Getting Creative With Advice
Steps to Creating a Business as An Immigrant.
The life of an immigrant in the US is full of challenges, but that doesn’t keep the numbers from growing; statistics show that there were about 44.5 million of them in 2017. While numerous people flee to other countries to escape graft and war, the majority of immigrant are university educated and seek better jobs to provide a better life for their families. The American Dream continues to thrive and immigrants being able to own companies confirm that no one is excluded from being prosperous in the Land of the Free. However, there is a difference when it comes to the requirements to start a business between immigrant entrepreneurs and native entrepreneurs. It is essential to obtain an entrepreneur’s visa. Beneath are all the details an immigrant should be aware of regarding starting a business.
It is a good idea that before you start looking for an entrepreneur visa, first try to be conversant with the typical business types in the US. The common business structure includes an S-Corporation which unfortunately is for US citizens only, C-Corporation that is simply a corporation which is called an Inc, and lastly a Partnership which is jointly owned by two or more persons.
As far as matters regarding visas are concerned, you should know they come in different types and it is imperative that you understand each and every one of them to know what would be the right one for you. The first option is the EB-5 Immigrant Investors Visa. It would be the best option for you have amassed huge capital that you want to channel into American. The beauty about the EB-5 immigrant investors visa is that you and your family automatically get green cards but, it also has a lot of paperwork and will cost you one million dollar. Similarly, there is the F-2 Investor Visa which empowers you to stay in the US but temporary which will require you to run or put in money in American business. If you are planning to expand your business registered in your state and open offices in the US, then you will need to seek an L-Visa.
Once you have obtained a visa, register your business. Determine the state that you will want to set up a business and understand that some will be more lenient to immigrants than others when it comes to registering and operating a company. State will require you to have a company residence depending on the kind of firm you want to set up.
You will then need to name your business which would be the trade name and business name. The next thing would be getting your taxation information which will need you to get your EIN.
Refer to: this