Steps to Incorporation in Nevada
Setting up your iGaming business in Nevada follows a structured process, ensuring you meet all legal requirements while taking advantage of the state's business-friendly environment. Each step is designed to simplify the incorporation process and position your company for growth.
Step 1: Pre-Application Consultation
Start by evaluating your business model and understanding your regulatory obligations. This stage helps you decide whether a Nevada corporation or LLC is the better option, based on factors like ownership structure, profit distribution, and future plans.
During this step, you’ll also reserve a unique business name that complies with Nevada's naming rules and appoint a Nevada-based registered agent to handle your legal correspondence.
Step 2: Filing and Regulatory Compliance
Once your structure is decided, it’s time to take care of the legal groundwork. This includes drafting and submitting your Articles of Incorporation or Organisation, along with the necessary fees, to the Nevada Secretary of State. After submission, ensure all state laws and requirements are met for smooth processing.
Step 3: Completion and Licensing
The final step transforms your entity into a fully operational business. Once your incorporation is approved, you can open a business bank account and begin signing contracts.
Set up systems to stay compliant with ongoing obligations, like filing annual reports and managing fees. If your business requires a gaming licence, this is the stage where you’ll prepare and submit the necessary documentation to meet industry-specific regulations.
Types of Entities in Nevada
Nevada offers several business structures tailored to the needs of iGaming companies. The Nevada Gaming Control Board officially recognises Corporations, Partnerships, and Limited Liability Companies (LLCs) as valid entities for obtaining gaming licences. Your choice of entity affects taxes, legal obligations, and compliance requirements [4]. Additionally, the Board closely examines corporate structures and ownership stakes.
To operate in Nevada, all iGaming businesses must establish a US-based entity and adhere to both state and federal regulations [2]. With extensive experience in the industry, MGL assists in identifying the most suitable entity structure to support long-term growth. Below is an overview of the primary entity types and their benefits for iGaming ventures.
Corporation
A Nevada corporation provides robust liability protection for shareholders and facilitates raising capital through stock offerings. This structure requires a board of directors and regular shareholder meetings, making it a traditional yet reliable choice.
Corporations are particularly appealing for iGaming businesses planning to go public or attract large-scale investors. However, they come with potential downsides, such as double taxation and more complex administrative processes.
Limited Liability Company (LLC)
Nevada LLCs are increasingly favoured by iGaming operators due to their flexibility and tax advantages. Unlike corporations, LLCs allow profits and losses to pass directly to members' personal tax returns, thereby avoiding double taxation.
LLCs combine liability protection with operational flexibility and minimal formalities. This makes them an attractive option for startups and mid-sized iGaming operators seeking a balance of protection, efficiency, and simplicity.
.png)
