The answer is yes! The US is a country with endless possibilities. Have always aspired to start a business in the US? Have you held yourself back since you are not a citizen? You should then be glad to know that even a foreign national can set up a business in the US.
What are the types of Businesses that foreign nationals set up in the US?
Non-citizens are allowed to open these two types of businesses in the US:
2. Limited Liability Company (LLC)
Your business may be used to sell anything that is legal in the US. It could be goods or even services.
What the Visa requirements for foreign national to set up a business?
You may be surprised to know that you do not need a visa to set up a business in the US. However, you are now allowed to live in the US just because you own a business there.
To be allowed to live in the US, you may apply for either of the Visas below:
1. E2 Visa: To be eligible, you must be a national of any of the countries that are part of a Treaty of Navigation, Friendship, or Commerce. You should be planning to or may have invested significantly into your business. There is no investment limit as yet. However, your application may be considered if the investment is above $100,000. You must also hold more than 50% share in the business.
2. L1 Visa: The L1 Visa is generally awarded to business individuals. Such people have businesses in other countries but are looking to expand in the US. When applying for this Visa, you must attach the physical address of your business. You should also submit a business plan which will support your position in the new branch. The validity of this visa is usually a year. It may be extended if the branch is doing well.
Which is the best state to register your business?
It is best to register your business in the state from where you wish to run the business. However, if you run your business in multiple regions or you have an online firm, you should register your business in a state with the lowest taxes. The states of Nevada and Delaware have the lowest tax burdens on entrepreneurs.
How to register your business?
The registration process for foreign nationals depends on the state that you want to run your business in. It also depends on the structure of your business.
Some basic steps to register your business are:
* Choose a unique name for your business
* The Agent of your company should be available to receive legal documents
* Fill up an incorporation certificate. This needs to be done after your agent and your name have been established.
* Pay the tax for your company and file an incorporation report
* Get an Employer Identification Number (EIN). This will allow you to recruit workers, open a bank account and pay taxes. The EIN will also be necessary to get any required licenses.
Y-Axis offers a wide range of Visa and Immigration products as well as services for aspiring overseas students including Work Visa for USA, Study Visa for USA, and Business Visa for USA.
If you are looking to Study, Work, Visit, Invest or Migrate to the US, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.
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