Introduction: It is not an easy task to start your own business in the United States. There are many rules and regulations that you have to follow to run a business in the US. You have to have a home address in the US so that you can open a bank account. You have to have a valid tax identification number for the business so that you can file your taxes every year. You have to have a business bank account in the US so that you can deposit your working capital or operating cash flow. You have to register with the state, city or county where you are going to establish your business. You have to set up your office in the USA where you can store your valuable files, documents, accounting, tax records etc. All these things are important for running a successful business in the United States. Gaurav Mohindra would like to share his views on it how you can proceed below.
1. Where to set up your business: The location of your business is one of the most important factors to consider while planning your business in the USA because it will directly affect and determine your sales and marketing strategies.
Gaurav Mohindra: Over the years, we know that all businesses strive for sales and marketing growth. The sales and marketing strategies you choose will determine whether or not you succeed by giving you a competitive advantage over other similar businesses.
The location of your business is an important factor when it comes to the success of your company. It has many effects on your company’s growth and expansion in the market.
2. List of documents needed to open a company in the US: For anyone who has ever wanted to open a company in the United States, you probably know that the procedure can be quite complex.
If you are a non-resident, or if your business is not yet incorporated in the US, then you must be aware of all the steps you will need to take to open your company.
The following is a list of the documents you will need to file with the Federal Government to open your company in the U.S.:
i) Articles of Incorporation
ii) State Business License (if applicable)
iii) Federal Tax ID Number (EIN) for your company, which is issued by the Internal Revenue Service (IRS) for tax purposes
iv) A copy of your passport or other identification showing that you are not a US citizen or resident alien.
3. Types of Business Visas in the US: There are several different types of business visas in the US. The first step is to decide on which type of visa you need to apply for. When deciding on a visa, it’s important to realise that each type of visa has its requirements as well as specific requirements as to which states they can be used in.
You will also need to decide on the state where you want to open your business. If you’re opening a restaurant or a hotel, then you should check out the tax laws of the state where the business is based.
4. Choose any business entities in the US: The most common types of business entities in the United States are corporations and LLCs. In general, a corporation is a structure that passes money and liability through a single person or group of people, who are referred to as shareholders. An LLC is a business structure that allows one or more people to set up a profitable entity that keeps owners’ profits separate from their finances. Gaurav Mohindra says you can use both these entities for almost any type of business.