Setting up a company in the USA I have created this article to explain in detail the known mistakes to those who want. When you do research, you can see that many sites recommend the state of Delaware, but unlike these sites, I tell you. Limited Liability Company in the state of Wyoming So I recommend you to set up an LLC company. In the article Setting up a company in the USA I will tell you about the advantages and disadvantages of these two states. I’m sure you’ll agree with me on this, after what I’ve told you. At the same time ” How to set up a company in the USA, get an ITIN and EIN number and open a bank account You will have detailed information about
Note: If you want to establish a company in the USA to open a Paypal account, first Paypal Account Opening Methods You can try other methods in the article titled.
Establishing a Company in America
You may need to open a company in the USA for many reasons such as Paypal, Stripe, Dropshipping or shopify. First of all, do not be intimidated by opening a company in a country located on the other side of the world. Rest assured, it is both cheaper and easier than opening a company in Turkey. You can perform all transactions online within 1 week. Of course, everything depends on your preference. In other words, if you want to do some operations yourself, this process may take a long time, but DelawareFile If you say you don’t have to deal with it through an agency like this, it will be short and costly.
You have two options to establish a company in the USA. One is Limited, ie LLC, as we know it, and the other is a Corporation.
Corporation Company: Recommended for large organizations doing prestigious business. It özgü many similarities with our joint stock company. It özgü advantages such as capital increase, stock opening, distribution of profit to partners or geçirme of assets and inheritance within the company. Tax is paid twice a year. The first is personal tax and the second is corporate income tax. It seems quite costly. So you don’t need to set up a Corp. If you earn over $1 million, maybe you should consider it.
Limited Liability Company (LLC): The country in which the owners of the company are, whether they are individuals or legal entities, the company structure without any restrictions on this issue. Taxation differs from state to state. However, in many states, you can easily biçim a company without owning an elephant business. Minimum knowledge required and easier to create. In short, the type of company you need to biçim is LLC.
We agreed on which type of company you should establish. You need to biçim an LLC for affordable costs and tax benefits. But the big question is in which state you should set it up. Now I want to make a comparison about it.
Comparing Delaware and Wyoming
It is mentioned that the majority of companies on the Forbes 500 list were founded in the state of Delaware. If I had more than $50 million in annual revenue, I’d start a business in Delaware, where cases are the fastest (its only advantage over wyoming). But why would I have to hisse a minimum of $300 a year for a low-income business? Is it worth paying this fee for Paypal, Stripe, Etsy or Shopify? Moreover, if I open the company in May or in July, I have to hisse this amount on June 1st. Also, the $300 flat fee is a bit high.
As I am a small business I am sure there will be no litigation. I’d rather hisse $52 in the state of Wyoming than hisse $300 a year for this benefit alone. Moreover, I hisse this fee on the 365th day or 1 day after the establishment date. I mean, after a year. These are the biggest advantages for me. Of course it didn’t end here. Some paperwork fees are required for Delaware. You don’t need to hisse the majority of these additional fees to a Wyoming LLC. Let me explain them to you in detail.
State Corporation tax: Paid in Delaware, not in Wyoming.
Company Share Tax: Available in Delaware, not Wyoming.
Annual Company Report: You have to prepare it in Delaware, they don’t want it in Wyoming.
Required Certifications: You paid for it in Delaware, Wyoming gives you these papers for free.
Moving Company to Another State: Not accepted in Delaware, allowed in Wyoming.
IRS Sharing: Delaware requires corporate tax information for this. In Wyoming you don’t have to share it.
Company Closure: In Delaware, you hisse a $200 fee to close a company. In Wyoming, this fee is only $50.
The Only Downside: Delaware charges $90 one-time for incorporation paperwork, and $102 in Wyoming. Be sure, even if there is a difference of 200 dollars, not 12 dollars, I still prefer the state of Wyoming.
Now Setting up a company in the state of Wyoming If you want, you can perform the following steps.
Company Establishment Steps in America
If you want to establish a company in the USA, you must work with an agency. There are hundreds of offices and law firms in the state of Wyoming that handle these transactions. The agency fees range from $45 to $150 per year. The reason why the government wants you to work with the agency is for the transactions to be carried out more professionally and faster.
To set up a company in the state of Wyoming $102 document fee + annual agency fee You can set up a company by paying.
The main issue that will bother you is opening a bank account on behalf of the company. Many banks require you to have a permanent office address, Federal Identification Number (EIN), and Goodwill biçim before you can open a bank account.
Opening an LLC Bank Account in the USA
It’s easy to set up a company in the USA, yes. However, if you are not aware of the required documents, you may find it difficult to open a bank account. After the September 11 attacks, it became difficult to open a bank account in the United States. Banks want to make sure that you are a real person and who you are. For this you need the following documents.
Stamped and Approved LLC Incorporation Certificate (After the company establishment, the agency sends it to you) EIN approval Letter (You can get it from the agency with an extra fee. Or you can get it yourself with your own effort. Below you can find the steps to get the SS4 biçim and EIN number.) Passport or Identity Photocopy (Passport is always Time is more effective)Money Required to Deposit(It is expressed as a minimum deposit. However, in most banks you do not need to deposit it)Company Seal with Company Phone Number Stamp (You can get this seal for $30. Not required at most banks)
You can easily obtain the required documents in the list above through your agency or individually. For example; If there is a place that offers virtual office service for less than 30 dollars, you can get this service from them. This also applies to the phone number.
Banks to Open Online Accounts in the USA
The working principles of all banks in America are different. Even the same bank branches have different requirements according to the states. You can easily open an account with the banks I have shared below.
Silicon Valley Bank: One of the most advantageous banks for innovative and foreign customers. You can perform your bank account opening process easily through this bank.
TIAA Bank: The second bank where you can open an account online the easiest. You can open an account with your EIN number in 5 minutes. The number of branches is negligible. It serves online. Like the money.
Wells Fargo: De facto özgü branches in almost all states. It requires less paperwork than other banks. Confirmation time is 5 minutes.
Note: When you open an account with Payoneer A bank account will be opened for you individually through First Century Bank. If you are applying for a business account, you only need your EIN number. You will then be asked to submit address, phone and LLC incorporation paperwork for verification.
Other Banks: You can also open a bank account at Bank of America, JP Morgan Chase, Citibank, Deutsche Bank and HSBC.
What is an EIN Number and How to Get It?
An employer identification number is also known as a Federal Identity number. No employee is required to obtain an EIN number. You can think of this number as the social security number of the company. You absolutely need this 9-digit number to open a bank account, get a loan or apply for a credit card. Optionally, you can request this number from your agency for 250 dollars. They apply on your behalf. If you say no, I do not want to hisse this money, follow the steps below. Because it is completely free to apply for an “EIN Number”.
In order to apply, you must first check the IRS (American Tax Office). SS4 Download and fill out the biçim. After completing the filling process To fax number: (855) 641-6935 submit the biçim. If you say you want to send it by mail, not fax, you can use the address below. (However, Fax will allow you to get an EIN number in a shorter time.)
Address: Internal Revenue Service, Attn: EIN Operation, Cincinnati, OH 45999
Important: Do not apply for an EIN without obtaining the LLC establishment approval. You can show your address in Turkey when applying for an EIN. You can get an EIN number with your Turkey address. However, when applying for a bank account, you will run into problems because the address on the EIN biçim is different. If you only want to open a business bank account with Transferwisa or Payoneer, you can fill out the EIN biçim with your address information in Turkey or the mailing address information given to you by the agency.
### Use a black pen when filling out the biçim. Fill in the requested information using separator capital letters.
I told you about the part of getting an EIN number. Now let’s get to the most important part. You need to be familiar with some of the terms and documents that he wrote above. It’s also about the different terms you might come across. I’m creating a little dictionary for you. By learning these definitions, you will know what and why you bought to establish a company in America.
IRS (Internal Revenue Service): It is the internal revenue service of the US Revenue Service.
ITIN Number: Individual Tax Identification Number. Tax tracking is provided by the IRS with this number. If you are going to submit a Tax Return, you can apply to this number. You need an accountant for that.
Annual Report Compliance: An annual report on the company is required by the state. Agents prepare this report for a fee of $100. However, in the state of Wyoming you are not required to prepare such a report.
Apostille: If you want to open a bank account in a different country, you need to get an Apostille. It means attesting the authenticity of a document.
Goodwill Certificate: It is a document showing that a company özgü paid taxes and özgü legally completed its incorporation procedures. While other states hisse for this certification, in Wyoming you can get it individually without paying.
Company Seal: Cold stamp symbolizing company name, founding date and state.
Company Establishment Certificate: Document proving that the company is established and official.
Important Final Word
### For those who want to establish a company in the USA, I have shared the information that will be needed above, but if you still say you cannot do it, work with a consultant who will do these procedures on your behalf at an affordable price. After all, you saw above how much the costs are. The fee for the consultant should be a maximum of $200.
### What I wrote is for informational purposes only and does not contain advice. You will always make the right decision. For this, you should do research without being tied to a single source.
### Establishing a company in the USA If you say it’s not for me, Setting up a company in Montenegro By reading my article titled, you can both establish a company and get a residence permit.
### You will need to geçirme funds for your account in the US. For this Methods of Sending Money Abroad You can geçirme money with the most affordable costs on the article titled.
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