If you want to know the Requirements to Create a Company, continue reading this article, where they are detailed in a simple way. Establishing a company is a process that takes time and effort, but in the medium and long term you can see the benefits of the work done.
You will also find the steps to follow to create a company, How to register a company? Where to register the company? As well as the costs of its creation, some recommendations and benefits of creating a company. All these aspects are important, since everything must be done correctly from the beginning.
Requirements to Create a Company: step by step
US citizenship is not required or residency to create a business in the United States. It is sufficient to be present in the country, in the city where the company begins by an accredited representative who receives the correspondence sent to him on the company’s name.
To open a bank account and work in the United States, an Employer Identification Number (EIN) is required, which can take from three days to three weeks to process. The copy of the passport, the National Identity Document, and bank references of the country of origin are also necessary.
The steps to follow to create a company are part of the Requirements to Create a Company. These are the following:
- Come up with a business project, and see if it is feasible and beneficial for the business to be successful.
- Choose the town where you want to have the business, taking into account the procedures, taxes and have the support of a local representative who contributes with the procedures. To continue, you must request registration and hire a representative who is registered and has a valid address in the locality.
- Determine if you want a private company, a partnership, a corporation, a limited liability company, taking into consideration the distinctions of each one.
- Then the articles of integration or organization must be registered with the State, mentioning the representative registered in the State to receive the correspondence of a legal nature from the company.
- Manage and acquire the tax identification number For the company, a good option is to have the support of a legal advisor.
- Register the company with both state and local tax areas, and making sure that all taxes are paid. Likewise, a tax expert can be asked to harass to take care of this.
- Manage all authorizations and patents required so that the business can operate.
Requirements to Create a Company: How is the registration?
Needed comply with 2 steps to register a company, which are: Register the corporation in the State (locality within the United States), where the company will operate. Then, carry out the management of the Tax Identification Number (EIN). This is one of the Requirements to Create a Company.
Registration with Federal Agencies
Generally, companies do not need to register with the federal government to be legal entities, they only need ask for federal tax identification. There are small companies that register with the federal government in order to obtain trademark protection or have a tax exemption.
When you need a trademark or product name, it can be ordered at the US Patent and Trademark Office, when the company is established. In the case of wanting a tax exemption, such as a non-profit corporation, the company must be registered as a tax-exempt entity with the IRS.
Register with State Agencies
If your business is a partnership, nonprofit corporation, or LLC corporation, you may need to register in a state where you do business. Typically, business operations are said to take place when:
- The company is physically present in the state.
- He regularly meets in person with some clients in that state.
- A significant part of the company’s money comes from that State.
- When any of your employees work in that state.
Registration in front of the Local Agencies
Generally, you do not need to register your business with the county or local government to start your business. But if the business is a corporation, partnership, non-profit corporation, or LLC, you may need to request the corresponding authorizations city or county.
Some cities and counties require the name under which you do business (DBA), a fictitious or trade name, if you use it, to be registered. Local authorities specify the requirements for registration, authorizations and permits.
Where is the registration made?
To register a company the first thing is investigate if it is necessary to do this procedure. The location and organization of the company establish the form of its registration. Therefore, defining these aspects helps to make the registration of it easier.
Typically for small businesses, it is very easy to register your business with state and local governments. There are some cases, where it is not required to carry out this procedure, if business is carried out as a natural person and your name is legally established, it does not need to be registered.
However, it should be borne in mind that by not registering the company, miss the protection of personal responsibility and the fiscal and legal benefits offered by the corresponding authorities in these cases.
In conclusion, a company in the United States must register with one of the following sites mentioned below:
- A business agency.
- The Secretary of State.
- Business office.
Requirements to Create a Business: Costs
The costs of creating a company in the United States will depend on some aspects which are detailed below:
- By having a capital of at least $ 50,000 And starting from scratch, acquiring an already created company, the E-2 visa, which is that of investors, is an option. This provides the opportunity to mobilize workers with their families from a company to a secondary one in the US to work and reside temporarily.
- The E-1 visa is only for people who come from nations with which there is currently an international trade agreement, and who want to go to the United States. This with the aim of manage or transact international business (exportation and importation).
- In the event that the person is a manager, an officer or has specific knowledge of a foreign company, and worked there for at least one year, in the last 3 months they can request the L-1 visa. This visa is available to executives and company managers abroad, who are going to work in branches or subsidiaries in the United States. The validity of said visa is between 1 to 3 years.
- There is also the investment program option EB 5, which has 3 fundamental aspects, capital investment, generally requires that interested parties make an investment between $ 500,000 and $ 1,000,000 dollars. This EB 5 investor program not only offers the opportunity to obtain a visa, but also to obtain permanent residence.
Requirements to Create a Company: Benefits
Creating your own company generates some benefits, among which are those that are detailed below:
State Tax Incentives
When formalizing a company in the United States, it is essential to evaluate and study the rules in detail and grants promoted by states and counties. Once the company is incorporated in one state or another, it is considered American.
Take advantage of multiculturalism
The multiculturalism that the United States offers it is attractive to start a company, since there is positive collaboration and great possibilities to make international business.
The different cultures have helped that in this country there is no established topic, and where to market any item, it has a lot of opportunity to sell quickly.
Use Consumption
Consumers in the United States have a high purchasing power, therefore, it is open to obtain items of foreign origin. Taking into account that it is a very large population, it can be said that consumers have different tastes and interests. The US accounts for 42% of the global consumer market.
Create Alliances Between Businesses
The US is positioned as the first country to invest globally in matters of inward FDI flows. Therefore, when establishing it is essential establish strategic alliances with local companies or synergies with companies in the United States. This with the aim of reducing the learning curve, in such a way that entering that market is successful.
Economic context
Economically, the United States has a Gross Domestic Product for more than 16 billion dollars, which has been an advantage with respect to job creation.
Likewise, it contributes to improving the reliability of consumers, the reduction of family debts and an increase in the growth of business investments.
Find Qualified Labor
The US has a highly skilled workforce, which is known for being adaptable, forward-thinking, and helpful. This is a country that welcomes different cultures and thoughts, which protects Intellectual Property rights. It has a clean legal system and receives 1 million requests for trademarks and permits each year.
The Country of Possibilities
This country is considered to have great potential in the creation of new projects, where many progress has been made. cutting-edge and advantageous start-ups Worldwide. For this reason, it is known as the country of opportunities.
Establish a Modern Business
Technology and new ideas are key within a company, in addition to the relationships between employers and their employees, which must be based on trust to do business. In this country where communications and work increase every year, transferable skills are transformed into achievements.
Create an International Business Concept
Insertion in the United States produces an international placement through the development of a general brand, with implications and a business image of good reputation, avant-garde, technology, qualities, potential. These are specific characteristics of companies incorporated in the United States.
Tips for Starting a Business
Creating a company requires intellectual, physical and financial effort. Here are some tips for starting a business:
- Create a business plan, the Government provides some means that are very helpful. Take an interactive course to boost your own business is a good option.
- Enroll in free trainings or seek the support of qualified consultants to prevent errors that could delay the procedure.
- Form a company with your own means, and being the sole owner of the company all obligations and profits correspond to you. This form of organization is the simplest and most frequent way to start a business.
- Work from homeIn the US, more than 50% of companies are headquartered at the owner’s residence. Through the SBA (Federal Agency for the Development of Small Business) meaning in Spanish, information on this matter is found, and additionally support is obtained to develop a marketing and business project.
- Protect yourself from scams and fraudulent situations. If proposals to work from home are received, the first thing to do is follow the FTC’s suggestions (Federal Trade Commission). Ask questions of interest such as: The salary to be received, company goals, functions to be performed. This in order to define if the work they propose is legal.
To undertake it is necessary to comply with the Requirements to Create a Company, which are essential and give your business a formal character, obtain better benefits, among other things.
Gather the Requirements to Create a Company It is very simple. If you have any questions, you can also choose to seek advice from some experts in the field, and in this way you can successfully carry out this procedure.