For many years, the USA has been the most advanced and economically strong country in the world. These are not only very good conditions and a business environment but also an advantage in terms of the stability of laws and legislation. Of course, the financial aspect also has its weight. But a company based in this country has the potential to gain high prestige.
Doing business in America is different in many ways than in EU countries but there are several good reasons why it pays to start a company in the US. A lot of people give very good recommendations for us-reviews.com. Let’s take a look at some tips that will help you start your own business and what you have to keep in mind.
1. Choose the form of the entity
It is the first step for starting a business and to implement plans. There are several options to choose from, but most entrepreneurs are considering setting up an LLC ( limited liability company) or INC (Corporation). For more information see office services reviews and learn what people encourage clients to choose.
2. Choose the state where the company will be located
There are 50 US states to choose from, and it is important to note that they all have different terms and conditions for starting a business. As a rule, you should choose the state where you will actually do business.
3. Check the conditions of the Department of State in the chosen state
It is also a good idea to find out in advance, how long it will take to register a company (in some countries it is instantaneous, in others, it takes several weeks) and whether it is possible to speed up the process for an additional fee. All states have a fee for the establishment – the so-called “Filing Fee” and subsequent maintenance fees on an annual or biennial basis.
4. Choose your company headquarters
For a start, you may only need a virtual address or a mailbox. Also popular are co-working shared offices, where for a fee, you can use either your private desk, the whole office, or just a shared workspace.
5. Prepare and submit the founding document – Articles of Organization / Incorporation in the given Department of State
Find out the form in which you must submit documents, whether they accept online registration, or it is necessary to send the charter by post or fax. Some states accept it even if you submit the form in person.
6. Request a company EIN / Tax ID
It is possible to apply online, by fax, by post or by telephone. Depending on the method you have chosen, the tax office will issue you a tax number immediately (online and by telephone) or within 2 weeks (by fax), referred to as EIN, FEIN or even TAX ID.
7. Open a corporate bank account
You will need a charter and confirmation of the tax number together with your passport, SSN or ITIN number. You can only open an account in person in the USA.
8. Prepare an Operating Agreement
It is a negligible step for those who will be the only owner of their business. However, for the case of several owners, it is good to have defined all roles, responsibilities and permitted activities in the Operating Agreement.
9. Verify the need for licenses and permits in the state, district, and city of business
Based on the selected place of the company, it is necessary to come to the district office, where employees will explain all the necessary licenses and permits for a given type of business.
It might seem like a complicated process, but if you really want to achieve something and once you get started, it will seem like peanuts for you.