New Mexico is a great state to set up your business. It’s one of the best business environments in the US. If you plan on setting up a business in the State of New Mexico, one of the foremost requirements of the state government is having a registered agent.
What is a Registered Agent?
A registered agent can be a business or an individual appointed to receive legal documents for your company. These legal documents include tax notices, subpoenas, lawsuits, and others.
All companies doing business in the state of New Mexico must have a registered agent to ensure tracking of all legal mail sent within the state. To become a registered agent in the state of New Mexico, you must meet the following requirements:
- Be able to receive mail during business hours at an office
- Be present to receive the legal mail intended for the business you represent
- Have a physical address within New Mexico. Note that making use of a P.O Box is not allowed.
Registered Agent in New Mexico, who can work as one?
A person must meet certain requirements before he/she can work as a registered agent in New Mexico. These requirements are made by the Secretary of the State of New Mexico.
- A registered agent can be an employee of the company or third parties such as lawyers and registered agent service companies that is a resident or an organization that is located in New Mexico and has a valid street address in New Mexico. Corporations and limited liability companies (LLCs) cannot be their registered agents. However, if you are a resident and of legal age (more than 18) in New Mexico, you are allowed to register as your business’s registered agent in a case whereby you have a start-up business or you are a small business entrepreneur.
- If you are a business owner based outside New Mexico, you must first have the authorization to do business.
Changing your Registered Agent in New Mexico
If you have decided to shift to another agency or entity to represent your company in New Mexico, maybe because your previous registered agent moved out of the state, no longer wants the responsibility, or he left your company for another. Changing registered agents is easy, all you need to do is follow the following steps, as outlined by the Secretary of the State of New Mexico:
- Go to the Change of Registered Office or Registered Agent or Both on the New Mexico State Online Services webpage.
- The document you’ll fill online has step-by-step instructions on how to complete the form, a statement of acceptance section that must be signed by the new registered agent, and instructions on how to submit or deliver the forms.
The form must be correctly filled, note that there’s a fee of 20 dollars must be paid for the document to be processed. The payment can be made through money order or a check that is made payable to the “New Mexico Secretary of State”. The document and the check will then be mailed to the address:
Business Services Division
325 Don Gaspar, Suite 300
Santa Fe, New Mexico 87501.
You have to know that you cannot change your registered agent in the State of New Mexico by just making changes to your annual reports or your Articles of Organization. You can only follow the process explained above.
Should I Get a Professional Registered Agent Service Company?
Getting a professional registered agent company can reduce a lot of effort and time for any business owner. There are numerous benefits to it whether you are an established company or a small business owner. Some of these benefits are:
- Making use of their address instead of your home address, especially if you don’t have an office yet. This detail will be included in public records.
- Registered Agent processes paperwork for you
- Notify you immediately if you receive any new legal mail
- Notify you of mandatory filing of New Mexico annual reports
- Help you to avoid penalties for delayed filings
- Assist you with forms and instructions needed to set up your business
- If you operate a small business out of state, they fill in as your local contact in the state.
Several agencies offer registered agent services in New Mexico. However, you have to be careful in finding a trustworthy agent to handle your business.
Advantages of Using a New Mexico Business Address vs. Personal Address
- A business address minimizes exposure of your home address as public information
- Some city municipalities may not allow using home addresses as business offices
- Using your personal address can probably link you to business liabilities
- Using a business address can help you separate business and personal transactions
Having a registered agent is your gateway to setting up a business in the state of New Mexico. Doing it yourself is possible, but it can eat up a lot of your time, money, and energy. It is better to get a registered agent service and use the resources to build your business instead. Let them help you do business hassle-free in New Mexico.