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  1. #1
    Join Date
    Jan 2003
    Posts
    87

    Registering business in US?

    Hi,

    Anybody can give an insight on how to register a business in US? Outside US people can do this? My friend saying outsiders without greencard can't register outside US businesses in US. I am saying they can do it.

    Which one is correct? How to register if yes?

    (is this correct forum to ask this?)

  2. #2
    Join Date
    Aug 2002
    Location
    US
    Posts
    416
    Non Us persons can form US companies or LLCs.
    Offshore incorporation and bank accounts
    @offshoreoffer - offshore services, tax optimization info

  3. #3
    Join Date
    Jan 2003
    Posts
    87
    Can you please elaborate a little?

  4. #4

  5. #5
    Join Date
    Jun 2005
    Location
    Europe
    Posts
    121
    radhika,

    Depends what your aiming at. You can get yourself a Delaware company. I saw them for 400$ on the internet.

  6. #6
    Join Date
    Jan 2003
    Posts
    87
    Originally posted by FashionPoint
    radhika,

    Depends what your aiming at. You can get yourself a Delaware company. I saw them for 400$ on the internet.

    http://www.thedelawarecompany.com/
    This site. right?

    I am gonna get info on that. Thank you

    I think you've to obtain first the E Treaty Trader's, E visas, there after you might be able to register with LLC, however I am not quite sure, you should visit the workpermit sites of US.
    Thank for the info. I will search on these words too. thanks

  7. #7
    Join Date
    Jun 2005
    Location
    Europe
    Posts
    121
    radhika,

    You've got it! You might as well take a look at http://www.offshore-manual.com/ -> TAX HAVENS -> Delaware. Some info is out of date, but you'll get the idea. Actually there are a lot of sites like this on the net, which explain pluses and minuses of any particular jurisdiction / company type.

  8. #8
    Join Date
    Aug 2003
    Location
    Norway
    Posts
    45
    Shure you can.
    In Delaware you can have a registered business, and if you do not have office or staff there you dont pay taxes to delaware.

    Hovever, you are obligated to have an agent with opening hours weekdays/business hours, to take care of communication for you.

    More info:
    www.delawareintercorp.com

    oh, you probably also need to register as a foreign corporation in your local jurisdiction.

  9. #9
    Join Date
    Jun 2003
    Location
    United States of America
    Posts
    1,838
    its called an international corperation
    Computer Steroids - Full service website development solutions since 2001.
    (612)234-2768 - Locally owned and operated in the Minneapolis, Minnesota area.

  10. #10
    Join Date
    Jan 2003
    Posts
    87
    www.delawareintercorp.com
    http://www.thedelawarecompany.com/

    Both same? Because costs are different.

  11. #11
    Join Date
    Aug 2003
    Location
    Norway
    Posts
    45
    Originally posted by radhika
    www.delawareintercorp.com
    http://www.thedelawarecompany.com/

    Both same? Because costs are different.
    No, I think its 2 different agents.

  12. #12
    I would recommend Valis for incorporation, cheap and they do a good job, and of course anyone can register a company , if you are above 18 years, can provide minor paperwork (natinal id card and utility bill) you can open a company, either Corporation or LLC

  13. #13
    Well i would recommend you to buy an already registered company ! They cost something like 3.5k+ but also have a Bank Account + Merchant Account.

  14. #14
    Join Date
    Jan 2003
    Posts
    87
    It seems Valis are partners of thedelawarecompany?

    I received a response from thedelawarecompany, everything seems OK to me. I'd like to talk to them in person to clear few more detais, then I guess I'll go with thedelawarecompany.

    Thank you for all the info to all of you

  15. #15
    That I know off Valis has nothing todo with thedelawarecompany. To my knownledge they take care of the paperwork all by them selfs but I may be wrong

  16. #16
    VALIS has no business dealings with The Delaware Company, though we do know them and have dealt with them concerning bank accounts when VALIS Savings was alive and well. The Delaware Company is a good company with good people from my experience.

    You can see a fee/service matrix comparison at
    http://www2.valisinternational.com/?pg=inc
    if you're interested in seeing a few different Delaware incorporators services and fees.
    David Gendron, [email protected]
    VALIS International, http://www2.valisinternational.com
    US Business Presence Setup for the World

  17. #17
    Join Date
    Jun 2002
    Posts
    1,056
    What about merchant accounts?
    What if we incorporate a company through Valis, will we be able to apply for an authorize.net merchant account?
    Founder of TradeHolding.com B2B Network and OneLoveNet.com Singles & Dating
    >> Business Blog
    >> Business Links Directory

  18. #18
    What about merchant accounts? What if we incorporate a company through Valis, will we be able to apply for an authorize.net merchant account?
    Yes. You will.

    1) Incorporate
    2) Get an EIN
    3) Get a Mailling Address (Not PO Box)

    You will be able to apply for an authorize.net account & for a business bank account (in a number of banks, including the major new ones).

  19. #19
    Join Date
    Sep 2002
    Location
    Georgia
    Posts
    1,822
    And what are the chances to get approved for the merchant account using incorporated company?

    I think probability to get the merchant is low or maybe I am wrong?
    Imagination is more important than knowledge.

  20. #20
    Chances are very high.

    If you get incorporated, us mailing address & ein chances are very high you can get a merchant account.

  21. #21
    Join Date
    Sep 2002
    Location
    Georgia
    Posts
    1,822
    And is the company required to have some balance in the bank account?
    Imagination is more important than knowledge.

  22. #22
    And is the company required to have some balance in the bank account?
    No. It has nothing to do with it. You don't have to have any money on the bank, when Russ from merchantaccounts4less opens accounts for us (we work with merchantaccounts4less maily) for opening accounts and the bank accounts where we send the money are usually new accounts with balance<=$100

  23. #23
    Join Date
    Sep 2002
    Location
    Georgia
    Posts
    1,822
    Paulo Thanks
    Imagination is more important than knowledge.

  24. #24
    Any time

    I opened my company using Valis & Russ from Merchant Account 4 Less helped with our credit card processing (we use authorize.net + csi) and we forward all our customers to them.

    I can recommend both companies, one for opening the corporation and other for the credit card processing.

  25. #25
    Join Date
    Sep 2002
    Location
    Georgia
    Posts
    1,822
    Paulo,

    Yea that's interesting. I am checkint out both of them, to determine the total cost to get the merchant account including getting incorporated
    Imagination is more important than knowledge.

  26. #26
    Cheapest :

    LLC Incorporation = $375
    EIN = $100

    Mailing US Addres Not PO Box:

    http://www.mailforwarding.biz/rates.asp
    $15 (One-Time) + $8.33/month

    or

    http://www.myus.com
    $ 35 (One-Time) + $132 / year

    Valis also offers mailing forward service but it's a bit more expensive.

    Credit Card Processing for authorize.net:
    http://www.merchantaccounts4less.com...thorizenet.asp

    $230 setup
    Monthly Gateway: $15
    Per Transaction: $0.10

    With LLC + EIN + US Mailing Address you can open an account with HSBC, Wells Fargo & Bank of America (All of them for free without anyone's involvment. I've done it several times). Valis is opening accounts at e-trade for a fee (I have David's emails in my inbox but haven't looked at their prices yet).

    These are to get you started, besides this you can count on these fees:

    1) Mailing Fwd fees to your home from your post office
    2) Registered Agent - Paid Yearly = $100/year
    3) Delaware State Fees = $246/year

    Besides this if you want, you can add support service from India for a low fee or you can get a voip phone + fax for us tool free numbers.

  27. #27
    Join Date
    Jul 2004
    Posts
    329
    just a question!

    I can use an EIN as an SSN?

    To get US credit card and all that

  28. #28
    joephill,

    An EIN is the corporate equivalent of a SSN. But claiming that your company's EIN is your ITIN or your SSN would be illegal.

    Another factor to consider: Virtually all, if not absolutely all, credit cards issued in the USA require you to be a US resident.

    Finally: EINs have a distinct formulaic value that differs from SSNs, so anyone that actually checks these things (probably most banks, if not all) would know that it wasn't your SSN just by glancing at it.
    David Gendron, [email protected]
    VALIS International, http://www2.valisinternational.com
    US Business Presence Setup for the World

  29. #29
    As David said EIN are for companies where

    SSN = Individuals (US citizens)

    ITIN is pretty much the same as SSN but for foreing citizens.

    Nevertheless, from my experience, sometimes ITIN doesn't work where we need to input SSN, usually works but I've seen it working. I called the IRS and they specifically say that ITIN is the equivalent to IRS and it must work on every option where SSN is requested but that's not true. For example ITIN doesn't work in PayPal's Payments Pro where they ask for SSN

    Now regarding the credit card thing, David has a point it's dificult but it can be done, you can get a credit card, the way to do it is simple. Both Wells Fargo & HSBC recomend this:

    After opening the bank account (either Wells Fargo, HSBC or Bank of America) each bank has an option for building a credit card report or something like that. You will need to enroll in that program (with your bank) and they will start reporing your credit to several institutions that do credit card reporting. They will send a statement each month to the credit card reporting companies with the statements of your bank, money used, etc... and if you had any problems with payments, etc...

    After a couple of YEARS, HSBC tells me usually 2 once your credit card report turns out ok, you will be able to apply for a credit card (REAL credit card) and based on those reports they will give you an top balance, ex: $1,000 of credit.

  30. #30
    Join Date
    Aug 2004
    Posts
    44
    Paulo, perhaps you ignore the difficulty that openning a US bank account for a US business that owned by non-US person...

    That would be prefect if there's a bank that does not require me to go to the US to open an account for my LLC, I really hope there's a real solution, what I mean is that I will get a checking & saving account(optional, anyway), with debit card that support US address verification, online wire transfer ... for these, even large initial deposit required / higher monthly fee / agent openning service charge.. all are acceptable to me.

  31. #31
    Join Date
    Sep 2002
    Location
    Georgia
    Posts
    1,822
    Originally posted by Paulo
    Cheapest :

    LLC Incorporation = $375
    EIN = $100

    Mailing US Addres Not PO Box:

    http://www.mailforwarding.biz/rates.asp
    $15 (One-Time) + $8.33/month

    or

    http://www.myus.com
    $ 35 (One-Time) + $132 / year

    Valis also offers mailing forward service but it's a bit more expensive.

    Credit Card Processing for authorize.net:
    http://www.merchantaccounts4less.com...thorizenet.asp

    $230 setup
    Monthly Gateway: $15
    Per Transaction: $0.10

    With LLC + EIN + US Mailing Address you can open an account with HSBC, Wells Fargo & Bank of America (All of them for free without anyone's involvment. I've done it several times). Valis is opening accounts at e-trade for a fee (I have David's emails in my inbox but haven't looked at their prices yet).

    These are to get you started, besides this you can count on these fees:

    1) Mailing Fwd fees to your home from your post office
    2) Registered Agent - Paid Yearly = $100/year
    3) Delaware State Fees = $246/year

    Besides this if you want, you can add support service from India for a low fee or you can get a voip phone + fax for us tool free numbers.
    Paulo,

    Your information was really helpful. Thank you very much. Just one more thing. Is it necessary to pay the following fees?

    2) Registered Agent - Paid Yearly = $100/year
    3) Delaware State Fees = $246/year

    I presume the State fees would be obligatory but what about Registered Agent one?
    Imagination is more important than knowledge.

  32. #32
    Paulo, perhaps you ignore the difficulty that openning a US bank account for a US business that owned by non-US person
    I didn't found that at all. All the 3 banks I opened accounts, they where very friendly, explained everything and I opened them very quickly.

  33. #33
    Is it necessary to pay the following fees?

    2) Registered Agent - Paid Yearly = $100/year
    3) Delaware State Fees = $246/year

    I presume the State fees would be obligatory but what about Registered Agent one?
    I am not 100% sure about the Registered Agent I think that everyt time I pay but I haven't looked at it. I am betting it's necessary thought.

  34. #34
    Join Date
    Aug 2004
    Posts
    44
    Originally posted by Paulo
    I didn't found that at all. All the 3 banks I opened accounts, they where very friendly, explained everything and I opened them very quickly.

    I asked them millions times, they just repeated "You must come to one of our bank centers"(BOA), "for our records we ask the owner(s) of
    the business to provide individual Tax Identification Number(s) issued by the
    Social Security Administration, usually a Social Security Number, so we can
    verify that credit has been established in the United States" (WF)... But I did not contact HSBC regarding business account yet.

    I am not sure the is WF talking about the SSN or ITIN.. if ITIN, how to obtain it? I checked the IRS website that it says I must have a tax return documents or something like that accompany with ITIN request form...

    Paulo, I appreciate if you can share the experience in detail on openning account with these 3 banks...(without going to the US). Thanks.

  35. #35
    ITIN

    1) Download W7 form from IRS
    2) Fill the W7 form, make sure you filled it correctly
    3) Go to the US Embassy in your country and have then autenticate your National ID card and/or Passport - THIS IS A MUST. IRS WILL NOT ACCEPT ANYTHING ELSE.
    4) After about 3 months you will get the ITIN

    Here is mine: http://www.bug-mall.org/itin.jpg

    You will get a paper something like this.

    I've done this for a couple of local folks and I find that sometimes IRS sends some papers over to you with a reason why it was rejected, just fill the reuqests again and you are in. If we scan the ITIN it will look exactly like this and the VOID VOID VOID strings will show up.

    A side notice, even without ITIN you can get a bank account in Wells Fargo, HSBC & Bank of America, problem is they will not give you Internet Home Banking if you don't have ITIN. So make sure you have ITIN if you want Internet Home Banking.

    You don't have to file for taxes at all (At least I don't nor people in europe or people that live in countries where US has Tax Treaty. For example, I live in Portugal and Portugal has a Tax Treaty with US, thus I don't have to file anything in US but rather here in Portugal. If US doesn't have a Tax Treaty with your country YOU WILL HAVE to file for Tax income) but all EU countries, Australia, New Zeland, etc... have tax treaties so you don't have to file for tax return if you live in those countries.

    Again, ITIN is not a must but if you want Internet Home Banking you have to get it.

  36. #36
    I got several emails telling it is impossible to get bank accounts.

    Here is the prof:

    http://www.bug-mall.org/wells-fargo-void-check.jpg
    http://www.bug-mall.org/hsbc-voided-check.jpg

  37. #37
    I will post bank of america checks later on cause I don't have them here at the office.

  38. #38
    Join Date
    Aug 2004
    Posts
    44
    Paulo, Thanks your info on ITIN.

    Do they (banks) accept US Business Application as well? I noticed that weeks ago you have a post about HSBC Business app in WHT, can you please let me know the out come of the app. Thanks.

  39. #39
    Yes. I have a Business Account with HSBC for my LLC corporation.

    The application went fine. Besides my Personal HSBC bank account I also have a Real Business Account with HSBC.

  40. #40
    Join Date
    Mar 2005
    Posts
    56
    Congratz Paulo! It is realy awesome that could get those accouts open!
    If you have a spare minute, would you be so kind to explain step by step "for dummies" how you application went for example with HSBC ? I think there are many ppl that would apprecite very much if you could.
    I mean, did you done everything on the phone ? besides the paperwork and Embassy stuff. Or some kind of online application. If you dealt with HSBC only of the phone please post the number, because they got couple of numbers on the site and those i tryed didnt helped much, ppl either had no clue about dealing with international customers or not willing to help at all.
    Also did you first opened personal or business account at HSBC?
    What is the next step after a person interested in an US checking got following stuff done:
    - Incorporated an LLC
    - got an EIN
    - US mailing address
    - ITIN

    Thanks in advance!

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