Whenever we speak with international prospects, one of the most common questions we are asked is – “can a non-resident of the USA really start and own a business in that country?”
The answer is yes, and the fact is that the primary market that BizLauncher serves currently is the global “Tech-trepreneur market”. This market represents emerging technology and e-commerce entrepreneurs who need to access the US banking system in order to access world-class payment systems that are not available in the home countries. We have built our startup product – Bizlauncher Global which is a comprehensive solution that gives our international clients an all in one solution that includes business registration, a US business bank account, and critical business support to help them be in compliance with US statutory requirements.
Do I need a Visa to start a Business in the US? Does starting a business guarantee me a Visa?
This is also one of the common follow up questions that we get from our clients. The fact is the answer to both is no. You do not need a visa to establish a business in the US. In addition, owning a business in the US also does not guarantee you the right to visit or live in the states. Visa approval is the sole prerogative of the U.S. Citizenship and Immigration Services (USCIS) – the federal agency that oversees lawful immigration to the United States. It is important to note that foreign citizens cannot work in the US without green cards or permits, even for their own companies.
Are there any Restrictions on the Type of Business I can Start?
There are indeed restrictions on the business structures that non-citizens have permission to open in the US. The permitted business structures are:
- C Corporations
- Limited Liability Companies
S Corporations are not permissible business structures for Non-US citizens.
In terms of the business purposes that are restricted, the BizLauncher Global product is only for businesses with legal purposes. Our banking partners who open business banking accounts for our clients also restrict some types of businesses based on the level of risk that they pose to their operations. Some of the restricted business types are those involved in online gambling, adult content, or if they are involved in predatory or “get-rich-quick” schemes.
Can Citizens of Any Country Start a Business in the USA
Due to US Treasury Department sanctions, BizLauncher Global is also unavailable to businesses with operations in certain countries. The number and names of countries on this restricted list changes from time to time based on various geopolitical and US policy initiaves.
Currently, this restricted list includes Cuba, Iran, Iraq, North Korea and Sudan.
What state should I register my business in as a Foreigner?
Normally, the best state to register in is the one in which you will be conducting business. However, if you’re an online company or do business across a range of regions, you may want to consider registering in a state with lower tax burdens. Three states that are attractive for entrepreneurs are Nevada, Delaware and Florida. Delaware is particularly popular, thanks to corporate law that provides significant protections to shareholders and directors.
So there we have it – non US citizens can indeed start and own businesses in the US. In addition, they can also get bank accounts opened for their businesses in the US if they ensure they use the right startup solution to handle their affairs on the ground. We have spent the last four years building the ideal startup solution for this segment of the market, and welcome international clients who need a reliable partner on the ground to handle their startup and ongoing compliance needs.