How To Start A Business In Virginia (2024 Guide)

Dana Miranda is a Certified Educator in Personal Finance® and founder of Healthy Rich, a platform for inclusive, budget-free financial education. She’s written about work and money for publications including Forbes, The New York Times, CNBC, NextAdvi.

Dana Miranda is a Certified Educator in Personal Finance® and founder of Healthy Rich, a platform for inclusive, budget-free financial education. She’s written about work and money for publications including Forbes, The New York Times, CNBC, NextAdvi.

Dana Miranda is a Certified Educator in Personal Finance® and founder of Healthy Rich, a platform for inclusive, budget-free financial education. She’s written about work and money for publications including Forbes, The New York Times, CNBC, NextAdvi.

Dana Miranda is a Certified Educator in Personal Finance® and founder of Healthy Rich, a platform for inclusive, budget-free financial education. She’s written about work and money for publications including Forbes, The New York Times, CNBC, NextAdvi.

Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small Business where she served as an editor and strategist c.

Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small Business where she served as an editor and strategist c.

Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small Business where she served as an editor and strategist c.

Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small Business where she served as an editor and strategist c.

Brette Sember is a retired attorney who has been writing and editing law and legal topics for more than 25 years. She is the author of more than 40 books, is a nationally recognized expert on divorce and family law and has a depth of experience that.

Brette Sember is a retired attorney who has been writing and editing law and legal topics for more than 25 years. She is the author of more than 40 books, is a nationally recognized expert on divorce and family law and has a depth of experience that.

Brette Sember is a retired attorney who has been writing and editing law and legal topics for more than 25 years. She is the author of more than 40 books, is a nationally recognized expert on divorce and family law and has a depth of experience that.

Brette Sember is a retired attorney who has been writing and editing law and legal topics for more than 25 years. She is the author of more than 40 books, is a nationally recognized expert on divorce and family law and has a depth of experience that.

Updated: Apr 17, 2024, 12:22pm

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Table of Contents

• 1. Choose a Business Name
• 2. Register Your Business
• 3. Get Your Business EIN
• 4. Apply for Required Permits or Licenses
• 5. Open a Business Bank Account
• 6. Get Business Insurance
• 7. Market Your Business
• Bottom Line
• Frequently Asked Questions (FAQs)

Starting a business in Virginia doesn’t have to be complicated. To get your business officially up and running, you’ll need to name your business, choose a type of business entity, register the business, get tax ID numbers and apply for necessary licenses or permits. Follow along for step-by-step instructions on how to start a business in Virginia from registering it through the Virginia State Corporation Commission and acquiring necessary licensing to getting an EIN and marketing. Here’s how to start a business in Virginia in seven steps.

You must register your business under its official name, so start by choosing a name for your business. This could be a brand name you want to use publicly or just a name you’ll use officially for the business entity.

You can choose almost any name you want for your business, as long as it:

• Is not being used by another business entity registered in Virginia or a nationally recognized business, and not too similar to an existing entity. You can use the Virginia business entity search to see whether your preferred name is available in the state.
• Doesn’t include words or abbreviations that imply it’s a different kind of business entity than it is. For example, an LLC can’t include “Corp.” or “Inc.” in the name.
• Doesn’t imply it’s a bank, trust, insurance or public service company or a profession that requires a license, such as an architect, doctor or engineer. (Flagged terms might be allowed as long as the rest of the name makes your intent clear, such as “Love Doctor.”)

Your registered business name is required to include words or abbreviations that indicate the structure of the business, including:

• Stock corporation: Company, corporation, incorporated, limited, Co., Corp., Inc. or Ltd.
• Limited liability company: Limited company, limited liability company, LC, L.C., L.L.C. or LLC.
• Limited partnership: Limited partnership, L.P. or LP.

Beyond these requirements, consider the following when choosing a business name:

• Do you want it to include your personal name or be open to growing beyond you?
• Do you want it to reflect the current products or services you offer or be flexible to pivoting in the future?
• Will you use this name as the business’s trade name (public brand), or are you creating a business entity that can hold any or many brands you create?

If you want to create a business entity that can include other brands, you can use a DBA (trade or fictitious name) for those other brands that’s in line with how you present them publicly and makes it easy to treat each as its own asset within your company.

If you know the name you want to use for your business but aren’t ready to register the business yet, you can apply to reserve a business name for up to 120 days for a $10 fee.

2. Register Your Business

You can register a business in Virginia online through the State Corporation Commission, which will walk you through the information you need to provide. You’ll start by creating an account with the SCC Clerk’s Information System (CIS)—you just need a username and password.

The cost to register a new LLC or LLP in Virginia is $100, and the cost to register a new corporation starts at $75 and goes up depending on the number of authorized shares.

Once you’ve created an account, you’ll need to provide basic information about your business through the application, including:

• Owner’s name(s), contact information and percent owned
• The type of business entity
• The primary business address
• The business name
• The name and address of the registered agent (RA)
• The management structure of the business
• Optional: Upload your articles of organization or incorporation (if you do not, the system will create one from the information you entered)

Choosing the Right Business Entity

The business entity you choose for your company depends mainly on the structure of ownership in the business, as well as the potential future of the business.

• If you’re the sole owner of the business, you might run a sole proprietorship or a single-member LLC. You don’t have to register a sole proprietorship. If you want legal and financial separation from your business, you can register an LLC.
• If you’re a small business with multiple owners, you could register for a limited liability partnership (LLP) or an LLC. LLPs are most common for licensed professionals, including attorneys or accountants.
• For a more complex business, you’ll likely choose between an LLC versus a corporation. A corporation is usually necessary if you want to bring on investors, and it might make it easier to sell the company in the future.