Filing for New Business Entity form2. This filing acts as your certificate of authority. You'll need to include:
This application is submitted through the New Jersey Department of the Treasury3. The filing fee is $125, and online filing is the fastest method.
Once your business is registered, you’ll need to create an account with the Division of Taxation4 for compliance with state taxes. You may need to register for sales tax, employer withholding, or other applicable taxes based on your business structure.
After registration, foreign LLCs must file an annual report5 with the state and keep all registration details up to date. You’re also required to maintain your certificate of authority and update security interests or business structure changes as needed.
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: |
---|
|
Open a Wise Business account online
Pros | Cons |
---|---|
Grants full legal authority to operate as a foreign business | Higher compliance costs compared to some neighboring states |
Access to a massive consumer and corporate market | Complex tax and regulatory environment |
Allows you to hire New Jersey-based employees and contractors | Requires maintaining a local registered agent |
Strengthens ability to enforce contracts and secure licenses | Must file annual reports and pay ongoing fees |
It’s easy to maintain your LLC in New Jersey, as long as you stay compliant with state filing and operational requirements:
If your business secures loans or enters long-term contracts, you may need to update or register any security interests with the state.
New Jersey is a prime location for businesses looking to scale operations in the Northeast. Its proximity to New York City, extensive transportation network, and access to skilled labor make it a strategic move for many foreign corporations and LLCs. Registering as a New Jersey foreign corporation or LLC ensures your business can legally enforce contracts, obtain licenses, and comply with state laws while hiring locally or having a bank account in the state.
For growing enterprises, especially those with one or more Jersey residents on the team or ties to major hubs like Newark or Trenton, foreign registration can reduce liability risks and improve operational efficiency.
Feature | New Jersey | Delaware | Pennsylvania | New York |
---|---|---|---|---|
Filing Fee | $125 | $245 | $250 | $250 |
Annual Report | $75 | $50 | $70 | $9 (Biennial Statement) |
Registered Agent Required | Yes | Yes | Yes | Yes |
Tax Registration | Required | Not always | Required | Required |
Complexity of Compliance | High | Moderate | Moderate | High |
If you plan to expand into the New Jersey market, knowing how to form a New Jersey foreign LLC will keep your business compliant and operational. From appointing a Jersey-registered agent to filing your certificate of authority, the process is manageable with proper planning. Register your foreign business in New Jersey to ensure legal protections, local opportunities, and credibility across the state.
If you’re unsure about the process or legal requirements, an enterprise service or professional filing provider can help streamline registration and compliance.
No, your business does not need to maintain a physical office in New Jersey. However, you are required to appoint a New Jersey-registered agent who has a physical street address in the state and is available during regular business hours to receive legal and tax documents.
With online filing, most foreign LLCs receive confirmation and approval within one to three business days. This timeframe may vary based on state workload or holidays. Mailed submissions typically take longer and are more prone to processing delays if documentation is incomplete or if there are issues with your business name or credentials from your home state.
No. If you begin transacting business in New Jersey without filing for a foreign LLC qualification, your company may face penalties, back taxes, and lose access to New Jersey courts. Additionally, you won’t be able to enforce contracts or defend legal claims until you’ve obtained your certificate of authority.
Yes. You don’t need to be a Jersey resident to form or manage a foreign LLC in the state. There are no citizenship or residency restrictions for LLC members or managers.
Only if that business name is not already in use in New Jersey. If the name is unavailable or doesn’t meet state naming requirements, you must register an alternate or assumed name when filing your business registration application.
A domestic LLC is one that was originally formed in New Jersey. A foreign LLC is created under the laws of another state or country and later registered in New Jersey to legally conduct business operations within the state.
Sources:
*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.
Company formation in Hungary offers access to the EU market, low taxes, and residency options. Learn about the steps, costs, and compliance rules.
Company formation in Romania is a strong option for Americans looking to enter the European market at low costs and low tax rates.
Learn how U.S. entrepreneurs can navigate company formation in Poland, from registration costs to tax benefits, and start doing business in Europe.
Learn how company formation in Bulgaria works, from costs and benefits to registration steps. A full guide for U.S. entrepreneurs entering the EU market.
Learn how to find reliable suppliers in the Philippines for dropshipping or wholesale. Step-by-step tips for U.S. entrepreneurs, expats, and online sellers.
Learn how company formation in Singapore works for U.S. founders, including legal steps, costs, benefits, and compliance requirements.