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Irwin Law
Irwin Law, Lawyer
Category: Real Estate Law
Satisfied Customers: 7404
Experience:  Lawyer- Broker 30+years - foreclosure, short sale, liens, title attorney.
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We live in and are buying a 2nd home in SC. We will be

Customer Question

Good morning. We live in Virginia and are buying a 2nd home in SC. We will be renting this 2nd home and I was told to set up an LLC and run it as a management company to protect our personal assets, etc. Should I set up the LLC in Virginia or SC? Thanks
Pam Fisne
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Irwin Law replied 1 year ago.

If you set it up, i.e. register and created with the South Carolina Secretary of State, then you will not have to register a foreign LLC (Virginia) in South Carolina. There is only a six dollar difference in filing fees, but Virginia's annual fee is $50 vs South Carolina's $10. Therefore I vote for South Carolina.

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