Do you want to receive credit card payments on your ecommerce website but you don't know how?
Would you like your own virtual or physical
U.S. Bank Account and Credit Card?
You can form your own U.S LLC
to unlock many opportunities.
Stop leaving money on the table!
Package 1:
The 1st one is a one-time payment of approximately $U.S.400 to register your LLC
It's a one-stop shop for all things Business related. In addition to LLC Registration and EIN number, you are given the option to build a website, Register a domain name, design your company logo and use their S.E.O. services to rank your website or store on Google.
Link here: https://bit.ly/3eCCZTL
Package 2:
This package starts with an annual payment special of US$297 + a one-time state fee
They also offer an All-inclusive monthly subscription to take care of all your business needs.
Link here: Doola
Types of Entities Available to a non-u.s citizen
Let's get started by discussing the types of corporate entities a noncitizen can establish in the USA. They are:
A limited liability company also known as an LLC or a Corporation also known as a C Corp.
Now you may have heard of an S corporation,
but this option is only available to permanent residents also known as greencard holders or U.S. citizens.
Do I need a visa to open a U.S. business?
The answer is no.
You do not need a U.S. visa to start a business in the USA nor to purchase an existing business.
However, you do need a visa to be able to work for the business from within the U.S. You can own the business and receive your share of the profits but you cannot work for the business without having a visa.
Let's look at an example of how this could work for you. Let's say you start a jewelry shop in Florida, and you hire a manager to manage the daily operations. Now, you are a passive investor in the business. you own the business, but you do not work for the business. This is permissible to do without a visa.
However, if you wanted to be at the jewelry shop and run the daily activities including: overseeing sales, marketing, advertising, accounting, etc. then you would need a visa.
The answer is no.
You do not need a U.S. visa to start a business in the USA nor to purchase an existing business.
However, you do need a visa to be able to work for the business from within the U.S. You can own the business and receive your share of the profits but you cannot work for the business without having a visa.
Let's look at an example of how this could work for you. Let's say you start a jewelry shop in Florida, and you hire a manager to manage the daily operations. Now, you are a passive investor in the business. you own the business, but you do not work for the business. This is permissible to do without a visa.
However, if you wanted to be at the jewelry shop and run the daily activities including: overseeing sales, marketing, advertising, accounting, etc. then you would need a visa.
If you wanted to start a restaurant in the U.S. and you hired a manager to manage all the operations and you were not involved - then again this would be considered a passive investment and you would not need a visa.
However, if you do want to be involved in the daily activities of the business in some way, then you will be required to get a U.S. visa to be able to work for the business that you own.
STEPS TO REGISTERING YOUR US LLC
Now, let's get into the steps that you can take to start a business in the USA as a noncitizen. I do recommend that most companies that are forming in the U.S. start as a limited liability company or LLC.
1.The first step to starting an LLC in the U.S. is choosing the state of incorporation, but for an LLC this is called the state of organization. Your Registered Agent will provide you this service.
Please Note:You will have to submit a yearly fee to your Registered Agent.
The Best State to Register your US LLC
The Best State to Register your US LLC
Generally, the best state to register your LLC will be the one you will be conducting business in. However, if you're an online company or do business across multiple states, then you may want to consider registering in a state with a lower tax burden such as Nevada, New Mexico, Wyoming, or Delaware.
Delaware is particularly popular thanks to its well-respected corporate laws that provide significant protections to business owners. The right choice for you will depend on your particular circumstances.
Delaware is particularly popular thanks to its well-respected corporate laws that provide significant protections to business owners. The right choice for you will depend on your particular circumstances.
Wyoming on the other hand has cheaper annual franchise fees to keep your LLC of $US107. compared to Delaware $US300. and Nevada $US350.
2.The second step is you'll want to choose a name for your LLC. The name needs to end with LLC or limited liability company.
Now, you'll need to check the name you've chosen with your state before registering your LLC to make sure that it is available. You should also check with the U.S. trademark and patent office's trademark database to make sure that the name has not been trademarked.
Why do you need a Registered Agent
Your registered agent is responsible for receiving notices from the state, notices of a lawsuit, and other legal documents.
2.The second step is you'll want to choose a name for your LLC. The name needs to end with LLC or limited liability company.
Now, you'll need to check the name you've chosen with your state before registering your LLC to make sure that it is available. You should also check with the U.S. trademark and patent office's trademark database to make sure that the name has not been trademarked.
Why do you need a Registered Agent
Your registered agent is responsible for receiving notices from the state, notices of a lawsuit, and other legal documents.
A registered agent can be an individual, trust, or another company.
After you've selected a registered agent, you'll want to decide on how your LLC will be managed. There are two types of LLC's - member-managed and manager-managed.
Most entrepreneurs choose a single member LLC.
A manager-managed LLC is formed in a single member LLC, where the members in a multiple member LLC, only want a passive role and do not want to be part of the daily operations of the business.
In this situation the member or members elect a manager or managers to run the everyday operations.
3.Now that you have the LLC formed and an operating agreement in place, you'll need to obtain a federal employee identification number also known as an EIN which your registered agent can also provide.
An LLC's EIN is used for reporting taxes, opening a bank account, and hiring employees. You will need to fill out an IRS SS-4 form in order to do so.
4.Now that you have your LLC's EIN, you are ready to open the LLC's bank account. Non U.S. residents can open an LLC bank account online with Mercury Bank.
To open a physical bank account with Mercury, you'll need:
your LLC approval documents, copy of your passport, your contact information, the LLC's address, which can be the address of your registered agent, the LLC's proof of an EIN, and submission of Mercury's online application.
Please note that Mercury Bank is a best fit for online businesses and not cash intensive businesses.
If you will be handling a lot of cash deposits, then mercury would not be a good fit.
However, if you will be accepting all credit card transactions online, then Mercury would be a great fit for a physical US Bank.
You may also appoint a person who is
living in the U.S. to act as a manager of your manager-managed LLC and give that person authority to open your LLC's bank account.
However, this is a risky proposition because that person will have access to the account.
Need help with filling out of annual tax forms for your LLC. Please email: digitalstoredeals@gmail.com
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Obtaining your US Bank Account
Another option is to open a virtual business bank account using either Payoneer.com or Transfer Wise.
The other alternative to opening a virtual bank account is to open a physical bank account by traveling to the U.S. and opening one in-person.
You may visit a multinational bank near you. For example, Banco Santander, Royal Bank of Canada, Barclays, HSBC, etc. and ask if they can help you open an account for your US-based LLC bank account.
If you are from one of the countries that allows for you to travel to the U.S. on your passport or ESTA, also known as the visa waiver program, then you can establish your bank account that way.
All banks have different policies concerning opening business accounts, so the best thing to do is to call the bank ahead of time and ask to speak with the branch manager.
Tell them that you have a U.S. LLC and that you are a non-U.S. resident and that you do not have an SSN but you do have an EIN or ITIN number for your limited liability company.
Ask them for all the documentation they require to open an account and take detailed notes. Also, ask if they can send you this information via email or if it is listed anywhere online.
Then ask the branch manager if you can email them your documents for review before coming into the bank. If everything looks good, ask the branch manager if you can make an appointment to meet with them to open the account.
Plan to stay in the U.S. for at least 1 to 2 weeks just in case there are any delays or extra things you need to get to open your account.
Additional things to do may be applying for a business license, permit, or other document, while in the U.S.
After setting up your LLC bank account, you should speak with a tax advisor or certified public accountant to oversee your bookkeeping and taxes(optional).
So now you're ready to create your online business to start making money. All the best to you!
Please note
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