One of the most effective ways of ensuring you meet all the requirements and fill out all the correct paperwork if you’re seeking to start a business in the USA as a foreign national, is to work with a company who can act as a go-between, and guide you through every step of the process. With their expertise and understanding of business in the U.S, the whole process will be smoother and less stressful, plus it will probably all happen a lot more quickly, too.
However, should you choose to go it alone, or would like an idea of the process before you talk to an entity management firm, the following information should be helpful:
Step One
Incorporate your business: choose a business type and state:
Try to keep in mind that when you begin the registration process, you’re in fact registering it in a state, rather than the U.S. in general. While the paperwork required is relatively straightforward, using an online entity management firm will give you the peace of mind to know that everything is correct and above board, and that no forms will be returned to you due to missing or incorrect information.
Step Two
Select a registered agent:
An individual or business registered in the same state in which a business entity was established, a registered agent is designated to receive correspondence from the Secretary of State, process notices and other official government notifications.
Step Three
Submit the Articles of Organization:
Sometimes referred to as a Corporate Charter or the Articles of Incorporation, the Articles of Organization must be submitted; every company must give its’ name and address to the registered agent, number of authorized shares, and the name and address of those incorporating.
Step Four
Request a tax ID number:
Also known as a Federal Tax Identification Number, an Employer Identification Number, or EIN, is used as the official identification of a business entity.
Step Five
Open a U.S. business bank account:
To enable the bank to validate those documents and the information you provided, and your identity, a U.S. bank account is required. To open a business account, you’ll need an official item of photo identification, proof of your home address, bank statements from your account back in your home country, and some banks may require additional verification. Your entity management company will let you know exactly what you need to provide.
Step Six
Register a U.S. mailing address
Step Seven
Obtain a U.S. phone number
Step Eight
Work with an accountant to determine your existing tax situation:
Experts recommend that you work with a U.S. accountant, and one in your home country to help ensure that you meet all tax requirements in both locations.
Step Nine
File an annual report:
Including the name of the registered agent and your businesses address, an annual report must be filed along with the minutes of the annual meeting. Failure to complete this final step in the process can put you in a sticky situation within your home state.
Breeze through each of the above steps by working with an entity management company, and make the entire incorporation process as a foreign national, just another day at the office!