When starting a company in the USA, you need to know the field of operation of your company and whether you will need exclusive permits for your operations. For example, banking, insurance, or aerospace fields are subject to exclusive permits. Thus, the establishment of a company that will operate in such fields should proceed accordingly. Besides these, there are also fields of operation that require a license, such as medicine, dentistry, and architecture.
Before initiating the company establishment process, you need to decide on your company type, who will be the owner (s) of the company, who will manage the company, in which state your company will be established, and the name of your company.
Corporation or LLC are highly preferred company types when starting a business in the USA. The titles of company owners and manager/managers vary depending on these company types. If you own a corporation, your title would be “shareholder”. On the other hand, in case your company type is an LLC, then your title would be “member”. As for the executive title, it is called “director” for corporations and “manager” for LLCs.
Determining the name of your US company also changes based on the state in which your company will be established. Therefore, it would be better to choose the state in which you will set up your company first. When selecting a state, you can decide upon in which state you plan on doing business or whether a state, such as Delaware, has exclusive legal advantages. After determining the state that you will establish your company, you need to name your company according to the naming rules of the state. Moreover, the name of your company should include an abbreviation depending on your company type.
Following these procedures, you may need to appoint a Registered Agent located in the state where your company is formed. Nearly every state requires a registered agent within its borders for the admission of legal procedures, annual reports, annual tax forms, or the submissions of other essential correspondences. Thus, choosing a registered agent is of great importance.
Incorporating in the US and Company Types
The general goal of starting a company or incorporating a business in the USA is to protect the shareholders from business responsibilities. The liabilities of shareholders or investors are legally held separate from their company, no matter whether the company type is a Corporation or an LLC. Moreover, incorporating a business has many benefits such as tax advantages, reputation, and protecting the company name.
As we mentioned, there are many company types in the USA; however, the most common company types are Corporations and LLCs (Limited Liability Companies). While a Corporation is regarded as a separate entity from its stakeholders, LLCs combine both the corporation and partnership features.
How Long Does It Take to Establish a US Company?
Establishing a US company varies depending on the state you choose to form your company and the service type you receive. Each state has different processing times. Besides, most states don’t offer accelerated services, making it hard to clearly predict the USA company registration period.You can contact us to learn more about starting a US company, establishment period, and service content, or check out our website by clicking here.
Start Your US Company With Mükellef Instantly!
Mükellef enables people seeking to reach potential markets to set up an online business without getting citizenship, flight tickets, visas, and official procedures! You can find out more about the necessary information to establish a US company, the packages we offer, and pricing details here.
In case you have any other questions, you can always contact us via email@example.com.