It is no wonder that the United States is a land of opportunities, and it allows people to explore their opportunities to establish a business in the USA. Starting a new business could be an enthralling process; however, it requires to you follow a set of guidelines, principles, and policies to initiate your business venture in the USA.
If you are a non-citizen or a non-resident citizen, you are required to go through a series of processes to gain permission for starting your business on the land of United States. It is no wonder that the economic and political circumstances in the USA have levied regulation on foreigners for starting their businesses within the premises of USA. A foreign businessperson is required to follow the given guideline to be able to start his business in the USA as a non-citizen resident:
What kinds of corporate entities can I open in the U.S. as a non-resident?
Initiating a business in the United States of America generally requires you to acquaint yourself with the corporate entities offered to the non-resident citizens. You can operate your business in the areas of Limited Liability Company (LLC) and Corporation sector (C-Corp). However, you are also presented with the option of S-Corporations, which is reserved for non-resident business owners.
If you break down and analyze your options, you will find that resorting to C-Corp entity makes a suitable pick for your business, and it is far more prosperous and advantageous as opposed to a LLC entity. The business structure of a C-Corp entity is stable and it opens a room to several advantages for a business owner. It allows you to reserve your rights on unlimited stock. A business affiliated with a C-Corp is also protected from the involvement of IRS authorities, which minimizes the splurging of the taxes on your business. However, you are required to devise an assiduous tax plan, which enables you to assemble and manage the taxes generated by your business.
On the contrary, if you choose LLC as your business entity, it will result in safeguarding you from the liabilities which would be used for business purposes, and it would also secure your personal assets, in case your business is countered with a debt.
Will I need a visa to open a U.S. business?
Opening a US business as a non-resident requires you to obtain a visa. However, you can easily get a hold of the E-2 visa, which is alternatively known as the start-up visa, and it helps you to start with the process of initiating your business in the US as a non-resident. You are required to cross-check the given qualifications to become eligible for an E-2 visa:
You should be able to have more than 50% controlling share on your business, and you should keep the proof of shares and proof your income available with your all the time.
Starting a business in the US as a non-resident requires you to invest a substantial amount of investment in an American-based business. The amount of investment varies accordingly according to the type of business; however, it could range between $100k and $500k for each businessperson.
If you are considering acquiring an E-2 visa or a startup visa for opening your business in the USA then, you should belong to a country that is affiliated with Treaty of Friendship, Navigation, and Commerce.
Once you have accomplished the given qualifications, it would also allow your partner to become entitled to a work permit in the USA. However, obtaining an E-2 visa is not synonymous for a Green Card visa, and you should avoid mistaking it for each other at all costs. If you are able to invest a substantial and colossal amount of $500,000 in your business, directly and upfront, you ascertain your rights over a Green Card by Investment visa, which would earn you a permanent residence in the USA.
What is the process for registering my company?
Once you have accomplished the above given initiatives, you will be required to acquire a registration for your business in the United States. However, it should be noted that the registration process is subjected to change as per the regulations and laws of the state where you plan to open your business. You are also required to stipulate the nature of your business, and categorize it as a C-Corp or an LLC business accordingly. You can follow the given process for registering your company with the states:
You are required to choose a unique and distinctive business name, which has not been registered elsewhere in the country. You should be considerate when choosing the name of your company to avoid the occurrence of any copyright infringements. You can count on the US Patent to retrieve information on the names of the existing businesses in the country.
You should be present in the country to acquire the required documentations of your sprouting business. However, if you plan to operate your business from overseas, you should assign an agent on your behalf, which would take care of the involved responsibilities.
Once you have obtained the documentations, you will be asked to complete a certificate of incorporation to proceed further. This particular certificate compiles the name of the company, the location of the company, worth of the shares invested in the company, and the information of your business’ incorporator.
Next, you will be asked to submit an incorporation report to an authorized figure along with the franchise taxes.
Once you have accumulated and completed the given requirements, you should proceed further for retrieving your employer identification number (EIN). Always remember that you cannot start or operate your business without your EIN, as it would assist you in acquiring your business’ licenses, hire a workforce, open a bank account, and take care of other business processes.
Where else can I find help?
If you are considering initiating your business in the United States as a non-resident, you are required to seek assistance from certain organizations to boost the growth of your business. You can reach out to US Small Business Administration, and they will comprehensively guide you to taking initiatives for starting your small business in the United States.
You can also consider acquainting yourself with the corporate law of the state, where you plan to open your business. Additionally, you can reach out to United State Government’s Business USA, and the authorities of this organization will provide you with the aid to get started with your business.
Also, if you are a non-resident citizen in the United States, you will be required to take crash courses on the business modules and the business practices applied in the USA.
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