Starting a business in Florida as a foreigner can be a great opportunity to pursue your entrepreneurial dreams. However, if you are going to start a business in the Sunshine State, you need to do it the right way. In other words, you need to work with a business lawyer.
Starting a business in Florida as a foreigner without legal help is a big mistake that can cost you not only a lot of money but also a lot of something far more valuable: time.
So, if you are looking to make your dream of having a business in the United States come true, keep on reading to learn why doing it without legal help is a bad idea.
You Need Legal Help to Choose the Right Business Entity
One of the reasons why you need legal help when starting a business in Florida as a foreigner is to choose the right business entity for your business. This will affect your personal liability, tax obligations, management control, and ability to raise capital. Choosing the right business entity for your business in Florida can help you:
- Protect your personal assets.
- Reduce your tax burden.
- Access many legal and financial opportunities in the U.S. market.
Choosing the wrong business entity, on the other hand, can expose you to:
- Unnecessary risks.
- Complications.
- Costs.
You need legal help to determine which business entity suits your business needs and goals and to form and register your business entity properly.
As a foreigner, you may face some restrictions or limitations when choosing a business entity in Florida. For example, if you want to form an LLC, you need to have a valid Social Security number or an individual taxpayer identification number (ITIN).
If you want to form a corporation, you need to have at least one director who is a U.S. citizen or resident. If you want to form a partnership, you need to have at least one partner who is a U.S. citizen or resident.
You Need Legal Help to Obtain the Required Visa
Another reason why you need legal help when starting a business in Florida as a foreigner is to obtain a visa that allows you to legally live and work in the U.S. There are several types of visas that may be suitable for foreign entrepreneurs and investors, such as:
- E-1 Treaty Trader Visa: This is a non-immigrant visa for nationals of countries that have a treaty of commerce and navigation with the U.S. who wish to engage in substantial trade between their country and the U.S.
- E-2 Treaty Investor Visa: This is a non-immigrant visa for nationals of countries that have a treaty of commerce and navigation with the U.S. who wish to invest a substantial amount of capital in a U.S. business.
- L-1 Intracompany Transferee Visa: This is a non-immigrant visa for employees of multinational companies who wish to transfer from their foreign branch or subsidiary to their U.S. branch or subsidiary, or to establish a new U.S. branch or subsidiary.
- EB-5 Immigrant Investor Visa: This is an immigrant visa for foreign nationals who wish to invest at least $900,000 in a U.S. business that creates or preserves at least 10 full-time jobs for U.S. workers.
Each type of visa has its own eligibility criteria, application process, duration, and limitations. You need to make sure that you choose the right visa for your situation and that you maintain your lawful status while running your business in Florida.
In addition, obtaining a visa can be challenging, time-consuming, and expensive. You need legal help to determine which visa suits your situation and qualifications as well as to apply for it and maintain it.
You Need Legal Help to Comply with Laws and Regulations
Another reason why you need legal help when starting a business in Florida as a foreigner is to comply with all the relevant laws and regulations that apply to your industry, location, and operations. These may include federal, state, and local laws and regulations related to:
- Licensing and permits.
- Taxes
- Employment
- Contracts
- Consumer protection.
Being compliant can help you avoid fines, penalties, lawsuits, and other legal consequences that may harm your reputation and profitability. However, all these different laws and regulations can be complex, dynamic, and confusing, so you will need help.
Getting into legal trouble can be very stressful, and getting out of legal trouble can be very expensive, so you need to work with someone who can keep your business out of trouble by being proactive and making sure avoidable problems do not arise.
Are You Considering Starting a Business in Florida as a Foreigner? We Can Help You
At Jurado & Associates, P.A., we specialize in helping foreign entrepreneurs and investors become part of the greatest economy in the world. We have the experience, knowledge, and skills to help you start the business of your dreams in the United States. We will be by your side every step of the way.
You can reach us by phone at (305) 921-0976, by email at [email protected], or by WhatsApp at +1 (305) 921-0976. Do not let the legal challenges of starting a business in the U.S. stop you from pursuing your business dreams. Contact us today and let us help you.
