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Setting up a business entity, whether it’s a limited liability company (LLC), non-profit, or corporation, can sometimes seem complicated. One of the first official decisions that a business owner will make is choosing the company’s registered agent to have on public record. If you’re new to the business world, that term may be new to you, but this guide will answer any questions you might have along the way.

To better understand how selecting a registered agent fits in the process of starting a New Mexico business and find out what other steps you’ll need to take before officially doing business in the state, read this guide: how an LLC is formed in New Mexico.

What is a New Mexico registered agent?

A New Mexico registered agent is a person or company selected by the business owner to accept important documents for a business. These documents could include tax notices, legal documents, government correspondence, or service of process (documents served during a lawsuit). The New Mexico Secretary of State does have some rules regarding who can and can’t serve in this role, which we’ll explain later on in this guide.

Read more:  What is a registered agent?

How does an owner select a registered agent in New Mexico?

One of the steps in forming a New Mexico LLC or other business entity type is to complete formation documents, which are known as Articles of Organization or Articles of Incorporation. These documents require the registered agent’s name and registered agent’s address and will need to be filed with the New Mexico Secretary of State. There is a filing fee of $25 to $100, depending on the business type.

Who can be a registered agent in New Mexico? 

In New Mexico, there are a few state requirements a registered agent will need to meet:

  • Agent must be an adult citizen with a street address in New Mexico
  • If the agent is a company, it must be in good standing with the state and have a street address in New Mexico
  • Any person or company with a P.O. box will not be allowed, it must be a physical address
  • The person or company must be available during normal business hours to accept documents as needed

Can I be my own registered agent in New Mexico?

Yes. The business owner of a company can serve as the company’s registered agent. Many owners do this. It’s especially true for owners who work at the company office, otherwise known as the company’s registered office. However, there are other people, such as a friend or employee, and even companies that can hold the position of a registered agent as well.

Why would a company choose to work with a registered agent service? 

There are registered agent services that can also accept your company’s documents on your behalf and notify you when something comes in. For owners interested in working with a service, the benefits include:

  • Availability. Time is sometimes more precious than money when it comes to business, so you must consider your availability. Many start-ups require the business owner to attend meetings, run errands, and travel to meet with investors, contractors, and vendors. Using a registered agent service can guarantee a registered agent will consistently be available during normal business hours as required by law.
  • Experience. When it comes to matters of state and federal compliance regulations, things can get complicated quickly. A registered agent service will have trusted experience from working with other business entities and can even offer additional services to help you run your business well and keep you in good standing with the state.
  • A local business address. If you’re launching a new business in Nevada, you may not yet have a storefront, office, or house in the state. This might mean you can’t fulfill the requirement of having a physical address. By using a registered agent service, you’ll be able to use the agent’s address as your registered office while you continue to build your Nevada business.
  • Privacy.  Service of process documents and other legal notices, which are served by a process server during a lawsuit, are handled by a registered agent. Given the sensitive nature of these documents, some owners prefer that a registered agent be offsite as to not disrupt business.

Read more:  Best Registered Agent Services

How much does a registered agent service cost in New Mexico?

Cost is always an important factor to weigh, especially for newly formed LLCs. The cost of a registered agent service will vary but can be as little as $50 a year. For this fee (plus any additional state fees), the company will serve as your registered agent and notify you of any deliveries. If you’d prefer more advanced features from a registered agent service prices will increase. Some of these additional services could include:

  • Online accounts and online filing
  • Annual reports reminders
  • Certificate of Good Standing
  • Assistance with your business license, operating agreement, or other general business help

List of New Mexico registered agent services 

New Mexico has many registered agents available, but here’s a list of three possible choices. All of these companies offer additional business services too, which could be helpful as your business grows.

  • Northwest Registered Agent is one of the most recognized names in the registered agent business. The company has decades of experience and local offices scattered across the U.S. to serve small businesses like yours. The cost for a registered agent service is comparable to others. Business owners can also take advantage of additional services like report filing.
  • ZenBusiness is fairly new to the market, but it’s grown a strong following. Business owners love the affordable rates for a registered agent service, which are as low as $99 per year. The company also offers worry-free compliance to help business owners file the necessary reports on time.
  • Harbor Compliance is a great fit for organizations that register in multiple states and for those who don’t want to pay excessive service fees. With their network and electronic document delivery, they help ensure your business never misses a legal notification.

New Mexico registered agent FAQs

Do I really need a registered agent in New Mexico?

Yes. The State of New Mexico requires all business entities to list a registered agent with the Secretary of State. If LLC formation documents are submitted without a registered agent listed, they won’t be approved. You’ll be asked to add the registered agent before the state will give the go-ahead.

Can a company change its registered agent?

Yes. The state requires the change to be completed through the Statement of Change of Registered Agent form. It’s filed with the New Mexico Secretary of State (located in Santa Fe) and has a filing fee of $25 for corporations and $20 for LLCs. It may take a few business days for the new registered agent to become official.

What’s a statutory agent?

A statutory agent, resident agent, and service of process agent are all the same as a registered agent. The name varies by state. In New Mexico, it’s referred to as a registered agent.

What’s a commercial registered agent?

A commercial registered agent is a registered agent service. If your company hires a service it’s said to have a commercial registered agent. If the owner or a friend is the company’s registered agent, the company has a non-commercial registered agent.