If you are planning to expand your business in Florida, then you can consider either doing it yourself or getting the services of a Florida extension company. There are many firms that are offering their Florida business services but finding the one that is best for you can be difficult. However, if you know what you are looking for and how to find it, you will be more satisfied with the results. Before going ahead with any kind of business transaction, it is necessary that you are aware of its consequences and implications.
A typical extension procedure usually involves filling out of an application form, paying a fee and signing some papers. Once all these are done, the said extension office will present its plans and designs on how they plan to finish up with the extension project. The first thing you should do before hiring any of the Florida extension offices is to verify whether they have the required licenses and certifications. It is also advisable to check if they have the necessary liability insurance coverage. Extension offices can also give you the necessary advice and recommendations concerning the kind of extension procedure that would suit your business requirements.
This is perhaps the most important part of the whole procedure, since this will indicate whether the business you are engaging is indeed legal and valid. The certificate issued by the Florida department of financial services is called the” Certificate of Title” or “Certificate of Registration”. The state of Florida offers different kinds of extensions that depend on the type of business you have.
There is a basic difference between the different kinds of extensions. First, there is the non-recourse right which is just like a mortgage on your real estate property. The second kind is the recourse right whereby you can reclaim your property within a specific period after the completion of the extension. The last kind is the guarantee right whereby your property will be returned if the extension office has not complied with its obligations. Knowing the exact differences of each kind will certainly help you in determining the one that will work best for your business.
Once you have made up your mind regarding the type of procedure that you will be applying for, you should then visit the Florida extension office in the specific county where you want to obtain the extension. This will allow you to choose from the list of procedures which are available in the state of Florida. It is then advisable that you choose one from the list and proceed with the application. The most popular procedure that is most preferred by most businessmen is the collection process. Since this type of procedure does not necessitate court authorization, it is highly preferred by most businessmen. You should make sure that you talk to a licensed attorney before proceeding with this kind of procedure as it may involve penalties and fines if your application is denied.
Businessmen often apply for extensions based on the location of their establishments. For instance, if you have a retail store in Florida, the Florida extension office may offer you a non-recourse right to extend your business to that particular county. In case your store is closed during the winter, you will be able to submit an application for extension across the board regardless of whether your business is open or closed. However, this option is not allowed if you have already closed your business.
A good thing about this extension process is that there are different procedures for each business structure. There are five types of business structures available in Florida: partnership, limited liability company, limited liability partnership, corporation, and sole proprietorship. If you are interested in a specific type of extension, it is advisable that you ask the specialists at the Florida extension office. They will provide you with the option depending on your business structure. For instance, if you have a partnership with many partners, it will be difficult to change the partnership’s duration because every partner will need to sign a separate document pertaining to the extension. A sole proprietorship has no limitation on the duration of the extension but you have to fill up a form and submit it to the office.
An extension procedure in Florida differs based on the authority that granted it. The county government is the supreme authority and you can easily ask for an extension on its own. On the other hand, the courts have to give their consent in case you have lost your status as a homeowner by reason of nonpayment of mortgage. In both the cases, the procedure takes place in the local court. The process is very simple and you just have to prepare the necessary documents and submit them to the office. You will receive a reply from the office regarding your request.