The United States is renowned for being a fertile ground for entrepreneurship and investment. However, setting up a business there is no easy task.
If you are planning to take the plunge and start your own business in the United States, you must be aware of the determining elements for the implementation and success of your entrepreneurial project. Find out below the essential information you need to know before starting your business in the USA.
Aspects related to visa and immigration to the USA
A particularity with the United States is that it is not necessarily necessary to obtain a visa to undertake, invest or set up a business in the country.
That said, if you are an expat in the USA or if you plan to travel to the territory to manage your affairs in person, you will imperatively need a suitable and valid work visa. The country offers different types of work visa for investors, entrepreneurs and promoters who want to get started in the United States.
One thinks in particular of the E-2 visas for investors and E-1 for commerce. But also the EB-5 visa for immigrant investor and the Startup visa for foreign entrepreneurs wishing to develop a start-up in the USA. Of course, each visa has its advantages and obeys specific criteria. Do not hesitate to inquire at the US Embassy in your country.
Market research and business plan for getting off to a good start in the USA
These two elements are the basis for the success of any entrepreneurial project or business creation process. You must first conduct a good market research in the USA to determine if there is an opportunity to transform your business idea into a successful one.
This implies having knowledge of the sector in which you want to enter, the state of the market, customer needs, prospecting, etc. In short, all the crucial information that you can only obtain by going there. You should therefore consider taking one or more business trips to the United States to gauge the market.
Based on the market research done, you then need to develop a solid business plan. The objective pursued is of course to ensure that you have a viable project that can be easily developed in the economic, legal and fiscal environment of the United States.
Starting a business in the USA when you’re a foreigner
Starting a business is one of the most common ways for foreign entrepreneurs to enter the US market. If you have opted for this solution, you must imperatively find out about the types of companies authorized to foreigners as well as the formalities relating to their creation.
The choice of the business structure
A prerequisite for the creation of your company in the USA is to choose its legal form. There are several, but not all are allowed for foreign entrepreneurs. Far from listing them all, we will discuss here the most common types of companies which are accessible to foreigners, namely:
- The Limited Liability Company (LLC)
- Corporation C
- Sole Partnership or sole proprietorship
- The partnership
Note that the legal form in which you have chosen to set up your business will have an impact on its registration formalities, but more on its management, your personal liability as well as the extent of your tax obligations.
Registering a company in the USA
Once you have defined the type of business you wish to create, you can take the necessary steps to form and register to give it legal existence.
You will notice that each state applies its own rules and requirements regarding the creation of companies. In addition, the procedures therefore vary from one state to another, but also depending on whether the owner is resident or non-resident.
Depending on whether you are carrying out the procedures from American soil or abroad, it is strongly recommended that you be accompanied by a consulting firm specializing in business creation in the USA.
The legal and fiscal environment for business in the United States
Launching your business in the USA finally requires having a mastery of the legal and fiscal framework of business. It goes beyond the simple formalities of starting a business in the United States.
You will need to have a good knowledge of the rules that govern your activity, labor law and the drafting of contracts, if you plan to hire employees. But also and above all the taxation of companies in the State where you do business.