Advantages and features of creating an LLC in the U.S. with an account in a U.S. bank
Whatever happens in the world, the United States of America is always associated with stability and peaceful and prosperous life. The "American Dream" still exists, but it has changed a bit. Now it sounds more like buying an LLC in the US with an American bank account.
The pros and cons of doing business in America
- The oldest and most developed banking system in the world;
- Ability to register your business remotely and in a short time;
- The name and prestige of the jurisdiction;
- No requirements for the submission of annual tax and financial reporting, for firms whose founder is not a U.S. citizen;
- Secrecy of personal data of beneficial owners. They can be made public only by the decision of law enforcement agencies;
- Ability to receive a green card;
- The entry of the company into the U.S. market;
- Lack of opportunity to establish an offshore company and conduct a "grey" business;
- High level of taxes;
- The difficult registration process for new firms.
In 2020, Delaware is the most popular state for business registration. Its high demand among entrepreneurs is caused by the fact that the laws allow to legally carry out processes akin to offshore activities on its territory. Profits earned outside of Delaware are tax-exempt, and the company registration procedure takes no more than 2 weeks.
7 main steps to establish a Limited Liability Corporation (LLC) in America
- Find a suitable legal address for it (it may differ from the physical one) and name;
- Fill out an LLC application and submit it to the state secretary;
- Pay the registration fee;
- If the secretary agrees to receive the registration and corporate certificate;
- Hold a shareholder meeting and select the people who manage the company;
- Contribute share capital.
Register the company with the tax office and obtain a single taxpayer number (EIN).
Opening a corporate account with a U.S. bank for a company registered in the country is easier than for a foreign company. Even the top banks are ready to conduct this procedure remotely, provided that all their requirements are met.
What documents should LLC provide to open a bank account IN THE USA 2020?
- Proof of identity and address of its founder, together with copies certified by an agent or notary;
- A package of registration documents with supporting government marks;
- Filled out questionnaires and bank application forms in English;
- An extract from the tax office, containing a single taxpayer number;
- Contact details of the founder and director.
IT-OFFSHORE lawyers have all the necessary competence to take on the hassle of registering a company in America and make the process absolutely accessible and "transparent" even for a beginner.