Registering a Business in the USA: Peculiarities of Maintaining a US Company
Why are US companies so popular with businessmen all over the world? Company registration in the US offers a multitude of advantages: quick and easy incorporation process, reliability and legislative protection of business, option to set up accounts in US banks remotely, transparent taxation.
Registering a company in the United States is just the first step. For your business to be successful, you need to consider the corporate specifics of your company, be aware of the documents which will be required throughout the company’s operations and also understand tax-related and financial aspects of doing business in the USA. This article provides a detailed overview of the peculiarities of maintaining a company in the US.
Which documents are required to launch a company in the USA?
Having created a company, you will need to prepare a set of documents for your newly incorporated US company to avoid financial losses in the future. After that, the so-called Post-Incorporation Setup will be required. It includes:
- 83(b) Election and Instructions
- Action of Incorporator
- Board Consent
- Certificate of Incorporation
Having basic documents for your US company in good order is key to avoiding multiple issues in the future. And this is something you can entrust to the qualified experts at SBSB!
Issue of apostilled documents for a US company
When doing business, one often needs to provide copies of certified (legalized) corporate documents to various foreign partners or public authorities.
The USA are a party to the Hague Convention of 1961 that provides for a simplified document legalization process through apostillation. A number of US government agencies have the authority to apostille documents. Depending on the document category, it can be certified by the United States Department of State or by Offices of the Secretary of State. A document issued in the USA, bearing an apostille and accompanied by a notary certified translation will be legally valid virtually in any country.
Thus, having registered a company in the USA, you will also be able to issue legalized corporate documents easily.
Making corporate changes in a US company
Next, it is important to make relevant legal and corporate changes on time, and promptly inform the registrar about those changes.
You will need to report all significant company events, including change of registered office address, change of directors or their data which are subject to inclusion in the register of directors, change of main type of activity etc. Implementation of corporate changes in the USA is neither time-consuming nor costly. And the option to make changes remotely is a great upside.
Reporting in the USA
Tax returns required for US companies may vary depending on the company type and tax treatment. Corporate statements in the USA (including those for LLCs) can be submitted online or mailed.
A tax year in the USA is equal to one year, with the company’s financial year not necessarily coinciding with the calendar year. The financial statements of US companies are subject to the US GAAP standard. Penalties may be imposed on companies failing to submit their returns on time. You should also keep in mind that overdue tax payments will also entail fines.
Thus, company incorporation in the USA offers a host of benefits for your business and has the potential to multiply your income. Major accomplished businessmen target the Silicon Valley, dreaming to register a company there and operate in the USA.
SBSB has unique knowledge and skills to support your US business. Our lawyers are there to consult you on all matters related to company registration in the USA. Get in touch with SBSB now and we will be happy to make you a special discounted offer for a US company with an account already set up. Join our Telegram chat for free online consultations