The American Dream is one of the many concepts that make the United States of America one of the most opportunistic countries in the world. It’s been this way since the dawn of the industrial revolution where free thinkers and inventors were given the opportunity to have their innovations funded and grown by the incentives of a capitalistic society.
Have you ever had a dream of your starting your own business in the heart of America? Hoping it’ll pivot into a global brand that is recognized everywhere in the world? Well, you can very well achieve that with the American Dream alive and well here in the United States!
What Are The Requirements?
In order to start a business in the US as a foreigner, you must first meet the legal requirements to set up shop.
- You neither need be an American citizen nor be present in the country to run your business. But, you must initially be here to set up your bank accounts and obtain documents from the IRS.
- You may also hire an agent to represent you as a proxy in your absence for the signing of sensitive documents if you are unable to do it personally. Hiring employees to set up and run your company as an LLC (Limited Liability Company) can go for as low as 700USD to start, maintaining at an average of 300USD a month; which is just a few notches higher in costs for running your business locally, but worth the return in the American market.
- It should be noted that it’s always better to hire a legal representative first in the USA so you can receive proper counsel and acquire a better understanding of the law, and the differences between their country and yours; acting as your head consultant for the direction you wish to go for.
Another option you may want to consider is buying rights to a franchise or branch of an already existing business. This way you are able to own an already known brand and the main company will take care of most of the paperwork. You could be an overseas investor to a very lucrative business if you choose wisely. Whichever direction you choose, there will always be hurdles but that’s just the cost of business and the journey towards reaching the American dream you desire. Every ounce of effort you give to run a reliable, and legal business will help ensure its success. So don’t take any shortcuts when securing the legalities of your aspirations or you could face more problems than you could have ever imagined! Invest in your business by investing in a good business lawyer.