The United States economy grew by 5.7% in 2021, the highest rate since 1984. This has cemented the nation’s position as the largest economy on the globe and the perfect jurisdiction for opening an offshore company.
Indeed, most of today’s leading companies, such as Apple and Berkshire Hathaway, are US-based. Therefore, opening your company in this “land of opportunities” can help to set it on a path to becoming a revered multinational with an enviable balance sheet.
Keep reading to learn more about the United States as an investment destination. We will also highlight the main steps for opening a company in the United States.
Things that Make the United the Best Offshore Jurisdiction
- A large population that you can use to drive sales, high profits, and business growth.
- Ample supply of highly educated and experienced workforce.
- Strong laws and policies for property rights protection.
- Supportive federal and state administrations (see our article about Adrian Cheng).
- The US has signed numerous bilateral trade arrangements to help home-based companies access the international market.
- Service industries contribute 80% of the United States GDP. Industry follows from afar, contributing 19%, while agriculture accounts for only 1%.
- The population of the United States is estimated at 332.59 million.
Eight Steps for Offshore Company Formation in the United
Any person is allowed to form an offshore limited liability company in the United States. Your offshore company in the US can also be a subsidiary of a parent firm back home. So, here are the main steps involved.
- Select the preferred state for your company: It will be an excellent idea to pick the state without state taxes so that your company will only pay federal taxes. Good examples of states to consider are Nevada, Delaware, and Wyoming.
- Select the name and structure of the company: Every state in the US has its own guidelines for naming companies. However, the main requirements are that a business name should include the term “limited liability company” and should not be confused with a government agency.
- Get a registered agent: This is very important, especially for non-resident-owned enterprises. One of the most revered agencies is ICD Fiduciaries because it works with experts that can receive your legal documents and follow with the entire process of company registration in the US.
- Prepare and file the documents for company incorporation: These documents include the details of the company directors & shareholders, and articles of association. Furthermore, you need to create an operating agreement that highlights the procedures of running the company.
- Get an Employer Identification Number (EIN) and business address: EIN is a tax ID for your company. The physical address is the actual location of the company offices, and it is very important, especially when opening a bank account.
- Open a bank account: Before commencing operations, you need to open a bank account to be able to make payments and get paid. Note that the US follows strict anti-money laundering policies, including know-your-customer protocols.
- Acquire additional licenses, where necessary: If your company is in areas such as finance, health and telecoms, it will require more permits before being allowed to commence operations.
Registering an offshore company in the US is a dream that many investors would want to see coming true, but the complexities involved often stand in their way.
However, ICD Fiduciaries can help you to register the company fast and run it professionally. In addition, you can count on the agency for company accounting, strategy formulation, and other executive functions for profitable operations.
Talk to ICD Fiduciaries’ experts now for all the help that you want to open an offshore company in the United States.
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