8 ms·

No offence, but this is contradicting everything I've learned about US incorporation so far :) Do you have any sources I can look into? From what I know you ca

by strls 11y ago

No offence, but this is contradicting everything I've learned about US incorporation so far :) Do you have any sources I can look into? From what I know you can easily form and operate a company in the US without ever being present there. You would have to come in person to get a bank account though. I know there are always companies who will take money for assisting with any kind of crazy stuff. Here I just wonder if anyone who's not selling such services could share some real-world experience.

deleted 11y ago
[deleted]
jcr 11y ago
The post from "therealmarv" is wrong on just about everything. Incorporation laws vary from state to state in the US, but they tend to be fairly similar. Many states do not have state income taxes for companies, and have business-friendly laws, hence the reason why so many humongous companies are registered in the tiny state of Delaware. A lot of publicly traded companies (and I think most YC-funded startups) are registered in Delaware. In Delaware, all you need in your incorporation filings is an "Agent of Record" and there are many "create your own Delaware company" type sites that provide "Agent of Record" services, including postal mail forwarding and similar. BTW, you might want to dig on the main YC site. I recall seeing something about incorporation paperwork and such. Once you have a US corporation, you can get an EIN number from the IRS which is basically your tax ID for filing Federal Income taxes with the IRS. Your EIN number and incorporation papers is enough to get a US bank account for your business. From there, everything else you might want to do becomes even easier. None of the above is difficult or particularly expensive. It might cost you about $1K total, plus yearly recurring fees for Agent of Record services.
- logfromblammo 11y ago
  Delaware is somewhat of a specialist in corporation organization, and a huge portion of the state's legislative and judicial resources are invested in being the venue of choice for incorporating a business. That's why the taxes on individuals living in the state are so low, they get a lot of income from corporate taxes and filing fees. If you are incorporating somewhere solely for the purpose of doing business elsewhere, a Delaware C corporation will definitely do the job, in the same way that a rocket propelled grenade can technically fulfill the same role as a flyswatter. If you have a functional business, and don't need investor money, an LLC will work just fine. Delaware, Nevada, and Wyoming are the most popular states to register an LLC, but by now, all states offer their own flavor of a limited liability partnership-based company. A New Mexico LLC does not require annual reports or fees, does not require naming your principals or filing much more than just the articles of organization. The filing does not have to be done by a member of the LLC. You just need to maintain a registered agent somewhere in the state, and that is pretty much the only requirement for staying in good standing as far as the state is concerned. You literally just need to hire a registered agent, fill in a very simple form, and pay $50. No lawyers are required (unless you hire one as your registered agent). If you are not doing any business in the US, and none of your LLC members are US persons, I don't think you need to concern yourself with US taxes. You register your foreign corporation wherever you are doing business, and if they call up the New Mexico Secretary of State, they will say, "yep, we do have an LLC registered in that name". If you want a US bank account, you will need an EIN from the U.S. federal government, which can also be done by a nominee having no other association with your company.

by strls 11y ago

deleted 11y ago

[deleted]

jcr 11y ago

The post from "therealmarv" is wrong on just about everything. Incorporation laws vary from state to state in the US, but they tend to be fairly similar. Many states do not have state income taxes for companies, and have business-friendly laws, hence the reason why so many humongous companies are registered in the tiny state of Delaware. A lot of publicly traded companies (and I think most YC-funded startups) are registered in Delaware. In Delaware, all you need in your incorporation filings is an "Agent of Record" and there are many "create your own Delaware company" type sites that provide "Agent of Record" services, including postal mail forwarding and similar. BTW, you might want to dig on the main YC site. I recall seeing something about incorporation paperwork and such. Once you have a US corporation, you can get an EIN number from the IRS which is basically your tax ID for filing Federal Income taxes with the IRS. Your EIN number and incorporation papers is enough to get a US bank account for your business. From there, everything else you might want to do becomes even easier. None of the above is difficult or particularly expensive. It might cost you about $1K total, plus yearly recurring fees for Agent of Record services.

logfromblammo 11y ago
Delaware is somewhat of a specialist in corporation organization, and a huge portion of the state's legislative and judicial resources are invested in being the venue of choice for incorporating a business. That's why the taxes on individuals living in the state are so low, they get a lot of income from corporate taxes and filing fees. If you are incorporating somewhere solely for the purpose of doing business elsewhere, a Delaware C corporation will definitely do the job, in the same way that a rocket propelled grenade can technically fulfill the same role as a flyswatter. If you have a functional business, and don't need investor money, an LLC will work just fine. Delaware, Nevada, and Wyoming are the most popular states to register an LLC, but by now, all states offer their own flavor of a limited liability partnership-based company. A New Mexico LLC does not require annual reports or fees, does not require naming your principals or filing much more than just the articles of organization. The filing does not have to be done by a member of the LLC. You just need to maintain a registered agent somewhere in the state, and that is pretty much the only requirement for staying in good standing as far as the state is concerned. You literally just need to hire a registered agent, fill in a very simple form, and pay $50. No lawyers are required (unless you hire one as your registered agent). If you are not doing any business in the US, and none of your LLC members are US persons, I don't think you need to concern yourself with US taxes. You register your foreign corporation wherever you are doing business, and if they call up the New Mexico Secretary of State, they will say, "yep, we do have an LLC registered in that name". If you want a US bank account, you will need an EIN from the U.S. federal government, which can also be done by a nominee having no other association with your company.