Remote company in the US: how to open an LLC
As the world goes global, we all need to start making things more internationally, less local. It is important to point out how this can help us make things possible, by working with a remote company in the US you can get all advantages of the free market without being there. Digital, virtual, and remote are nouns that create a new atmosphere for businesses to prosper.
If you are working alone or creating a small business with hopes and intention to increase your market, LLC is the best for you. Keep in mind that you will not be creating a giant corporation. Your responsibilities and capacities are instead designed for individuals than for several partners. LLC is limited.
What is an LLC: a remote company in the US
A Remote company in the US is straightforward to set up, even from abroad, and in theory, you don’t also need a visa. If you are choosing this type of company, your best option is to register an LLC. Its name stands for (Limited Liability Company) which is actually its meaning. This is a brilliant choice for Digital nomads, entrepreneurs opening their market, and it creates real advantages regarding your business structure and tax policies.
This type of company works perfectly for individual actions, and it allows you to safeguard your physical persona from financial, taxes and potential lawsuits.
Which are the LLC benefits?
If you are doing all your operation from abroad, you need to choose something operative from wherever you are. Also, as it is a remote company in the US, you have a register in that country, but you can have a foreign address. It is not mandatory to hold a physical office there. And, a great feature is that you won’t be tied to a hard structure with a board, or bureaucratic and complicated structure.
You don’t need to pay taxes for the LLC; you will only pay your own. That means there’s no double taxation. This may suffer minor changes depending on the state where you register your LLC. But to summarize, only you and partners will need to declare annual taxes.
If necessary, you can transfer your LLC. This means that depending on state laws, you can pass your company to another person.
This type can exist indefinitely. If one of the owners, in fact, were to die, the business can be transferred with no problem to its heirs.
Let’s imagine that your business grows, and now you require to have a Corporation, CORP. LLC can do that, and even you can transfer from state.
How to open an LLC
Choose your state:
Depending on your business and actual residence country, you will need to choose the best option for you. To have your LLC register in a state will not make bound your mailing address to it, but it will bound you to the state’s laws. Some states will grant you more anonymity than others which can be a con or a pro. Also, some states will limit your business name and increase taxes and annual payments.
Choose your name
It may sound obvious, but you have to start somewhere. You will have to make this search on each state’s webpage. Keep in mind that not only there are rules, but some countries can allow you to have a double name. If that were to be the case, there could be another business with your same name! The name you decide will be married for life with you, make it rememberable, natural and as universal as possible.
Oh, your name will have to include LLC. Some states will regulate this action, but in any case, keeping it will prevent you difficulties in the future.
Decide how your LLC will be managed
You can have one owner or up to 4. The LLC could be managed by members or designates which opens the floor for appointed outsiders. The two options have pros and cons, and in any case, it will depend on your necessities.
File the articles of your organization
This is the registration. Prepared all your documentation, name and forms and present them to the state. If you do not have a mailing address in the US, you can rent one and choose any state of your preference. Depending on the state, you will have to pay a fee for registration and acquire a register agent.
Acquire an operative license
If your business actively operates in the state, you will need to get a license. They depend on your state and your branch of business. Remember, an LLC can work abroad.
Apply for an EIN
This is the most crucial step, besides opening your LLC. A remote company in the US allows you to hold a taxation figure within the US without being a resident. That is the EIN (Employer Identification Number) an assigned number for the IRS that works similar to a Social Security Number. This number will allow you to hire people, to open accounts, and of course, to pay taxes.
Open your bank account or fintech solution
Whether you are an individual that offers services or a producer entering the market, you will need a bank account or fintech solution to receive payments. Between highly recommended are N26, Revolut, Paypal, Payooner, and others. Probably you will make payments and trade with employees; in any case, you have plenty of options once you are an LLC.