Economy of the Delaware

About Delaware

Delaware is one of the fifty states in the United States of America. Delaware is situated in the Mid Atlantic or in the North Eastern region. It is the second smallest and the sixth least populous state. Delaware is a state which is divided in three counties, the lowest number of counties in any state.

Economy of Delaware

Delaware, as the other states of United States of America, has become a service economy. Delaware generates most of its revenues through the service industries, based in the state.

Agriculture is one of the main revenue generators, in the economy of Delaware. These agricultural products also include livestock, such as broilers. Other than that, it has soybeans, corn as a grain, products for green house and nursery. The dairy products are also included in the Agriculture products.

Manufacturing is an industry that adds value to the raw materials and by creating manufactured items from the raw material. Cotton is valuable but manufacturing cotton cloth from cotton makes both the cotton ball and cotton cloth valuable.

Delaware’s manufacturing industry manufactures chemicals, such as drugs, plastics, industrial chemicals and many more synthetic items.

Delaware has a very strong food processing industry, which is ranked second after production of automobiles.

Mining is a main industry in Delaware. Magnesium is mined in Delaware, which is followed by mining of sand and gravel.

The service industry sector at Delaware covers the industries of finance, insurance and real estate. These industries contribute more to the gross state product than any other industry in Delaware. The regular growth in areas of finance and insurance allows growth in the area of real estate.

The industries of community services, businesses and personal services, that includes health care, law firms, hotels or agencies for car rentals rank second, which is followed by the whole sale and retail trade industry in Delaware.

Why form an offshore company in Delaware?

Delaware is one of the states located in the United States of America has different taxation rules than most of the other states. Delaware Limited Liability Company (LLC) does not pay any income tax if the owner of the LLC is not US citizen, does no business in US and has no office space in US. That is why they are one of the favored destinations for international investors who work outside of US. The only tax that has to be paid is the annual franchise tax.

Form an Offshore Company in Delaware

Benefits of Forming an Offshore Company in Delaware

  1. 0% income tax for Delaware LLC
  2. Company incorporation within 48 hours
  3. Availability of Off The Shelf companies
  4. No need to file annual returns or audited accounts
  5. No local agent required
  6. Full confidentiality and anonymity for the members of the LLC