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Being a Non-Resident USA, Can I set up a company in USA ?

 
3.7/5 stars (9 votes)
Category : > Corporation
Posted On : Sat Jan 30th,2010

 
Can I Non US Resident set up a company in the USA?
 

How can a Non US Resident register a company in USA?

Generally, A Non US Resident who wants to open either a domestic company or a branch office in the USA have following questions:

Do I need an sponsor or a middleman to set up company in the USA?

The secretary of state and the division of taxation and finance do not distinguish between a US resident or Non Resident to transact business in the US which motivates to a foreign investor to do business in the USA. The only distinction is in time; generally the Internal Revenue Service process the employer identification number same day, whereas a Non US Resident SS4 form process manually and it takes five to seven working days before the Internal Revenue Service issue EIN for a Non US Resident.

Can A Non US Resident open a bank account without being here or someone can open a bank account on his/her behalf?

Most banks want company owner/owners must present at the bank to open a bank account or otherwise authorize to someone but it all depends on each bank policy. Banks also require a physical place of business where the business will be conducted and most banks do not accept the virtual office and registered agent address to open a bank account.

Social security number is required to open a company and bank account?

No, it is not applicable for a Non USA Resident either to open bank account or registering a company.

Does the USA have any Tax Free State to avoid paying USA taxes?

There is no tax, free state in the USA.

How can a Non US Resident gets An Individual Taxpayer Identification Number (ITIN)?

A Non US Taxpayer files a Form W-7 along with the income tax returns to get ITIN and generally the Internal Revenue Service takes a couple of months to process an ITIN application

Does physical address require to open a company in the USA?

Yes, the secretary of state does not allow PO Box or a foreign address to register a company in the USA.

What is the purpose of a Registered Agent and who can serve?

A US citizen or a company which is registered with the secretary of state serve a registered agent. The registered agent is required to transact business and one can serve him/herself a registered agent if he/she is a US citizen and live in the state where the business is being conducted.

Do I have to register company in every state if transacting business?

  • One needs to register business in each state if physically involved. For example; if you have employees in that state or a physical office/store.
  • It is not required to register company in each state if there is not a physical presence.

 

How does a Non US Resident file income tax?

A person who conducts business as a non US resident file income tax based on the residency. For example; A Chinese resident opens a company in New York but lives in China. End of the year, Chinese resident will file a form 1040NR to report income to the Internal Revenue Service.Additionally, a Chinese resident is not allowed to apply the tax credit without a valid social security number like a US resident or citizen does. A Chinese resident also does not do funding in social security due to the Non US Resident status.

Can a Non  US Resident extract or pull the salary for him/herself?

Yes, A non US alien can withdraw salary from the company, but some special rules are applied by the Internal Revue Service, which are defined in Chapter 9 of Publication 15 (Circular E) and Publication 515, Withholding Taxes for Nonresident Aliens.

Other Tips To Maintain Company in the USA As A Non US Resident:

  1. File annual report/franchise reports each year to operate a business under an active company.
  2. File sales tax and payroll tax on time if applicable.
  3. File business and income tax return on time to avoid complications.

 

  


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Comments (152)
arno   wrote on : Fri Jun 04th,2010
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     View Detail
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.





J. Golden   wrote on : Sat Jun 05th,2010
Being a non-resident of USA, how do I go about registering a business?     View Detail
Reply : infotaxsquare.com
 
Dear J.Golden:

Thanks for choosing InfoTaxSquare.com for your business needs. Please use the following link to know the procedure to register a business in USA as a non-resident.

http://www.infotaxsquare.com/view_article.php?id=201

If you have any question please do not hesitate to contact us.

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VM   wrote on : Sat Oct 02nd,2010
Being a non-resident can I register a partnership in USA?     View Detail
Reply : infotaxsquare.com
 
Dear VM:

Thanks for choosing InfoTaxSquare.com for your business needs. Yes you can. There is no such requirement to be either a citizen or a resident of USA to establish a partnership in any state of USA.

The following link can be used to form a partnership :

https://www.infotaxsquare.com/forms/partnership_reg.php

If you have any question please do not hesitate to contact us either through email: support@infotaxsquare.com or call at 516.822.3100.

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For instant news please subscribe at www.infotaxsquare.com


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