The USA is a country of great opportunities, and many immigrants decide to open their own business here. 99.7% of American companies are small businesses and half of the entrepreneurs work without leaving home. And it is small companies of which 30 million in the country, that create half of the jobs for Americans.
Being an American entrepreneur is easy. According to the World Bank, the United States ranks sixth in the business ranking. This assessment takes into account criteria such as simplified company registration, taxes, access to credit. You can become an entrepreneur even if you come as a tourist. The path to their own business is open even to illegal immigrants.“
You can open a company and make a profit while being outside the status of a resident.
How to choose a form of organization?
In the United States, you can open a corporation (Corporation) or a limited liability company (LLC). If you work for yourself and do not plan to hire employees, you can not open a company and become a self-employed entrepreneur (self employed).
The owners of the corporation are called shareholders. Corporations are usually chosen by those people who plan to attract additional investment, access to the stock exchange.
In the field of technology startups, where people expect to attract venture capital, the registration of corporations in Delaware is popular, as this state has favorable laws, good protection for owners, and a massive base of precedents in business law.
Submit a separate declaration
If the LLC has only one owner, the incorporate company in Delaware does not need to submit a separate declaration. The annual report is submitted as part of a personal tax return, in most cases it is literally one page. If the LLC has several owners, an operating contract is concluded between them, which set out the responsibilities, the procedure for attracting new participants, withdrawing profits, and so on.
The owner of the LLC cannot pay his salary, he can only withdraw profits (withdraw money from the account), or pay himself guaranteed payments (guaranteed payments). These distributions are self-employed at a rate of 15%. A shareholder of S Corporation is obligated to pay his salary if he wants to withdraw money from the company; in addition, there are strict limits on the amount. “If you withdraw money from your S corporation, but did not pay your salaries, or exceeded the withdrawal limits, then in the case of an IRS check you will be presented with tax evasion and will be strictly punished.
Choice of form of organization
The choice of form of organization depends on your financial, family situation, immigration status. Each form of business has its pros and cons. In some cases, it’s worth it to think hard whether you need a company at all.
If you do not have a work permit, this does not mean that you cannot become an entrepreneur. Even if you do not have any status, you can completely legally obtain an EIN and register a business in your name. Nobody forbids you to be in the company at any time of the day or night; you can answer phone calls, help with papers, and do everything that is necessary for the work of your company.