What is a Certificate of Good Standing or Certificate of existence?

A Certificate of Good Standing, also known as a Certificate of Existence, is an official document issued by a state government or regulatory authority to confirm that a business or organization is in compliance with all necessary requirements and is legally registered to operate. This certificate provides evidence that the business is up to date with its filings, such as annual reports, taxes, and licenses. It also indicates that the business has paid all necessary fees and is in good standing with the state. This document is often required when a business wants to expand, enter into contracts, or apply for certain licenses or permits. It demonstrates the credibility and legitimacy of the business to potential partners, clients, and lenders.