Are you interested in starting a new business in the USA as a foreigner? Or do you want to expand your business to the USA as a non-resident? Here are the top 5 things that you should know before you start your business in the United States of America.
Do I need a USA Visa?
A lot of people want to know about the USA visa requirement for starting a business in the USA. If you have a US visa online, it is good for you. You can go to the USA to establish your business and to complete all the legal documentation.
You will get a lot of benefits when you start your business in the USA as a landed resident or at least visit the USA once. But officially it is not necessary to have a US visa to start your business there.
Do I Need a Bank Account to Start Business in US?
If you want to operate your business in the United States as a US resident, then you must have a bank account in any bank in the United States. It will help you to receive and send payments to your client. With that, it will also help you in getting various benefits and tax reductions.
If you want to operate your business from outside of the United States, i.e doing business in the US as a non-resident of the US, even then you need to have your bank account. You can open your bank account in the USA when you visit the US to complete your legal process to register your new business.
Which US State is Best For Business?
Well, all the states of the US have different business laws and taxation systems. Also, they have different restrictions on different businesses as per their own state law. You need to know the business laws of the relevant state.
You should also check which state would allow you to do the business of your specific product. Also, you have to look if that state allows you to have a bank account in a different state? Or they want you to have your bank account in the same state where you are doing your business.
Here you can check a list of some states which are best for doing business in the US as a non-resident.
- Massachusetts.
- Utah.
- Colorado.
- Washington.
- North Dakota.
- North Carolina.
- Idaho.
- Virginia.
You can fill out your USA visa application and can visit any of these states to register your business and to open a bank account in that particular US state.
By the way, you can also consider doing business in the United Kingdom. In an article published in The News Times, it is said that the UK is reducing the interest rates on business loans from the banks.
So this would be the best time to expand your business in the UK and enjoy the low taxation system.