Choosing the right service when forming a US LLC as a non-US resident is really important.
Trust, support, and good communication will make you feel more confident and relaxed while stepping into the global market.
When you start doing the research, a wave of information will get to you. The next thing you know is that you are feeling overwhelmed.
When we were standing in your shoes, we understood that having someone reliable would make things easier for us. To cut the noise, and help you make more informed business decisions we are comparing Stripe Atlas vs. Doola, and adding a twist with the Neubase services.
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 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 contracts, 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.
Learn more about the Annual report from our dedicated article.
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 Stripe Atlas
Stripe Atlas is a platform designed to help entrepreneurs around the world start a US-based company. Launched by Stripe, a leading technology company specializing in online payment processing, Stripe Atlas provides a process for incorporating a business in the United States.
With its services, Stripe just incorporates your company and leaves you to handle the rest. Also, the business formation is set up only in Delaware, which means that you’ll need to pay a $300 franchise tax each year even if your company has zero transactions.
The registered agent fee is $100 which is more expensive than many other places.
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 bookkeeping software, and you need to do your bookkeeping, which means that you take full responsibility for the numbers.
Stripe Atlas vs Doola
Neubase: Alternative for Stripe Atlas and Doola
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.
Grab your free 15-minute 1-on-1 consultation with our team.
Conclusion
After comparing Stripe Atlas vs Doola, it’s clear that each offers unique advantages and disadvantages.
Stripe Atlas provides a straightforward incorporation process but leaves many responsibilities to the business owner. Doola offers a comprehensive range of services but at a higher cost and with limited bookkeeping support.
Neubase, on the other hand, tailors its services to the specific needs of international entrepreneurs, offering a cost-effective, transparent, and supportive approach.
Choosing the right service for forming a US LLC as a non-US resident is essential for your business’s success and peace of mind.