Business Opportunities FAQ's
Initial Business Opportunity Registration
What do you need to file?
- Business Opportunity Application (PDF)* (which includes a consent to service of process)
- Registration Fee: Check for $200 payable to the State Treasurer
- Disclosure Document (see RCW 19.110.070 Business Opportunity Fraud Act for required contents and format.) Financial statements of the registrant are required by the statute. If not prepared by an independent accountant, they must at least be prepared in accordance with generally accepted accounting principles.) The Disclosure Document must be provided to prospective purchasers at least 48 hours before they sign a contract with you to purchase the business opportunity.
- Advertising (Ads must include the registration number issued by the Division. All ads must be submitted to the Division at least seven days prior to their use.)
When do you need to file?
The statute does not specify a time period. However, you should file at least 15 business days prior to your intended date to begin selling in order to allow for sufficient time for the Division to review your file and issue comments. This is particularly important if you are participating in a business opportunity trade show here in Washington, when many other business opportunities will be registering as well.
You cannot offer your business opportunity until the Division has issued you a permit. The permit is effective for one year and is renewable.
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Business Opportunity Registration Renewal
What do you need to file?
- Business Opportunity Application (PDF)* (a new consent to service of process is not necessary)
- Fee: Check for $125 payable to the State Treasurer
- 2 copies of the updated Disclosure Document - one clean, one marked to show the changes
- Advertising - any new intended ads
When do I need to file?
There is no specified time period. However, it is recommended that, as with the initial filing, you file at least 15 days prior to the expiration of your permit in order to allow sufficient time for the Division to review the filing and issue any necessary comments.
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Business Opportunity Registration Amendment
An amendment is necessary whenever there is any material change in the information required in the Disclosure Document.
What do you need to file?
- Business Opportunity Application (PDF)* (a new consent to service of process is not necessary)
- Fee: Check for $30 payable to the State Treasurer
- 2 copies of the amended information: one clean, one marked to show the changes
When do you need to file?
The statute does not specify a time period, but the amendment should be filed as soon as reasonably possible after the event triggering the material changes, and should be filed before the further sale of any business opportunity.
* This document is a PDF file, and you will need Adobe Acrobat Reader to view it. If you don't already have Acrobat Reader installed on your computer, you may download it for free from Adobe.
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