How to start a business in America - company formation USA, remote bank accounts & EIN numbers
The USA has always been lauded as the country of big business. Despite the rise in the ranks of countries such as India, China and the United Arab Emirates, America is still the country to conquer for many global entrepreneurs.
The USA is one of the world’s largest national economies, leading the way in many sectors including technology and medicine. The go-getting attitude amongst entrepreneurs and the hugely encouraging atmosphere within the business community means the USA is a hub for small and big companies alike.
But opening a business in the US for non-residents can sometimes be a tricky affair where issues such as EIN numbers, visas and bank accounts can put a stop to the big “American dream”. And how do you decide which state offers the most benefits for you and your company? Luckily, with our extensive network of US experts, Euro Start Entreprises is able to offer a full company incorporation service in every state in the US for non-US residents with tailor-made packages that include legal & accountancy consulting, serviced offices and immigration.
Company Registration USA – New Companies & Ready-Made Companies
Company registration in America can be confusing, especially as it differs from state to state. Our team of legal experts can register your company adhering to all the relevant state laws to avoid delays and unnecessary expenses - essential if you need to launch your company immediately. Not only can we set up a company from scratch, we can also purchase and register shelf companies and ready-made companies, providing company registration in the USA to many different types of businesses in different industries and markets.
What are the best states to open a business in?
Some states such as Delaware and California are particularly attractive for foreign businesses:
For those of you who want to get your business off to a quick start with the least stress possible, Delaware is the state. It only takes one week to incorporate your business and you do not even have to go and visit the state. Delaware is one of the most popular states for company incorporation. Here are just some of the reasons why:
- NO corporate income tax provided you do not trade in Delaware. You can effectively incorporate your business in Delaware, operate in another state or country, and pay no corporate income tax.
- NO sales tax if you are not operating within the state.
- You must pay an annual franchise tax – this is often only $75 flat fee, or $250 for an LLC incorporation.
- Tax benefits do not stop there - shares of stock are not subject to Delaware state taxes if the owner resides outside of the state. One individual may act as the company president, secretary, treasurer, and sole director.
- Numerous types of business can be operated under a single corporate structure
- It is not obligatory to hold frequent shareholder meetings – instead these can be held in written forms of communication
- Non-shareholders are permitted to join the board of directors
- You can keep corporate records in any state, does not have to be Delaware
- No personal property tax
California offers unparalleled value to companies seeking the optimal business location. Its critical mass of business services, intellectual capital, financial acumen, transportation systems and market access make California the most efficient place to do business in the world. The long-term outlook for California’s economy and business climate is as sunny as the legendary climate. Here are some of the requirements for opening a business in California:
- Minimum share capital $1
- An increase in the shares may cause an increase in the initial filing fee.
- At least one director is required.
- Residency for directors is not required.
- Directors are not required to be listed in the articles of incorporation.
- The name must contain corporation, incorporation or an abbreviation.
- The name must not be similar to any other incorporation.
- Local taxes with an EIN Number.
What about opening a bank account in the US?
After the tragedy of September 11, opening a bank account in the US became much harder. The authorities now insist on more forms to fill in and more items of identification.
The first thing you need in order to open a bank account in the US is obtain an EIN number which stands for an Employer Identification Number – the equivalent of a tax office ID.
However, if you are a non-US resident, this can be difficult to come by. And be warned – don’t be sucked in by illegal websites that promise you a cheap deal on opening an account without an EIN. You might find you’ll end up travelling all the way to the States to open a bank account and be turned away at the door. Our reputable contacts can help you obtain EIN numbers and sort out visas for you.
What other services are offered?
As a non-US resident you may need to have a physical office in the respective state. We can make this a stress-free process for you by satisfying your budget and requirements in sourcing the best suitable office and location for you. Our serviced offices come fully equipped with all the technology and staff you require allowing you to focus on building your business.
Should you prefer to manage your company from a distance, we can offer a virtual office service for this exact need. Our virtual offices include phone, email and mail forwarding facilities from a prestigious trading address, allowing you to manage your company from anywhere in the world.
For more information about company incorporation in the USA, along with any other issues including remote bank accounts, EIN numbers and visas, please contact us on 0033 (0)1 53 57 49 10 or email us from our contact page and we’ll be happy to help.