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arno   wrote on : Fri Jun 04th,2010   Back to Article

Hi , i live & work in the US , i have a H1B Visa . I want to start a business & form a company in the US . The company will have 2 members/shareholders myself & one other which is a South African citizen . The purpose of this company will be to manage services which has been outsourced to other companies i.e. wine importer , distributor & brokers . This company will own the rights to certain wine brands but will not import & distribute . I would really appreciate your assistance , or you can put me in touch with someone i can talk to please Regards

Reply : infotaxsquare.com
 
Dear Arno:

Thanks for choosing InfoTaxSquare.com for your business needs.

Be a US resident or citizen is not a criteria to establish a business entity in the USA.

Based on the information you have provided. It seems, the nature of business is a drop shipper or a delivery on demand directly from your suppliers.

In this situation, a business name has to be registered with the secretary of state or the county clerk's office of your state which is not described. A South African Citizen who is a non US resident can participate as a member or stockholder in the company regardless of a physical presence.


How does a South African Citizen file taxes in the USA?

The South African Citizen will file taxes as a Non US Resident, and will apply for an ITIN from the Internal Revenue Service.

What is a parameter to register a company in the USA for a South African Citizen?

  1. A business plan is prepared which covers the assets, protect, tax effects and flow of the work.
  2. The business name is registered in the state where the operation will be conducted along with the local licenses.
  3. A memorandum of understanding will be prepared and signed both the parties which will reflect the responsibilities of each party.
  4. A license must be obtained if building a brand, such as sales tax permit which is generally required in most states of the USA.





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