When you are about to start a new professional chapter in life, from abroad, having a straightforward guide in the process – is priceless.
We’ve been there and we know well that: multiple options mean multiple recalculations, re-thinking, and even more research. Meaning, it’s even more important to choose the right one.
What Every LLC Needs
There are several steps you’ll need to take to start a US LLC, all of which are critical for your business to run smoothly. Here’s what you’ll need:
Incorporation
The initial stage of creating an LLC. This procedure entails registering your company with a US state; Delaware or Wyoming are popular choices because of their business-friendly laws.
By granting your company legal status through incorporation, you may do business, sign contracts, and shield your personal assets from debts incurred by the company.
(By the way, our go-to option and recommendation is Wyoming.)
EIN (Employer Identification Number)
For your company, an EIN is comparable to a Social Security number.
It is issued by the IRS and is necessary for creating a company bank account, recruiting staff, and filing taxes. Even if you don’t have employees, an EIN is essential for separating your personal and business finances.
Bank Account
To properly manage your business funds, you must have a US bank account. It makes bookkeeping easier and enables you to pay US-based vendors and receive payments in USD.
Also, a US bank account fosters confidence with clients and business associates who favor doing business with US-based companies.
BOI Filing (Beneficial Ownership Information)
Providing information about the people who own or manage your LLC is a requirement of the BOI filing process. It is necessary to comply with US rules about money laundering prevention and legal responsibility to implement this transparency strategy.
Annual Report
The majority of states require that LLCs submit an annual report that informs the state of the state of your company. Typically, this report contains details about your members, address, and business operations. Your LLC avoids penalties and maintains good standing by filing an annual report.
Learn more about the Annual report from our dedicated article.
Tax Return
Your LLC is required to submit a US tax return even if you are not resident in the US. Depending on how your LLC is taxed (as a corporation or a partnership, for example), the kind of return will vary. Ensuring accurate tax filing helps you stay out of trouble and save a lot of money in penalties.
US LLC formation with Firstbase
Firstbase provides it all but is quite expensive. They charge a one-time fee only to incorporate the company, which can be expensive for a state like Wyoming.
On top of that, they will charge you $315 per year only for the business address (free with Neubase), $1800 for the tax filings, and the bookkeeping starts at $990 per year.
US LLC formation with Doola
Doola was created to help international entrepreneurs start businesses in the United States knowing that it can be hard for people who don’t live in the US to follow US business rules.
So, it offers a range of services to make the process easier, from starting a company to running it.
Very similar to Neubase, with two main differences:
- The full package costs $2000 (or $300 per month)
- They don’t do the bookkeeping for you. They just provide you with a bookkeeping software, and you need to do your bookkeeping, which means that you take full responsibility for the numbers.
Firstbase vs Doola
Neubase: Alternative for Firstbase vs Doola
We focus specific market, which is mostly non-US entrepreneurs. This enables us to customize our offerings to your unique requirements and cultural settings. In contrary to rivals that impose greater fees on overseas clients because of US tax and accounting regulations, we provide more affordable options. Our services are more reasonably priced without sacrificing quality, as our pricing takes into account our overseas clients’ less complicated tax needs.
People in our region are used to being let down by various institutions, and we recognize the importance of building and maintaining trust. Even about well-established firms, we run into skepticism during our free consultations. As a result, we make openness and honesty to our clients a top priority. We firmly believe that our deeds and continued assistance should win your trust.
In order to better serve this population, we provide a unique product/service package that is suited to their requirements and places a strong focus on practical assistance and cultural awareness.
By trusting Neubase, you’re getting more than simply a service provider—you’re getting a partner who is committed to your success and who recognizes the particular difficulties you face.
Our Services
We are aware that setting up a business overseas involves complying with local laws and regulations. We are dedicated to supporting you throughout your company journey, not just at the beginning.
The solid basis of our services: is to be both thorough and helpful, so you’re never left to deal with difficulties on your own.
The Neubase Process
Explore the differences and see how Neubase stands out in the competitive landscape of US LLC formation.
Grab your free 15-minute 1-on-1 consultation with our team.
Conclusion
After comparing Firstbase vs. Doola, it’s clear that each has its unique pros and cons
Firstbase offers a comprehensive incorporation service but comes at a high cost, with additional fees for essential services like a business address and tax filings. Doola provides services aimed at international entrepreneurs but requires you to handle your own bookkeeping, adding to your responsibilities.
Neubase, on the other hand, tailors its services specifically to the needs of international entrepreneurs, offering a cost-effective, transparent, and supportive approach.
Our commitment to understanding your unique challenges and providing continuous support ensures that you have a reliable partner in your business journey.
Choosing the right service for forming a US LLC as a non-US resident is crucial for your business’s success and peace of mind.
