US Law allows foreigners, non-citizen or US Citizen who live outside the country to register company in USA. Registering or Incorporating your company in the United States will increase credibility of your company. It will also help you to gain access to the vast US market and investors. It is not required for you to visit USA to incorporate your company. You can do it very much from the country you live in. A Registered Agent will help you to get this done. At UCB We work as “registered agent” and also provide you “registered address” when you incorporate your business with us.
LLC or C-Corp?
There are 3 Kinds of company you can form in USA. C-Corp, S-Corp and LLC. S-Corp can be formed only by US Citizens. However being a foreigner you can form C-Corp and LLC, without necessarily adding any US person as a board member/Manager.
Now the question is whether you go for C-Corp or LLC. It depends on your requirements. LLC is a ‘pass-through’ tax entity. Meaning income form LLC will pass through to the owners in the same manner it does with a sole proprietorship or general partnership. However LLCs can also considered be treated as a C-Corp from the tax stand point.
On the other hand C-Corp are taxed as separate entities. They are also subject to ‘double taxation’, if the profits are distributed to the owners as dividends.
C-corp are often the preferred incorporation choice of developing business since owners can hold different types of stock interests. But for small businesses LLC is preferred. As you move on, you may be able to simply convert your LLC’s assets into a new C-Corp.
Which state to choose?
Being a foreigner you can choose to form company in any of the states in USA. However different states have different rules and different taxes. For example Delaware has less taxes for the first year but it will be high compared to other states from second year onwards. Wyoming, New Mexico has the least tax. New York has a rule that, after incorporation you have to publish your company in two news daily, which may cost you additional dollars. Hence your cost of registration may vary depending on the state that you going to incorporate on.
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What is Next After State Incorporation?
Once you do your state incorporation you need to get your EIN. This may take 5-10 business days if You are a foreigner. Once you obtain your EIN, you can approach any US banks to obtain bank account for your newly registered Company. If you are a foreigner, US banks requires you to be physically present at the branch to open a Business checking account in your company name.
UCB Business Solutions helped many businesses in setting up company and bank account in the United States.
Even if you go to the branch and open account, your online access can be locked anytime if they see a slightest concern that you operating it from outside country. Hence it is advisable you have a person available in US on your behalf, who is authorised to operate the account.
At UCB Solutions, We can work with businesses who are legitimate, depending on the nature of business. You can reach us over phone, whatsapp or email 24/7.
- Fast Timeline
- Affordable Cost
- Business Account from USA Bank
- Flexible Options to choose from
- Free Consulting/Guidance
- Easy Documentation
- Multiple States to choose from
- Non-Resident Company Formation
- Bank Account for Non-Residents
- No SSN Required
- Foreign Qualification
- Registered Agent Service