3 ms·

Ask HN: How to open LLC/C corp in the US as a foreigner

3 points by throw3292 9y ago

I'm in the EU and want to take on contracting or do a SaaS B2B (completely bootstrapped, no funding) startup but don't want to be taxed in my home country because of very high taxes. I've seen many resources on the web about opening a company in the US, however I haven't been able to get a clear answer for several questions. I guess many people in HN have dealt with this before so I thought of asking here: 1. Is there a service that can handle everything for me end-to-end? Including a bank account in the US. 2. What are the taxes that I have to pay in the case of LLC and C corp (Delaware)? 3. What are the costs of establishing/having (not just opening) an LLC/C corp for a year? Including opening, accounting, lawyer fees etc. Also, if things don't go as planned, what is the cost for closing it? 4. How do you deal with double taxation? By double taxation I mean being taxed in the US and your home country. Is there a way to only pay taxes in the US while still living in the EU?

mtmail 9y ago
> don't want to be taxed in my home country because of very high taxes. But you want to enjoy all the benefits of those taxes, like roads, schools, hospitals? When you take money out of the company (LCC, Ltd, etc), e.g. as monthly salary, you're taxed based on where you live (income tax). If anything you might have to deal with two jurisdictions and double-taxation agreements between countries now. > Is there a way to only pay taxes in the US while still living in the EU? Only if you live in the US longer than 183 days per year. Burden of proof is on you and you have to deal with two tax authorities.
ploggingdev 9y ago
Stripe Atlas lets you open a bank account and incorporate in Delaware as a C Corp : https://stripe.com/atlas https://stripe.com/atlas Don't bother asking for tax advice here, talk to a professional.
- throw3292 9y ago
  AFAIK not anyone can signup for Atlas, you have to be selected. Any recommendations for a professional? There aren't any that know the US landscape where I live.
  - ploggingdev 9y ago
    > AFAIK not anyone can signup for Atlas, you have to be selected. Contact HN user patio11 for an invite. I think his email is patio11 at stripe.com. > Any recommendations for a professional? There aren't any that know the US landscape where I live. The Atlas forums have people that might be able to guide you, but I think it's only open to people who signed up for Atlas. Note: Not affiliated with Stripe.
    - throw3292 9y ago
      With Atlas I would still have to pay taxes in my home country, right?
  - patio11 9y ago
    We're happy to consider anyone for Atlas; we have some requirements, but it is not a competitive process like e.g. a VC fund or Harvard. We're not trying to pick winners in advance. With regards to your other question about Atlas: while I can't provide tax advice, in general, incorporating a US company will obligate the company to pay taxes on its US operations, but most people who own a company from outside of the US will want to be e.g. paid a salary or distributions from the company, and it is highly likely that this will result in a taxable event for you in your home country. For details, including details which can materially change this (like e.g. the effect of certain tax treaties), please talk to an accountant.

3 points by throw3292 9y ago

mtmail 9y ago

> don't want to be taxed in my home country because of very high taxes. But you want to enjoy all the benefits of those taxes, like roads, schools, hospitals? When you take money out of the company (LCC, Ltd, etc), e.g. as monthly salary, you're taxed based on where you live (income tax). If anything you might have to deal with two jurisdictions and double-taxation agreements between countries now. > Is there a way to only pay taxes in the US while still living in the EU? Only if you live in the US longer than 183 days per year. Burden of proof is on you and you have to deal with two tax authorities.

ploggingdev 9y ago

Stripe Atlas lets you open a bank account and incorporate in Delaware as a C Corp : https://stripe.com/atlas https://stripe.com/atlas Don't bother asking for tax advice here, talk to a professional.

throw3292 9y ago
AFAIK not anyone can signup for Atlas, you have to be selected. Any recommendations for a professional? There aren't any that know the US landscape where I live.
- ploggingdev 9y ago
  > AFAIK not anyone can signup for Atlas, you have to be selected. Contact HN user patio11 for an invite. I think his email is patio11 at stripe.com. > Any recommendations for a professional? There aren't any that know the US landscape where I live. The Atlas forums have people that might be able to guide you, but I think it's only open to people who signed up for Atlas. Note: Not affiliated with Stripe.
  - throw3292 9y ago
    With Atlas I would still have to pay taxes in my home country, right?
- patio11 9y ago
  We're happy to consider anyone for Atlas; we have some requirements, but it is not a competitive process like e.g. a VC fund or Harvard. We're not trying to pick winners in advance. With regards to your other question about Atlas: while I can't provide tax advice, in general, incorporating a US company will obligate the company to pay taxes on its US operations, but most people who own a company from outside of the US will want to be e.g. paid a salary or distributions from the company, and it is highly likely that this will result in a taxable event for you in your home country. For details, including details which can materially change this (like e.g. the effect of certain tax treaties), please talk to an accountant.