What is an ITIN number?
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Thank you for contacting us! It is a pleasure for our company to help you with your needs within the USA.
What is it for?
Having your ITIN number will allow you to avoid closing your personal or business accounts in the United States, as well as opening new bank accounts. It is also essential to obtain a credit history in the United States or even to rent a property or a vehicle in the United States.
Remember that:
Since January 2020, having an ITIN number will be an essential requirement when opening an account in United States banks.
Acquiring an ITIN number is a process that can take between six weeks and six months, therefore, it is recommended to interested people, start with the process as soon as possible and get the application of your ITIN number and your family group.
What is an LLC or a Limited Liability Company?
This legal form brings together some of the best characteristics of associations and corporations. Creating an LLC is an excellent alternative for entrepreneurs who want to formalize their business and gain greater prestige. It is also essential for those who want to buy a property and thus protect their investment, especially if they are foreigners, to avoid withholding taxes.
Responsibilities of an LLC
The liability of an LLC affects only its assets, not that of the owners, who are not commonly responsible for commercial debts. In its predetermined tax status, an LLC does not pay taxes on its earnings, both income and losses are transferred directly to the owners, thus saving taxes and double taxation, then the owner will have to declare those income in his personal tax return.
Advantages and Disadvantages of Creating an LLC
LLC Advantages
According to the predetermined tax classification, LLC is called a transfer tax entity, profits are taxed at the owner level, not at the LLC level (without double taxation).
An LLC has the option of being treated as a sole proprietor, partnership, S-corp, or corporation, providing plenty of flexibility.
LLCs do not require tedious administrative paperwork and record keeping.
LLCs provide homeowners with protection against business debt expenses.
There are no restrictions on who can be the owner of the company, foreigners or other companies can be owners, this model being ideal for foreign investors.
Disadvantages of LLCs
Unlike a C-Corp, an LLC typically does not have a board of directors comprised of a president, vice president, secretary, treasurer, or directors, but is made up of only managers and members.
The LLC cannot issue “stock options” (ordinary shares or preferred shares) to prospective investors, limiting the LLC’s ability to concentrate capital.
Frequently asked questions about how to create an LLC in the USA
Can you create a company in the USA as a foreigner?
If possible. We provide you with the facilities and train you, so that you can create your company.
Can it be created without being present?
Yes, creating an LLC can be done remotely. We will generate all the documentation for you, obtaining the number of taxes granted by the federal government.
Opening of bank accounts
Our relationships with banking and financial institutions give our clients the possibility of opening bank accounts efficiently, complying with strict international banking regulations.
It required?
To form the company we need:
– Choose the name.
– Scanning of partners’ passports and / or visas (at least 2 partners are recommended)
– Indication of percentages that each partner will have.
– Legal address in the USA (you can use our virtual office)
Create an LLC or a Corp?
We have extensive experience to help you find the best business structure according to your needs. Ask us.
In what state to join?
According to your business characteristics, we can define the State that best suits you, for the opening of your company. Delaware, Florida, choosing with you the best alternative.
Tax minimization using the Company / LLC
Forming the right company requires taking advantage and managing the tax benefits in your favor. Our services allow you to achieve this through the least possible tax exposure.
ALSO
– Your business does not have to operate immediately.
– Once created, the LLC can be closed at any time.
– Federal tax returns are not filed with the IRS until next year.
– You do not have to monitor employees obligatorily.
– An LLC can be created with a single owner
Avoid closing your bank accounts in the United States
If you want more information about the ITIN Number, complete the following form.
One of our professionals will respond to your inquiry within the next 24 hours.
Thank you for contacting us! It is a pleasure for our company to help you with your needs within the USA.