If you are wondering whether you should form an LLC in the United States, then this article is for you. If you intend to start a U.S. business as a foreigner, one of the most important steps you need to take is to choose a business structure. The best way to make the right choice is by working with an experienced business lawyer who can break down the pros and cons of the available structure types and help you choose the best one for you based on your needs, goals, and circumstances.
The LLC structure is one of the most popular structures because it offers several benefits that can be immensely valuable for foreign individuals looking to start the business of their dreams in the United States. LLCs are, essentially, simplified versions of corporations, as they offer many of the same benefits without the formalities associated with starting and maintaining a corporation in the United States and without double taxation. This makes starting an LLC relatively easy, which is one of the main reasons why the vast majority of first-time business owners and foreign businesspeople choose this structure.
LLCs also provide limited liability protection, which essentially means there is a legal barrier between the owners of an LLC and the LLC itself – a barrier that is virtually impenetrable by creditors. In other words, if you own an LLC that has a debt, your company’s creditors cannot come after your personal assets.
Another advantage of forming an LLC is that it can be far more affordable than forming other types of entities such as corporations. This is another big reason why foreign businesspeople tend to choose this structure.
How to Form an LLC in the United States
If you are a foreigner looking to form an LLC in the United States, the first step you need to take is to choose a state. The state you choose will determine the specific requirements you will need to meet to start and maintain your LLC as well as how much it will cost and how long it will take.
There are 50 states to choose from; however, there is really only one: Florida. If you are a foreigner looking to start the business of your dreams in the United States, the Sunshine State is simply the state to choose. Florida’s economy, multi-cultural business environment, weather, and beauty make it the perfect destination for foreign entrepreneurs. If you choose Florida, you will not regret it.
Once you have chosen the state in which you will like to form your LLC, you need to start the formation process, which is relatively easy to navigate. However, making mistakes is also easy, especially if you are not in the country at the time of forming your business. This is why working with an experienced Business Lawyer who can help you navigate the business formation process from beginning to end is vital.
However, the role of a lawyer in your company does not end there. Even if you successfully form an LLC in the United States, you still have to run it. This is where things get a bit tricky. How will you run your company? If you intend to operate your company – which means you intend to work for it – you will need to apply for a business visa; otherwise, you will not be allowed to be actively engaged in the operations of your LLC.
Depending on the visa you choose, it might take months for it to be approved. While your application is reviewed, who will manage your company? If you have partners, one of them or all of them can run the company while you get your visa. If you do not have partners, you can hire a manager, which is not as easy as it sounds.
There is not a single thing in the paragraphs above Attorney Romy B. Jurado is not able to help you do successfully. From determining whether the LLC structure is right for you and guiding you through the business formation process to helping you prepare your business visa application, helping you hire the right manager, and representing your business in any legal disputes that might arise, Attorney Romy B. Jurado will be there for you.
If you are looking to form an LLC in the United States, give Business Immigration Attorney Romy B. Jurado a call today at (305) 921-0440 or send an email to Romy@jflawfirm.com to schedule an initial consultation.