Did you know you don’t need to be a U.S. citizen or hold US stay permit to start your business in the United States? Moreover, you don’t even have to be a US resident. Yes, starting a business in the US is quite simple and inexpensive. If you start your business in the right place, you can benefit from numerous pro-business legislations and laws; so, you can protect your money, privacy and your business.
Why United States?
It is quite obvious, yet let us explain it. The United States is the biggest market with a great diversity. It is a great land of opportunities for the ones who want to expand their businesses thanks to its 320 million culturally colorful population. You can get more information about import-export on https://www.export.gov/welcome.
The advantages of starting a business in the US are not limited to those. By starting your business in the US, especially in Delaware, you can get a better legal protection for you and for your personal privacy. Additionally, you can avoid lots of taxes and expenses. You will benefit from low taxation for your trades from/to the U.S.
Where to Start a Business
Samet Oynamis ,founder of social enterprises, says that Delaware is the most common state when it comes to starting a business in the US. You can confirm this even with a quick online search. Even though Nevada has also become a good option for starting businesses, Delaware is a really special place, not only within the US but also internationally, with its traditional pro-business legislations and reliability.
The main reason why many people choose Delaware to start businesses is because it is a real pro-business state. Delaware makes it easy when it comes to starting, operating, or closing a business. Additionally, Delaware has numerous benefits in terms of taxation and legal protection.
Here are some details about Delaware:
- A single individual can be in charge of the business.
- There is no minimum amount obligation that you are expected to have in your bank account in Delaware to start your business, which usually 1,000,000$ in other states.
- Delaware does not require the documentation of every right owners’ names, which means your business protects it privacy.
- Delaware does not collect state income tax from business that do not operate inside the state.
- If you start your business in Delaware, your business will be subject to Delaware corporate law which is worldwide famous for its pro-business system and experience in cases.
- Managers can sell their shares with the price they desire.
- Starting a business in Delaware is quite simple and takes only a few steps.
- You do not even need to be physically in Delaware to make your application. You start/complete your process with the help of agents.
Simple and Inexpensive Process
There are numerous business types that can be established in the US. Most common business types are LLCs and General Corporations. Of course, they have differences. Regardless of their types, all businesses share some basic steps. Those steps are quite simple and inexpensive. However, it should also be stated that this advantages are not the same in every state. This is what makes Delaware a special state. There can be other steps in other states which are more complicated and expensive compared to those of Delaware.
The first step of starting a business is to choose a name for your business and to verify its availability. Then, you need to choose the appropriate business type and make your application to the state by preparing a certificate of formation (name and content of this certificate depends on business types). You actually start your business after completing these simple steps. You can get more information about steps for each business type here.
Other steps you need to complete after starting your business. Those steps are simple yet crucial for your maintainability.
It is not over yet! However, those steps are also quite simple and inexpensive. When compared to those in Turkey, those steps for your business maintainability can easily be completed and you can maintain the continuity of your business with small prices.
You are obliged to hold a registered agent in the US. A registered agent is simply the communication tool of your business. Even if a business is not operating within Delaware, it is required to have a registered agent to which all necessary documents and mails sent to you can be delivered. There are many consultancy services about this.
If the business owner is a resident of the state, he can also be the representative of his own business.
Most Important Issue: Taxes
Most important things to do after starting a business in the US is taxes. Just as it is in other countries, Taxes are strictly controlled in the US. However, as we have stated before, if a company is not operating within Delaware it is exempt from tax liabilities of the State of Delaware mainly because it has no source of income in this state. These businesses are only required to pay the Franchise Tax, an annual state fee.
Besides, if your business has employees (except from its managers), it has to be registered to the Internal Revenue System for employee-based taxes (such as taxes arising from wages or compensations). This is also a quite simple step and even if the business executive is not a resident of the US, this step can simple be completed by getting a Tax ID for your business.
There is only one different step that should be completed by non-US citizens or non-US residents.
There are lots of advantages and a convenient legal atmosphere to help foreigners start businesses in Delaware. The only different step that should be completed by non-US citizens or non-US residents, in this regard, is to get a personal tax ID. That is mainly because there is no identification record in the US for this non-US citizen or non-US resident. This step can be completed with a small expense and in a short time by getting a personal tax ID number.
You can start your business or get consultancy today.
If you think starting a business in the US is not as easy as it seems, you may need a professional support. Surely, starting a business in Delaware is one of the best actions you can take for the growth of your business in a global scale, or to start a completely new business and maintain it. If you need more information, please contact enterprises.social, delawareagency.com
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