The secretary or treasurer of a domestic corporation must be a resident of Guam. Foreign Sales Corporations are considered domestic as defined in Sec. 278 of the Civil Code of Guam.
Professionals still remain liable for their professional performance.
Pursuant to P.L. 24-103, LLP's and LLC's are eligible to apply for benefits under the GEDA Qualifying Certificate program. All off-island corporations are considered foreign. A foreign corporation must obtain a Foreign Corporation License and a Certificate of Registration before being permitted to transact business on Guam. The managing agent of the corporation must file a notarized statement including the name, purpose, location of home office, capital stock, net assets, resident agent of Guam, accompanied by a certified copy of the Articles of Incorporation and a certificate that the corporation has been established according to the laws of the place of incorporation. A Certificate of Good Standing, usually prepared by the Secretary of State must also be furnished.