3 ms·
While you can probably stand up an LLC or C-corporation easily enough, you'd need to be careful about federal withholding tax[1] and additional federal tax form
by otoburb 4y ago
While you can probably stand up an LLC or C-corporation easily enough, you'd need to be careful about federal withholding tax[1] and additional federal tax forms to file[2] every year since you're not a US resident. Depending on which state you incorporate in, there may also be additional state tax forms for foreign owners/members.
I'm not sure what benefit there would be for you to create an entity in the US if you're not going to be here physically.
Before you speak to a lawyer or accountant you should have a good reason why you want to go down this path.
[1] https://www.irs.gov/individuals/international-taxpayers/nra-withholding https://www.irs.gov/individuals/international-taxpayers/nra-...
[2] https://drummondadvisors.com/en/2020/11/20/foreign-owned-single-member-llc-and-irs-form-5472/ https://drummondadvisors.com/en/2020/11/20/foreign-owned-sin...
- Startup_hustle 4y ago>I'm not sure what benefit there would be for you to create an entity in the US if you're not going to be here physically. Privacy.
- devKnight 4y agoone benefit for people from abroad of creating their corp in the US, is that services are available. ie: you can use stripe or other payment processors in a lot of countries. It would be cheaper to setup a US corp, stripe, bank account etc. And then just send the profits home through swift. With all of the fees factored in, sometimes it can be more expensive to do payment processing locally, because of crap rates from local payment processors. That's just one example, I'm sure there are others