FRANCHISING IN RHODE ISALAND
Registration or Filing Required?
Yes (Registration)
Business Opportunity Laws?
Yes
Rhode Island is a franchise registration state. Under the Rhode Island Franchise Investment Act, before offering or selling a franchise in Rhode Island, you must register your FDD with the Rhode Island Department of Business Regulation, Securities Division. The initial filing fee is $600 and the renewal fee is $300. If you are filing your registration or renewal electronically, you will incur an additional $100 fee. FDD registration must be renewed annually. The Rhode Island Department of Business Regulation, Securities Division regulates the registration and enforcement requirements of Rhode Island’s franchise laws known as the Rhode Island Franchise Investment Act.
You must submit the following items: (1) Current Franchise Disclosure Document (only electronic copies are accepted); (2) Uniform Consent to Service of Process; (3) Tax Payer Affidavit (CD-ROM only); and a Filing fee in the amount of $600 by check made payable to “The State of Rhode Island.”
Franchisors seeking renewal of their franchise registration in Rhode Island are required to file a renewal application that includes: (1) Updated Franchise Disclosure Document (electronic); (2) Tax Payer Affidavit; (3) current audited financial statements; and a (4) filing fee in the amount of $300. You must renew one year from the initial effective date annually to maintain franchise registration under the Franchise Investment Act. All renewals can be completed online.