Today’s video by Joy Okoro is all about how non-US citizens can easily form a US company in 2023, without needing to physically visit the US. The video provides step-by-step instructions and valuable information on the benefits of registering a US company, including access to platforms like Stripe and a US business bank account. It also emphasizes the importance of obtaining an Employer Identification Number (EIN) for tax information submissions. If you’re a non-US citizen looking to form a US company and gain access to various opportunities and verifications, this video is a must-watch!
In the video, Joy Okoro recommends using Incfile as a formation company to register a US company online. She also shares advice on choosing a suitable state to form the LLC, focusing on affordable options with zero-dollar annual fees. Additionally, she discusses the process of obtaining an EIN and recommends using Mercury as a free alternative to Bank of America for a small business bank account. The video concludes by highlighting the affordability of Incfile’s services and the ease of forming a US company for non-US citizens. So if you’re ready to take advantage of the opportunities that come with registering a US company, this video is packed with valuable information to help you get started.
Benefits of Registering a US Company
Registering a US company as a non-US citizen can provide you with numerous benefits and opportunities that may not be available to individuals from certain countries. From accessing platforms and verifications to completing tax information submissions and obtaining an Employer Identification Number (EIN), forming a US company can open doors for your business. In this article, we will explore these benefits in detail and guide you through the process of registering a US company as a non-US citizen.
Access to Opportunities, Platforms, and Verifications
One of the major advantages of registering a US company is gaining access to opportunities, platforms, and verifications. Certain platforms and verifications may only be available to US entities, limiting your business expansion if you do not have a US presence. By forming a US company, you can overcome these restrictions and take advantage of a larger customer base and increased credibility.
For example, if you are a non-US citizen looking to utilize services like Stripe to accept international debit and credit card payments for your business, forming a US company is crucial. Many countries may not have access to Stripe, but as a US company, you can legally register and utilize this platform to expand your business globally.
In addition, having a US company allows you to complete verifications that may be required for certain services or partnerships. These verifications might not be available to individuals from your country, but as a US company, you can fulfill these requirements and unlock various opportunities.
Completing Tax Information Submissions and Obtaining an EIN
Another important benefit of registering a US company is the ability to complete tax information submissions and obtain an Employer Identification Number (EIN). If you have a Google AdSense account and want to submit your tax information using your LLC, forming a US company is essential. By utilizing your US company’s tax information, Google may not deduct taxes from your earnings, ensuring you receive your full earnings.
Additionally, obtaining an EIN is crucial for non-US citizens forming an LLC. Similar to Social Security Numbers (SSNs) for US citizens, EIN numbers serve as identification for your company. Without an EIN, your company registration is incomplete, and you may face limitations in conducting business operations.
Choosing a Formation Company
When it comes to registering a US company, choosing the right formation company is crucial. One recommended option for non-US citizens is Incfile. Incfile is an online formation company that allows you to register your US company conveniently from the comfort of your home.
Incfile offers fast LLC formation, typically within 48 hours, and provides excellent customer support throughout the process. They also offer affordable pricing, making it an ideal choice for non-US citizens looking to form a US company.
Choosing a State to Form the LLC
Before proceeding with the registration process, you need to choose a state in the US where you want to form your LLC. The United States has over 50 states, each with its own state fees and annual fees. It is important to consider affordability when selecting a state, especially as a non-US citizen.
Fortunately, there are several cheap and affordable states where you can form your LLC. These states offer lower state fees and in some cases, have zero-dollar annual fees. By choosing one of these states, you can register your US company without breaking the bank.
Obtaining an EIN and Registered Agent Address
After selecting a formation company and a state for your LLC, the next step is to obtain an EIN and a registered agent address. As mentioned earlier, an EIN is essential for completing your company’s registration. This identification number is required for various business operations and ensures that your LLC is fully recognized.
A registered agent address is also crucial for your US company. This address serves as your business address and is used for various online transactions, such as signing up for services or platforms using your US company. It provides legitimacy and professionalism to your business.
Setting Up a Business Bank Account
Once you have obtained your EIN and registered agent address, the next step is to set up a business bank account. While Bank of America is an option for a small business bank account, another recommended alternative is Mercury. Mercury offers a free business bank account for non-US citizens, ensuring that you can receive US dollar payments and make transfers to your local bank account without incurring any charges.
Step-by-Step Guide for Forming a US Company
Now that you understand the benefits and have the necessary information, let’s walk through the step-by-step process of forming a US company as a non-US citizen:
Step 1: Research and Planning
Before starting the registration process, conduct thorough research and plan your business structure and goals.
Step 2: Choosing the Type of Company
Decide on the type of company you want to form, whether it is an LLC, C-Corp, or S-Corp, depending on your business needs and preferences.
Step 3: Registering with Incfile
Visit the Incfile website and select the appropriate package for forming your US company. The gold or platinum package is recommended as they provide comprehensive services, including the EIN.
Step 4: Selecting the State to Form the LLC
Choose an affordable state from the list provided earlier and proceed with forming your LLC in that state.
Step 5: Submitting the Necessary Documents
Complete the required information and provide the necessary documents to Incfile. This includes your personal details, registered agent address, and other pertinent information.
Guide for Registering on Stripe
As mentioned earlier, Stripe is an excellent platform for accepting international debit and credit card payments. Here is a step-by-step guide on how to register your US company on Stripe:
Step 1: Creating an Account on Stripe
Visit the Stripe website and create an account using your US company information.
Step 2: Linking the US Company
Provide the required information to link your US company to your Stripe account. This includes your EIN and other business details.
Step 3: Completing the Verification Process
Follow the verification process outlined by Stripe to complete the setup. This may involve providing additional documents or information to ensure compliance with their requirements.
Opening a Mercury US Business Bank Account
To take advantage of a free business bank account with Mercury, follow these steps:
Step 1: Visiting the Mercury Website
Go to the Mercury website and begin the account opening process for your US business bank account.
Step 2: Providing Required Information
Enter your US company details and personal information as requested by Mercury. This may include your EIN, business address, and relevant identification documents.
Step 3: Verifying Identity
Complete the identity verification process as outlined by Mercury to ensure the security and legitimacy of your account.
Step 4: Accessing the Account
Once your account has been successfully verified, you can access and start utilizing your Mercury US business bank account.
Review of the Registration Process and Payment
In conclusion, registering a US company as a non-US citizen offers numerous benefits and opportunities. By choosing a reputable formation company like Incfile, you can easily navigate through the registration process and ensure that all necessary steps are completed. With affordable state options and the ability to obtain an EIN and a registered agent address, you can establish a legitimate US presence for your business.
Incfile’s services are affordable and offer excellent value for the price. The free bonuses, including a step-by-step guide for registering on Stripe and a detailed guide for opening a Mercury US business bank account, make the entire process even more convenient and comprehensive.
By following the outlined steps and taking advantage of these resources, you can ensure a smooth and successful registration process for your US company.
Conclusion
Forming a US company as a non-US citizen provides numerous benefits and opportunities for your business. From accessing platforms and verifications to completing tax information submissions and obtaining an EIN, registering a US company opens doors that may otherwise be closed to individuals from certain countries. By choosing the right formation company, selecting an affordable state, and following the step-by-step process, you can establish a US presence for your business and unlock a world of possibilities as a non-US citizen.
In summary, here are the key benefits and steps for forming a US company as a non-US citizen:
Benefits:
- Access to opportunities, platforms, and verifications
- Completion of tax information submissions and obtaining an EIN
Steps:
- Research and planning
- Choosing the type of company
- Registering with Incfile
- Selecting the state to form the LLC
- Submitting the necessary documents
- Registering on Stripe (step-by-step guide provided)
- Opening a Mercury US business bank account (step-by-step guide provided)
With these benefits and steps in mind, you can confidently start the process of registering a US company as a non-US citizen and unlock the potential for international business success.