Are you a Digital Entrepreneur & Non-US Citizen looking to start a business?
Best Way to Register a company in the USA ( Lowest Cost )
USA law allow Non-US Citizens to register a company in the USA and start a business. America is famous for creating big internet companies owned and started by Non-US founders. When you register a company you have to choose any of the one states in the US as a place to register your company.
US has the various different type of corporations, C-Corp, S-Corp or LLC. Most popular among all is a Delaware C-Corp. Internet forums are full of questions like How to register a Delaware C-Corp in the USA.
Stripe one of the largest payment processing company in the US launched Stripe Atlas. The easiest way to start an Internet company in the USA.
What you get?
a. Delaware C- Corp company in USA.
b. Bank Account with SVB Bank. ( This is the only way to get US Bank Account without traveling to the US)
c. Stripe account
d. Issue stock to founders ( A must needed service )
e. Special offers on startup services ( $5,000 of free credits from Amazon Web Services )
Time: 2 to 3 Weeks. ( to get everything working)
Cost: $500 USD ( This is the lowest price you can get all of this services for, Charged once your company is fully set up )
HOW LONG DOES IT TAKE?
Important things to Note:
a. SVB Bank charges $25 every month ( waived off if min. balance is above $25,000 ). Make sure you are able to fund your SVB Bank account immediately once the account is active. [ After 2 months of non-payment of the fee, the SVB Account is closed and you will not be able to activate it again]
This is 2nd most important part of company incorporation. You need to obtain an EIN Number from IRS. If you have chosen Stripe Atlas for your company setup, you don’t have to do anything, Stripe will apply for you and you will receive the EIN number in 2 weeks.
You will need US address to receive any documents, you can purchase a US Business Address from virtualpostmail.com It will cost you $15/month but they will scan all your incoming documents and can also forward you those documents to anywhere in the world.
US Phone Number
You can purchase a US phone number through skype ( we took from skype ), you can share that numbers with US customers and when they call you, you can receive calls through your skype app or Skype can even forward calls to your mobile number. It generally cost $5/month for a US phone number.
Registered Agent for your Company
Every company needs to appoint a Registered Agent for their company as required by Law. ( Stripe charges $100 for Registered Agent after 1st year). I personally like the services from delawareinc.com
They charge $50 USD which is cheapest and the service is very good. You will never miss any important document from the government. You can share your US virtual address with them and they will forward all mails to that address. virtualpostmail.com can scan & email you the documents.
If you wish to take better services and save $50, Change Your Delaware Registered Agent
You can connect your Stripe Account, Paypal Account & SVB Bank Account and the bookkeeping can be taken care easily. ( It is worth the $$ to take this subscription, you will always have control over your business cash flow )
Changing Communication Address with SVB Bank
As per US law, your place of business address has to be a physical address ( it can be anywhere in the world ). So Stripe & SVB Bank will not accept any virtual address for registration. Still, you will need US Address Proof for your business to use many other services. They will ask you to submit bank statement for address proof. ( if you are a Non-US owner, the address will be a non-US Address).
Once you have purchased virtual address as mentioned above, you can email SVB Bank to update your communication address ( It is different than business address). SVB will send you a form to fill and provide a communication address, you can fill the US virtual address and send them to update.
Finally! you will have your bank statements showing US Address and you will now have address proof.
Annual On-going Compliances
As a US C-Corporation registered in Delaware you will be required to complete some annual compliance.
a. File your Annual Report & Delaware Franchise Tax. [ Last Date: March 1st every year ]
b. Federal Tax Returns. [ Last Date: April 15th every year ]
Below are answers to most frequently asked questions
What is the minimum cost of running a company in the US?
The avg. minimum cost of running a company in the US is $2000 USD.
a. $100 – Registered Agent fee.
b. $450 – Annual Franchise Tax
c. $1000 to $1500 – Annual Bookkeeping & Federal Tax Return Filing.
d. $15 – Virtual US Address ( https://www.virtualpostmail.com highly recommended )
e. $5 – Skype US number. ( You will need a US number to provide to customers, vendors & service providers)