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Opening Business in the U.S.

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Business in the U.S.

A lot of people are trying to open their business in the USA. For some it is an opportunity to get a Green Card (Permanent Residence Permit) in future, and for someone this is a huge investment potential.

There are several options for starting your business in the States. The first two are designed for foreigners, and the third, rather, for Permanent Residents.

1. Move your old businessTied Man

If the last three years you hold the position of the head (top manager, lead specialist) successfully working for more than a year of the commercial enterprise and you have subordinates, you can get a nonimmigrant work visa. This is called multinational executive transfer and issued for 5 or 7 years. But keep in mind that your American company is obliged to do business similar to the one you have so successfully engaged in at home.

2. Invest in the U.S. economy

Perhaps the most expensive business in the U.S. is for Investors (visas E-2, EB-5) are available only to citizens of countries with which the U.S. has a treaty. Among them, Ukraine, Moldova, Georgia, Azerbaijan, Kazakhstan, etc. (Russia is not on this list). The full list can be found on Travel.State.Gov U.S. department of the state — bureau of consular affairs. The amount of investments is not officially regulated and is considered separately in each case, however, it is usually from $100,000 to $500,000 minimum. You can buy both a ready-made business and a franchise.

3. Open a new business

Of course, you can open your own new business in the States. If you are a resident and you have SSN, it’s easy. However, how to open a business in the U.S. to foreiners? In fact, it’s not so hard. For example, you can find an American with an SSN or hire an American representative.

How to open your business in the U.S.:
  1. Preparation
    You need to study the existing forms of doing business and determine the most appropriate for you. Assess your chances in the market, make a business plan, find an investor or partner, if it is necessary.
  2. Verifying the name of the company
    Before you start a business in America, you need to come up with the name of a future company and check whether there is a legal entity in California with the same or very similar name. Check the availability of the name and even reserve it on the official website of the state secretary.
  3. Registration with the General Secretary of State Department
    The registration form can be filled electronic directly on the site. There you can find some tips for filling it out. The cost of registration depends on the chosen form of doing business and varies on average from $85 to $115. However, it is worth taking into account the additional expenses..
  4. Registration with the tax authorities
    The identification tax number (EIN for residents or TIN for foreigners) is needed in order to pay taxes, be able to open a bank account and hire employees. You can get it for free at the Internal Revenue Service (IRS). To become an owner of EIN, you just need to fill out the online form or send it in print by mail. If one of your employees or representatives has SNN, this will make it much easier for you to start a business in the United States. To non-resident, in order to receive the TIN, it is necessary to print out, fill out and send the form along with other necessary documents by mail. You can also apply through an authorized agent or take the help of one of the Taxpayer Assistance Centers.
  5. Licenses and Permissions
    It’s not enough to open business in America, special licenses and permits are required for work. To find out which of them you need is not difficult in online form on the special website. To do this, you only need to fill in two fields: the name of the city where your business will be located; and what you are going to do (sell flowers, repair cars, deliver parcels, etc., select from the list). After that, the site will give you the list of licenses and permits necessary to carry out your business.
  6. Opening an account with a bank
    After receiving the identification tax number, you can open an account. The requirements for the documents are set by the banks themselves.