Every day, more and more foreign entrepreneurs are looking to take advantage of doing business in the USA — not only for its excellent infrastructure and access to the largest consumer market but also for minimal or no taxes (under certain conditions) for foreign owners. In this article, we share everything you need to know about doing business in the USA.
- Registering a Company in the USA To get started, you need to register an LLC. This is the most popular choice for foreign entrepreneurs due to the following benefits: Minimal setup costs: the registration fee is approximately $1500, including a fast EIN and opening a bank account. Zero taxes: An LLC with foreign owners does not pay taxes in the USA if it has no office or employees in the country. Anyone residing in a country not on the sanctions list can register an LLC in the USA. If you are a citizen of Russia or Iran but a resident of Argentina or any other non-sanctioned country, you can freely conduct business in the USA — form an LLC and open business accounts.
- Opening a Bank Account — the second important step. One of the key aspects of running a business in the USA from abroad is the ability to open a bank account remotely. The USA has many neobanks (such as Mercury, Rely, etc.) that allow accounts to be opened fully remotely. You can also open an account with a representative at Bank of America or Chase if you prefer traditional banks. The process is quite convenient and does not take much time. The main advantage is that if you do not have a US visa or the time to visit, you don’t need to.
- Excellent conditions for international business: Access to the largest consumer market. Ease of managing a company thanks to a convenient financial system and no taxation for foreign owners. Ability to accept payments from all over the world, including SWIFT transfers.
Imagine you own a design studio or a communications agency. You live in Spain, your team is in other countries, and your main office is Zoom. To make collaboration with clients not only efficient but also economically beneficial, you can utilize an LLC in the USA. You sign contracts with clients worldwide and do not pay taxes because your office and team are distributed globally. Your remote team continues to work successfully, and your business grows thanks to access to the largest consumer market and the prestige that comes with an American jurisdiction.
Running a business in the USA from another country* is possible and profitable. You can take advantage of the American business environment, minimize tax obligations, and effectively manage your business remotely. *Ensure you are a resident of a non-sanctioned country. We covered how to open a business in the USA in our guide. We are happy to answer all your questions and provide guidance on doing business in the USA during a free session — click the link to schedule a convenient time with the founder of ptc.tax, Konstantin Kharitonov.
