As a contractor, one of the things you should be perfect at is staying one step ahead of the competition, since the industry you are in can be quite unforgiving. Most of the contractors who understand this and don’t have the best opportunities in their current states often opt to move their businesses to neighbouring states as foreign limited liability companies (LLCs.

If you’ve identified the perfect chance for you to grow in Oregon and are planning to shift your company, there are a couple of things you should know to remain compliant. Keep reading to find out.

1. Registering Your Business

Every out-of-state business operating in the Beaver State has to register with the Oregon Secretary of State, and this includes contractors and construction businesses. You can elect to submit your business registration form or complete the registration online. The information you need for this process is the same you would need when registering your business back home:

• Name of your company
• Date the company was organised
• State of organisation
• And more

2. Acquiring Your Licence

As you can expect, you will need a licence to offer your services, just like the contractors who already have established businesses here. While reciprocal licences are allowed in some cases, such situations are limited. At the same time, most businesses in the construction field in Oregon require licences. You can choose either a residential or commercial licence, or both if you plan to switch between the two endorsements. Each endorsement has additional classifications under it, such as general contractor, speciality contractor, restoration contractor, and lots more.

You also have to complete 16 hours of law and business training and take an exam before getting your licence. The course and exam will have to be completed by the selected Responsible Managing Individual (RMI) in your company. It’s highly recommended to purchase a premium Oregon CCB-approved course from a top-rated provider like RocketCert. That way, you’re not only sure that the course contains all the necessary topics, but this will also improve your chances of passing the exam on your first attempt.

3. Getting the Appropriate Bonds and Insurance

When submitting your application form, you will be required to send a couple of documents as well. These will include your proof of insurance and the right surety bonds for your licence. If you’ve got workers, therefore, make sure to get the right compensation insurance for your company.

You can talk to insurance agents about this, to determine which insurance is right for you. If all the contractors you work with are independent contractors, on the other hand, you may not need compensation insurance. For this, you may need guidance from a lawyer.

Bear in mind, however, that you will have to obtain general liability insurance for your company as long as you are licensed. Again, your best bet would be to seek the assistance of a reliable insurance agent in finding the most appropriate package for your company.

4. Understanding the Penalties

As you prepare to move your business and set it up in Oregon, keep in mind that there will be steps you can’t skip, no matter what, since doing so will only land you in trouble and attract penalties. Some of the steps you never want to miss include registering your business, acquiring the right licence for the services you offer and purchasing the appropriate insurance.

You can work with a lawyer for guidance on setting up your business correctly or any other construction-legal needs since penalties are often quite expensive and can ruin your experience from the start.

Make Your Licensing Journey Easier

Moving to Oregon as a contractor is a good idea, as long as you’ve done your research to ascertain that it’s an appropriate location for your business. While at it, you should establish the best school for your pre-licensing course, since educational requirements are often challenging for first-time licence applicants.

RocketCert not only offers the right course to make it easier to pass your exam on the first attempt, but they also educate you about the licensing process so you never have to worry about missing a step. Head over to rocketcert.com today to learn more.