The business name you choose is crucial, as it not only establishes your brand identity but also helps you stand out in the business world. It’s essential that your corporation’s name is unique to prevent potential legal hurdles and avoid confusion among customers. Expect either payment processor to hold your payments for a longer period of time in the beginning. They want to protect themselves in the event of chargebacks, so try to have a few months’ operating expenses in your bank account at the time of opening (and expect them to ask for a screenshot). You pay your fee, give your agent 2-3 different company names, provide some personal information (which they keep confidential) and details of your business.
I’m here to share what I’ve learned to help you register your business the right way. There are loads of perks that come with becoming your own boss, but there are also plenty of responsibilities. One of the most important tasks you’ll need to take care of is registering your business. The Board of Directors govern the corporation, set priorities and appoint the officers.
Step 8: Register to do business in other states (optional)
As you’ll see though, a lot of this time is spent waiting around for other parties. You shouldn’t need to spend more than a day worth of your time in total on this process. By trading through a US company, they gain access to Stripe, considered by many to be the gold standard of payment processing. Another contact is building a SaaS product with her development team in Nepal.
Though the exact percentage is hard to pinpoint, there are plenty of foreign owned LLCs doing business in both America and abroad. As an Australian who has lived in multiple countries and done business with companies all around the globe, I’ve learned a lot about making business unnecessarily difficult.
Get started with doola and launch your US
Launching a corporation is more complicated than launching an LLC, as you will need to register as a C-corp first, and then adhere to more specific guidelines to be eligible to switch to an S-corporation. This particular business structure provides limited liability protection but allows any corporation with 100 shareholders or less to be taxed as a partnership.
Do I Need a Green Card or Work Visa to Start a Company in the USA?
While each LLC is required to have a registered agent, it is possible to act as your own agent or appoint an LLC member to the role. Otherwise, you may hire an individual or company to act as your agent. Read more about USA company registration here. If filed online, it may be possible to get your LLC formed in two to four business days. Otherwise, LLC papers submitted by mail often take two to several weeks to process.
Read more about Open a company in the US here. Directors can also go on to elect officers who can run the company on a day-to-day basis. To form a corporation in the U.S., it is necessary to file articles of incorporation with the state in which it will be registered. A distinguishing characteristic of a corporation is limited liability.
