As a non-resident, starting a business in the United States can be difficult, but the country makes it simple to register and establish a company. If you want to do business with Americans, you must be able to communicate in English. Read on to know how to set up a company in the US as a non-resident.
Every day, foreign nationals establish businesses in the United States, everything from companies to little boutiques. Many businesses throughout the world rely on access to the US market to succeed. The most efficient approach to enter this market is through a US company, which can take advantage of the world’s largest and most integrated national market while paying the lowest tax rate. When you have the assistance of a team with experience in company formation, immigration, import-export, and supply chain, incorporating a company in the United States as a non-resident is simple.
- From a customs and tax perspective, it’s easier to sell in the US market
- Access to venture capital, angel investors, and public markets in the United States
- Improve your company’s reputation, both with US customers and in a number of diverse markets
- It is easier to obtain a work visa in the United States (but acceptance is not assured!)
- You may be able to decrease your tax on income earned in the United States.
Starting a new business or extending an existing one to a new country may be a thrilling yet challenging task. The complexities of establishing a business ideas in a foreign country can be overwhelming, especially given today’s political and economic uncertainties. Non-citizens should take the necessary procedures and use all of the resources available to them in order to succeed in their endeavours.
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Types of Business Entities You Can Open in the US
There are currently two types of business entities that non-residents can form in the US.:
Limited Liability Company (LLC)
When starting a business in the United States, an LLC, or limited liability company, is likely the finest business structure to use. Members are protected from personal liability for corporate decisions or actions, and their personal assets are safeguarded if the company goes into debt or issues. LLCs are also exempted from the stringent bookkeeping regulations that C and S-corporations are subject to.
A corporation, often known as a C-Corp, provides the best protection against personal liability for its owners; nonetheless, the cost of forming a corporation is higher than that of other business structures. The opportunity to expand by providing unlimited shares is the most massive benefit of forming a corporation; this is frequently very appealing to investors. The disadvantage is that, unlike LLCs, corporations are taxed on their profits and may be required to pay twice in some situations.
What Is the Process for Registering a Company in the US as a Non-Resident?
The registration process varies slightly from state to state and is mainly depending on whether you’re forming an LLC or a corporation. After you’ve decided on a business structure and a location to start your company, you’ll need to do the following steps:
- Choose a unique name for your LLC or C Corp
- Hire a registered agent service
- File for incorporation with the state
- Get an employer identification number (EIN)
- Obtain a physical U.S. mailing address
- Set up a U.S. bank account.
Learn more about How to Register a Company in the USA?
Will You Need a Visa to Open a US Business?
You can technically start and own a business in the United States without being a citizen. It is legal to manage an LLC or corporation from outside the United States, but you will not be allowed to enter the country without a valid work visa. Contact the US Embassy in your home country or the US commercial service if you have any queries or need more information about applying for a visa. There are other types of business visas available in the United States, but the E-2 visa is the most popular among entrepreneurs. The following are the three main requirements for obtaining an E-2 visa:
- You must be a citizen of a country with which the United States has signed a Treaty of Friendship, Commerce, or Navigation
- You must have already invested or plan to invest a large amount of money (at least $100,000) in a US firm
- You must be able to demonstrate that you own a controlling interest in your company (50% or more).
An entrepreneur may be qualified for a ‘Green Card through Investment,’ which would allow them to become a permanent resident of the United States. The law, however, only applies to foreign investors who can invest $1 million in a new commercial venture (or a minimum of $500,000 in designated employment regions).