How to open a company in the USA? Registering a business in the country

Creating an American company is an excellent way to expand and develop your business through the American market, as well as the opportunity to obtain a business visa or business immigration to the United States .

The United States allows foreign nationals (non-residents) to register a company and open a business in the United States, even if the foreigner does not live permanently in the country. However, depending on the state, there are certain restrictions that must be followed.

Advantages of registering a company in the USA for a non-resident

✔ International reputation, favorable economic and business environment.
✔ Access to new markets.
The United States is the country with the largest market in the world, and which has the most developed network of trade agreements with many countries in the world.
✔ Access to cutting-edge technology
The United States is renowned for its technological advancements, and foreign entrepreneurs open companies in the United States to gain access to cutting-edge technological innovation.
✔ Global Communication
Highly efficient connectivity to global markets through air, sea, rail and road transport.
✔ Incentives offered by federal and local governments.
Many states and individual cities offer financial and tax incentives to foreign entrepreneurs who open their own businesses there.
✔ Availability of skilled workers
The United States has a developed higher education system that gives companies access to skilled workers.

Main stages of company registration in the USA:

1. Select a state for business in the USA

Each state has its own tax rules, fees, and laws for business registration.

Therefore, if you want to register a company in America, and you are not tied to any specific state, then you must first carefully approach your choice.

When choosing a state to register a company in the US, it is recommended to take into account: whether you will have a physical office or presence (for example, employees or retail space); which state has the potential for growth of a particular type of business; what are the requirements for the minimum authorized capital; where there are lower registration and annual fees, corporate taxation, etc.

2. Select the legal form of the company

Foreign citizens register their business in the United States as an LLC or C-Corp, since these business structures do not limit the number of foreign owners.

• Limited Liability Company - LLC
- Suitable for small businesses with a small number of members. Most states allow LLCs to have one member.
— Has no shareholders and does not issue shares.
— They have practically no restrictions on the distribution of profits between their participants.
— Reporting is submitted once a year online or by mail.
— It is not a public company and does not go to the stock exchange.

• C-Corporation (C-Corp)
- Medium to large sized companies.
— Owners are shareholders of the corporation.
— The organizational and legal form is more complex than that of an LLC. A president, shareholders, board of directors, officers, etc. must be appointed. Depending on state law, a corporation may be owned by an individual and have only one officer and director.
— It can be a public corporation and go public.

3. Come up with 3 options for the company name

This number of options allows you to quickly solve the problem if one of the names was not accepted during registration.

The company name must meet the following requirements:

• 100% uniqueness of the name;
• easy readability;
• the name should not mislead the future consumer of your services/products.

4. Draw up a Charter or Memorandum of Association

Bylaws must be drawn up for corporations. This is a corporate document that outlines the basic rules of how your corporation will operate.

And for an LLC, a Memorandum of Association is required, which defines the powers and rights of each participant.

5. Register a company in the selected state

In the USA, companies are registered by state secretariats. Depending on the State, your own package of documents is required, which is provided to the Secretariat. For example, in the State of Nevada, before registering a business, you must provide a List of Officers - a list with the names and positions of the company's directors and top managers.

And in California, such a list is called Statement of Information and it must be submitted to the Secretariat after registration of the company.

Some states (Arizona, Nebraska, and New York) require that notice of LLC formation be published in a newspaper and proof of publication submitted to the State Department within 120 days.

And the states of Arizona, Georgia, Nebraska and Pennsylvania require that a notice be published in a newspaper indicating that a C corporation has been formed in that state.

If you decide to open a company in the USA remotely, then at this stage you will need a Registered Agent (representative) since without an agent you will not be able to receive a single official document from government agencies. The Registered Agent must have a physical address in the United States and be available at that address during business hours.

6. Get a company tax number EIN

Employer Identification Number is an employer identification number, also known as a taxpayer identification number.

Obtaining an EIN number is necessary for the following purposes:

• open a bank account in the United States,
• hire employees;
• submit reports to the tax authorities (IRS),
• apply for permits, licenses, trademarks, etc.

7. Open a corporate bank account in an American bank

This is one of the most difficult stages, since US banks are reluctant to open both personal and corporate accounts to foreigners.
Opening a corporate bank account in the US for your company can be done after you have formed your LLC and received your EIN.

Over the past few years, the government has tightened the procedure for opening accounts for non-residents, prohibiting banks from opening accounts without proper identification of clients, that is, without personal presence. American banks adhere to the principle of “Know Your Client” and conduct a thorough check of the information provided by a potential client.