What is your story? Where are you in life? What are your plans for the USA? Is the USA a dream destination for you, a place of escape or simply an interesting market for your company?
Without a doubt you are dealing with the topic of USA expansion and it is important for you.
Whether the USA is a childhood dream, a secure second leg to stand on, or simply a great opportunity for success for you, you will find a lot of useful information on this site that will hopefully help you on your way.
This site is entirely tailored to entrepreneurs like you who want to start a business in the USA.
The range of services offered in the USA covers, among others, the following services:
Incorporation of corporations and partnerships;
Ongoing tax support and accounting;
Ongoing payroll services;
Ongoing sales tax support (local sales tax);
Preparation of tax returns of legal entities and individuals;
Account openings with major U.S. banks;
The USA is a highly interesting business location for company founders, especially for digital business fields. Here, the United States not only offers the advantage of proximity to advantageous business contacts and potential investors, but also represents an ideal market for the corresponding products. What's more, the U.S. bureaucracy keeps the door wide open for foreigners to set up businesses. However, anyone wishing to set up a company in the USA must be aware of a few special features.
Setting up a business in the USA: Some facts
The American economy is often associated with the myth of being unbureaucratic. In fact, however, the restrictions that come before starting a business in the U.S. are considerable in some aspects. Even the famous American entrepreneurial spirit itself is by no means as strong as its reputation.
A January 2015 study found that only 42 percent of U.S. adults feel confident about starting a business.
The two pairs of numbers may symbolize two statements relevant to the topic: First, it is fundamentally not easy to become a successful entrepreneur; and second, the framework conditions for entrepreneurs in the U.S. are comparatively favorable. To mention just a few aspects:
The actual formation formalities are quick and straightforward in most U.S. states.
In many states, incorporation is possible online.
Notarization of the founding act is not necessary.
Minimum start-up capital does not have to be provided.
Overall, formation costs are low compared to Germany.
In some states (e.g. Delaware and Florida), corporate taxes are extremely favorable.
Corporate legal forms in the USA
The decision regarding the legal form of the company to be founded depends on various factors which are of decisive importance:
the amount of capital to be invested
the liability obligation
the role of any co-shareholders
the impact on the level of taxation for the founder.
However, the federal structure of the U.S. allows its states to shape the corporate forms in their own way. Therefore, the corporate law of the individual states differs, sometimes considerably, as far as the details are concerned. The following is a short list of possible corporate forms:
1. sole proprietorship
Sole Proprietorship is similar to the German Gesellschaft des bürgerlichen Rechts (GbR) and is the most common form of business in the USA. Here, one is also liable with one's personal assets. As a rule, a local name registration or individual registration (license) is sufficient for incorporation, plus of course an industry-related license if necessary (real estate license, hotel license, etc.).
2. limited partnership (LP)
The Limited Partnership is comparable to the German Kommandit Gesellschaft (KG). The limited partner pays the capital he subscribes into the company and is not personally liable, whereas the general partner is liable without limitation with his assets.
3 General Partnership (GP)
Unlimited liability also applies in the case of a general partnership, which is similar to the German oHk and GbR. The partners involved are personally liable.
4. limited liability company (LLC, LC)
The limited liability company is, in a sense, a hybrid of the corporation and partnership, but with limited liability. Unlike the German GmbH, which it otherwise resembles, it is not a corporation. The partners can be taxed as a corporation or as a partnership, which means that they may or may not be subject to corporate income tax. Some states allow the formation of single-member LLCs.
5 Limited Liability Partnership (LLP)
The Limited Liability Partnership is like the Limited Partnership (LP) a partnership and is similar to the German Kommanditgesellschaft without a general partner. The partners are liable with their assets. The LLP is often chosen as a form by freelancers such as lawyers and tax consultants, and in some states is reserved solely for such professions.
6 Limited Liability Limited Partnership (LLLP)
The Limited Liability Limited Partnership is a special form of the Limited Partnership (LP), in which even the general partner has only limited liability. In contrast to the LLP, all partners can directly exercise the management here. The tax treatment is similar to that of the LLP.
7 Corporation (Corp., Inc.)
The corporation stands in a certain way between the German forms Aktiengesellschaft and GmbH. However, here, too, the founders are not obliged to raise their own capital. The shareholders are not personally liable. Most large American companies are corporations. The special features of the corporation include its centralized management structure, its unlimited duration and the uncomplicated transferability of shares.
Surprisingly, at 44 percent, it was the German participants in the study who came out as more entrepreneurial in this sense. However, 66 percent of the Germans surveyed considered starting a business to be difficult, while only 57 percent of the Americans surveyed shared this assessment.
My team and I will assist you in making your America story a success.
I myself lived in the USA for six years, am still there on an ongoing basis and have assisted many clients on their way to the USA.
But although we have compiled a lot of facts for you here, because the topic is so extensive and exciting, it is still important to know that information is no substitute for advice.
If you are seriously considering the topic of the USA, I suggest a personal consultation in London or in the USA, where we can discuss your plans in depth.