Limited Liability Company in Minnesota
Launch A Company In The United States, From Anywhere.
Step by step process of forming an LLC from outside the US:
United states are welcoming foreign businesses and have offered simple steps of incorporating as a non-citizen. The steps for forming an LLC are as follows:
Step 1: Select a state:
When you are selecting a state for LLC generation from outside the USA, the best option is to go for the states that are offering minimal or zero taxes.
Step 2: Name your LLC:
Naming your LLC is very important for getting an EIN and opening a US bank account for your business. There are some guidelines to following when you are about to name your company:
- The company name must include the phrase limited liability company or abbreviations LLC/L.L.C.
- Certain terminologies such as the FBI, State Department, etc. can confuse your LLC with the government agency. The use of such terms is prohibited.
- The use of restricted words such as University, Attorney, and Banks requires additional paperwork and a licensed individual.
- Buy your business URL even if you don’t plan to make a website to prevent others from acquiring it.
Step 3: Hire a Registered Agent:
Running a business from outside the US can never be possible without a registered agent. A registered agent is a person or a third party that sends and receives legal papers on your behalf in the USA. These legal papers include official correspondence like document filling, legal summons, official government notifications, tax forms, service of process notices, and a notice of lawsuits.
Step 4: File your LLC with the selected state:
Officially filing you LLC you have to file a document, name, Article of organization/ certificate of Formation or Certificate of Organization. This document outlines:
- Company’s name
- Your company’s agent’s address
- Name and legal address of the incorporator
- Value of authorized shares
Step 5: Creating an LLC Operating Agreement:
An operating agreement is a legal document that delineates the operating procedures, the rights, and responsibilities of each LLC and ownership of an LLC. It is important to create an operating agreement as states ensure that all the business owners are on the same page through this agreement.
Step 6: Get an Employer Identification Number (EIN):
Getting an Employer Identification Number is a weighty step while forming an LLC as it allows you to hire employees, pay taxes and obtain licenses. Now there is no need of having
- Social security number (SSN)
- US mailing address
- Individual tax identification Number (ITIN)
for getting an EIN. Another good news is that the IRS now allows an online process of getting an EIN. Foreigner entrepreneurs can submit the fax or mail for getting an EIN.