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Virginia Certificate of Good Standing

Running a business in Virginia involves much more than just setting up a shingle with your company logo on it and then putting an “Open” sign on the front door. You must ensure that your business is established properly in compliance with state law. Then you must be careful to remain in compliance, by maintaining whatever licenses and permits that are required to conduct operations legally. Not only does this keep you out of trouble with the state, it also enables you to carry out various business-to-business transactions with third-party organizations. 

In the business community, it’s often necessary for companies to prove their legal standing in the eyes of the state. For example, a wholesaler may need to see proof that a retail business seeking to purchase goods is actually authentic. No one wants to do business with an organization that may not have the legal authority to operate at all.

But how does a company go about proving its validity? It can do that by presenting a type of document commonly known as a Certificate of Good Standing, although it can go by other names as well. The State of Virginia issues two distinct types of certificates: Certificates of Good Standing, and Certificates of Fact of Existence/Registration. Both types have the same function—they prove that a business is legally recognized by the state. 

At FastFilings, getting a Virginia Certificate of Good Standing is easy. You can spend just a few minutes inputting some basic business information into our online ordering system, and the relevant paperwork will be forwarded to you as soon as possible.

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What Is a Certificate of Good Standing in Virginia?

A Certificate of Good Standing (or Certificate of Fact of Existence) is a one-page document issued by the Clerk’s Office of the Virginia State Corporation Commission (SCC). It includes and verifies several vital pieces of information relating to a given business, such as its date of registration and a statement of the organization’s status in good standing. The Certificate of Good Standing also includes the seal of the State Corporation Commission, the signature of the Clerk, and the date the document was printed.

Certificates of Good Standing are often used in business-to-business transactions in Virginia to prove that one or more involved companies are recognized as existing in accordance with state law.

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Seller’s Permit and Resale Certificate

How Do I Get a Certificate of Good Standing in Virginia?

A Certificate of Good Standing can always be obtained directly from the Virginia State Corporation Commission—but you can more easily get one from the website you’re already on: FastFilings.com. 

With our ordering system you can request a Certificate of Good Standing (CGS) or a Certificate of Fact of Existence/Registration. So what’s the difference between these two options? It depends on what kind of business you operate:

  • Virginia Certificate of Good Standing – For a Virginia corporation or foreign corporation that is authorized to transact business in the state.
  • Virginia Certificate of Fact of Existence/Registration – For a Virginia limited liability company (LLC), Virginia limited partnership (LP), foreign limited liability company, or foreign limited partnership that is authorized to transact business in the state.

Note that a general partnership is not required to register with the State of Virginia as a legal entity.

Do You Really Need a Certificate of Good Standing in Virginia?

It isn’t necessary to have a Certificate of Good Standing to form a business or conduct everyday operations in the state of Virginia. However, it is sometimes necessary to present a Certificate of Good Standing for certain business transactions. Situations that might require the use of a Virginia CGS include but are not limited to the following:

  • Applying for a business loan or a payment processing account 
  • Establishing a line of business credit
  • Securing investment funding
  • Renewing some business licenses
  • Obtaining business insurance   
  • Selling or transferring your business 
  • Expanding the business into other states

Although a Virginia CGS has no expiration, many third-party organizations expect that a copy of this document will bear a recent date. It’s common, for instance, to ask for a Certificate of Good Standing (or Certificate of Fact of Existence/Registration) that is dated within the past thirty days.

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What Documents Do I Need?

Making Sure Your Virginia Business Is Compliant

If you fail to remain compliant with business filing requirements in the state of Virginia, you will not be able to obtain a Certificate of Good Standing. There are several ways this can happen. One way to become non-compliant is to neglect payment of the annual registration fee that is levied on most businesses operating in Virginia. Aside from interfering with your ability to get a Certificate of Good Standing, failing to pay this fee could eventually result in the dissolution of your business. 

Corporations in Virginia are also required to file annual reports in a timely manner. These reports are due each year on the last day of the month in which your business was incorporated or registered in Virginia. If you are late with your annual report, you will not be able to get a Virginia CGS until this is cleared up. Failing to send the report within five months of the due date will result in the dissolution of your corporation.

How FastFilings Can Help with Your Virginia Certificate of Good Standing

WIth FastFilings, getting your Certificate of Good Standing or Certificate of Fact of Existence/Registration is easy. In just a few minutes, you can input some business data into our system, and we’ll take over from there. It’s the fastest and most streamlined way to request a Virginia CGS.

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