How to register your company in USA as Non-Resident
Can non-U.S. residents form a business here in the United States?
While the answer to our question is definitely a resounding, “yes”, not many foreigners are aware of this, but you can form a company in USA even though you are not a U.S. citizen. How to register your company in USA as Non-Resident
Were you thinking of the same thing too? Did you also want to open a company in U.S. but ended up not pursuing your desire since you thought you’d need to be a U.S. citizen?
If you answered, “yes”, then it’s high time that you get your act together. We will share with you four very important points that you need to consider when starting a company there.
The first step is deciding what type of business you want to form, how you plan to form it, and what it will cost to start this business. This step will also involve a careful review of your budget to make sure you have the money to form the business. Review this information:
- Where your business will be established and incorporated
- Immigration requirements, such as visas
- Protecting your intellectual property
- Staffing needs
- How you will need to access U.S. capital markets
- Any licenses that may be required
- Available tax incentives
- Supply chain, marketing, and other support needs
In the Company Planning Stage you will determine such practical matters as:
- The name of the company
- Whether to be a corporation or a limited liability company
- Which state to incorporate in and which states to register in
- Determine the capitalization of the company (how many shares at what par value, and how much each shareholder will contribute to the company as their capital contribution
- Determine who will be the shareholders, officers and directors
- Determine the roles and responsibilities of the company’s officers and directors
When you complete the first two steps carefully, the third step should go smoothly. Make sure to provide all required documentation when forming your company. You will then take action:
- Register the business
- Register in any other states, if needed
- Hold the first business organization meeting, which involves issuing shares of stock to the shareholders, appointing directors and officers, and taking other organizational actions
- Open a bank account
- Obtain a federal EIN from the IRS
- Obtain office space, start marketing products, hire employees, and run the business
While not a requirement during the business registration phase, an Employer Identification Number (EIN) is necessary to open a bank account, secure a business license, obtain loans, hire employees, and pay taxes, a necessity, therefore, in the overall scheme of things.
An EIN can be applied for directly from the IRS for free, but if you’d rather not do it yourself or you find the forms and procedure confusing, then look for a business formation specialist who can help you with the process. Before going through the motions of setting up a U.S. business, make sure that you can actually open a U.S. bank account. While it does seem simple on paper, as earlier mentioned, this process can be really tricky.
While not necessarily a walk in the park, non-U.S. residents can legally form U.S. companies, and even obtain permanent resident status by making substantial financial contributions to the U.S. economy.
If this is a route you plan to undertake, it pays to know your options and the possible obstacles you would have to hurdle before taking a major step forward.