Is Visa required for opening a business in USA?
Establishing a business in USA required certain guidelines which must be followed. It is necessary for the individuals to set up their business by following proper rules and regulations. Starting a business in another country is not the same as starting a business in one’s own country. The most significant aspect in the set-up of a business in US is registering the company. The process for US company registration is laid down by the US officials.
Eligibility Requirements for USA Company Incorporation
- Only one individual is required for the incorporation in the United States.
- The minimum deposit requested by the bank depends on the bank’s guidelines.
- A citizen of any country is eligible to apply for US company registration.
- No minimum deposit is required for the creation of a bank account.
Registration process to establish a company in the USA
Selection of the type of establishment
USA generally offers individuals to make a choice between two types of entities from which the individuals have to select one. The two types of establishments that can be set up are – corporation or LLC. After appropriate research, the business owner must choose the entity as per his preference.
State selection where the company will be established
The next step is to select the state in which the individual wants to establish the business. He must choose the state keeping in mind all the factors, where the
Filing of Incorporation report
A report of incorporation must be filled by the company and submitted to the agent who then further submits it to the authority. This is an important step that requires individuals to ensure they include all necessary information.
Appointment of a registered agent
The permission to apply for company registration in USA is given only to the authorized individuals who are known as the agents. Hence, appointment of an agent is a compulsory step in the US company registration. This step makes the US registration process different from other company registrations. Some of the agent’s duties include collection and submission of proper documents. He is also responsible to effectively communicate with all the individuals involved in the process and adhere to all the provisions.
Selection of a company name
The name of the company is what gives the first impression to the public. Thus, it must be unique and must reflect the brand’s identity. After the submission of the name, it is approved by the authority, once approved; the name can be used as the company name.
Creation of Employer Identification Number (EIN)
The US Internal Revenue Services (IRS) issues an employer identification number that is significant for the applicants. EIN is a unique identification number that is allotted to a company.
Submission of the certificate of authentication
It is important for the companies to be a part of Hague Conventions. The companies must submit certificate of authentication that do not fall under the Hague Conventions.
Obtain vendor’s license authorization
A tax permit is the next step that must be provided at this step. The individuals must acquire vendor license or authorization.
Acquire significant tax permits from the state
The company must also obtain other tax permits. All taxes including income and employment related taxes must be filed by the individual.
Acquire permissions and licenses
There are several licenses that must be provided by the business owner before company incorporation. He must obtain the required licenses.
Documents required to establish US Company
- Certificate of Incorporation
- Share certificate of all the shareholders
Is Visa required for opening a business in USA?
No, ideally starting a business in USA does not require a visa. But it is advisable to acquire a visa because the individual who starts the business would stay in the country for certain duration.
Types of Visa that USA provides are as mentioned below –
- B – 1 Visa
This type of visa is provided to the US government by the individuals to encourage the entry of more business owners that area interested in doing a business in USA.
- L -1 Visa
This is a visa type provided by US government for intra-company transfers. Individuals eligible for this visa type must be employed at a company in their country for at least one year.
- O- 1A Visa
This visa is provided to individuals who belong to the television and entertainment industry. Individuals who have achieved rewards and have been awarded are offered this visa.
- H1- B Visa
Conclusion
Visa is important if an individual wants to start a business and undertake business activities. It may not be obligatory but it is better for the individual to acquire. It makes business related activities less complicated to individuals who have visas with them.
Also, read: How to Start a Tech Company in USA As A Non Resident
