Growing your business from local to global is an important step towards growth.
When you are about to enter a global market, from abroad, having a trustworthy service and partner in the process – is essential.
Setting a strong foundation right at the start means that you’ll be running your remote company smoothly in the long run.
What Every LLC Needs
There are some 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 first step in forming your LLC. This process involves registering your business with a US state, typically Delaware or Wyoming due to their business-friendly regulations. Incorporation gives your business legal recognition, allowing it to operate, enter into contracts state one, and protect your personal assets from business liabilities.
(By the way, our go-to option and recommendation is Wyoming.)
EIN (Employer Identification Number)
An EIN is like a Social Security number for your business. Issued by the IRS, it’s required for tax purposes, hiring employees, and opening a business bank account. Even if you don’t have employees, an EIN is essential for separating your personal and business finances.
Bank Account
A US bank account is vital for managing your business finances. It allows you to receive payments in USD, pay US-based suppliers, and simplify your accounting.
A US bank account also builds trust with customers and partners who prefer dealing with a US-based entity.
BOI Filing (Beneficial Ownership Information)
BOI filing involves providing information about the individuals who own or control your LLC. This transparency measure is required to comply with US regulations at preventing money laundering and ensuring legal accountability.
Annual Report
Most states require LLCs to file an annual report, which updates the state on your business’s status. This report usually includes information about your business activities, address, and members. Filing an annual report keeps your LLC in good standing and avoids penalties.
Tax Return
Even if you’re a non-US resident, your LLC must file a US tax return. The type of return depends on how your LLC is taxed (e.g., as a corporation or a partnership). Proper tax filing ensures you meet your obligations and avoid hefty fines.
US LLC formation with Northwest Agents
Northwest Agents are just registered agents that provide some services for the LLC, but nothing related to taxes. They will file for incorporation, file your annual returns, and your BOI reports. That’s all they do.
For bookkeeping and tax filing you have to reach out to someone else at an additional price.
In the beginning, they will charge you a very low fee for starting your company, but the charges rise from year two.
US LLC formation with Startglobal
StartGlobal charges a $399 flat fee (plus state fees) to start a company (which is $500 in total for Wyoming).
After that, they charge $150 per month for all other services, including bookkeeping.
Northwest vs Startglobal
Neubase: Alternative for Northwest Agent and Startglobal
Our focus is on a niche market—primarily entrepreneurs from outside the US. This focus allows us to tailor our services to meet your specific needs and cultural context. Unlike competitors who charge higher prices due to American tax and accounting requirements, we offer more cost-effective solutions for foreigners. Our pricing reflects the simpler tax obligations of our international clients, making our services more affordable without compromising on quality.
People in our region are used to being let down by various institutions, and we recognize the importance of building and maintaining trust. During our free consultations, we encounter skepticism, even towards well-established companies. Therefore, we prioritize transparency and openness with our customers. We believe in earning your trust through our actions and ongoing support.
We serve this community by offering a different product/service package, tailored specifically to their needs, with an emphasis on cultural understanding and practical support.
By choosing Neubase, you’re not just getting a service provider; you’re gaining a partner who understands your unique challenges and is dedicated to your success.
Our Services
We understand that establishing a company abroad involves navigating rights and obligations in a foreign country. That’s why we are committed to being there for you, not just at the start, but throughout your business journey. Our services are designed to be comprehensive and supportive, ensuring you are never left to handle complexities alone.
The Neubase Process
Explore the differences and see how Neubase stands out in the competitive landscape of US LLC formation.
Conclusion
As a non-resident of the US choosing a service for US LLC creation, it is important to consider the advantages and disadvantages of each supplier. In this case Northwest vs Startglobal
Although Northwest registered agent may have inexpensive initial prices, their constrained service offerings and annual fee increases may be a disadvantage. StartGlobal offers a more dependable and all-inclusive option with its flat cost structure and extensive service package.
But Neubase sets itself apart by catering to the unique requirements of global business owners and providing reasonably priced services.
Grab your free ‘1-on-1’ 15-minute consultation with Petar.
