The United States has been maintaining its attractiveness for many years as a business location and it has a reputation of the state which reliability and development of the business sphere is approaching 100%. High concentration of investment and trade interests, wide opportunities provided by the country make non-residents think about opening a company in its territory. In addition to business prospects, it “bribes” with its convenience:
- There are no copies in the USA with the first or second “blue” seal, all document circulation is kept electronically;
- the moment of registration is immediately after the information about the company is entered into the base of the selected state;
- creation of the company is available for non-residents of the state;
- a wide variety of conditions for the registration, tax rules that differ from the state to the state, allow you to choose the best jurisdiction for the business.
California – features of prospective jurisdiction
California belongs to the states with the most “rich” business life, wide opportunities and convenience for work. There is a rule under which the right for business can be obtained without a statement of information – it can be provided to the administration after the registration process is completed. Despite the fact that the zone is not considered a traditional offshore, the US has a loyal taxation to the entrepreneurs. However, everyone who wants to do business on the West Coast must remember:
- The state does not issue visa independently – all procedures must be performed in a standard manner at the national level;
- Before starting work, you need to open an account in California, so as not to spoil relations with the immigration, taxation and state administration (which leads to extremely unpleasant consequences);
- companies that work in the US are taxed not only at the state level but they also have to pay federal fees;
- it is necessary to obtain the EIN to start work –the code number given to the employer for the tax accounting of the employees.
Features of business registration and account opening in California
The owners of visas of various types can open a company, both traditional and offshore in the US – B-1 (non immigrant, business), EB-5 (investors with the prospects for obtaining residence permission), and so on. It is necessary to select the appropriate type of enterprise to do this. An entrepreneur does not need to register a large number of the documents, but it is necessary to structure the taxation depending on the forms of management. All registration procedures are carried out by the General Secretary – a common structure for the whole state.
There are various partnerships for this moment in California:
- Complete – a flexible structure in which minimum two founders are provided (they equally bear all responsibility). The activity is aimed at generating revenues, the structure is not subject to a single tax, the partners draw up separate declarations. The Authorization Agreement is drawn up for the registration (GP-1).
- Having limited liability (LLP), the partners must have a Californian license for an accountant / lawyer / architect. Such a company does not belong to individual taxable entities – accounting is maintained by its founders. The registration involves filling in a special form and paying a fee.
- Limited partnership with limited liability (LP) is formed by the persons in the number of at least two, one of the creators should be the main partner with an unlimited degree of responsibility. The level of risk varies between the members, as well as the authority. You need to fill in a special application and pay a fee for the registration.
There are also companies in California with a limited degree of responsibility and corporations. The first ones refer to the mixed units this is a legal entity that provides the possibility of civil insurance. You can independently choose a type by taxation – a partnership or a corporation that pays a classic contribution from the net profit. In addition to the application, you will need a certificate of validity for the registration. The corporation is the most traditional, separate legal entity, owned by shareholders who are not subject to the personal liability. It is taxed (with dividends and profits). When creating, the foreign structures provide a provision on the creation and title, as well as a certificate of legitimacy.
Regardless of the form, the companies need to open an account in California. Both structure and a subsidiary of an organization from other states may be registered there by a serving bank. The documentation package is practically the same – the enterprise will need:
- to register and provide confirmation from the Secretary-General;
- to assure the copies of the documents;
If the type and the characteristics of the company provide the existence of a code number of the employer or a fictitious name, then acknowledgment of their receipt is provided.
The specialists of the company “Prifinance” have a great practical experience and they will help you to choose the optimal state for a particular company, to prepare the necessary documentation and to open an account in a convenient bank.