Hello, I'm attorney Elizabeth Potts Weinstein. Today, we'll discuss whether you can establish an LLC in the United States if you are not a US resident. The short answer is yes, but it can be complex. Let's break down the key challenges and solutions for non-residents.
Key Issues for Non-Residents
Lack of a US Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN):
- Without an SSN or ITIN, you can't apply for an EIN (Employer Identification Number) online. This number is essential for tax purposes, even if you don't have employees.
Absence of a Physical US Address:
- You need a registered agent and a mailing address in the state where you form your LLC. Hiring a service to provide these can add to your costs.
Opening a US Bank Account:
- Most US banks require you to be present in person to open an account, which can be a significant hurdle if you're not physically in the US.
Trademark Registration:
- Filing for a trademark in the US requires identity verification, which can be problematic if you're not in the country.
Solutions to Overcome These Challenges
Hire Professional Services:
- LLC Formation:
- Consider hiring a service like Doola that specializes in setting up LLCs for non-residents. They can handle everything from the registered agent to the mailing address.
- For setting up a corporation, especially if you're seeking venture capital, Stripe Atlas is a reliable choice for forming Delaware Corporations.
- LLC Formation:
Banking:
- Online Banks:
- Use an online bank like Mercury, which allows you to set up an account entirely online with just a passport. Mercury offers high insurance limits to protect your funds.
- Online Banks:
Trademark Registration:
- Hire a Lawyer:
- Use a service like Trademarkia, which connects you with actual lawyers who can help you navigate the trademark application process.
- Hire a Lawyer:
Conclusion
Forming an LLC in the US as a non-resident is feasible but requires navigating several hurdles. Engaging the right professionals can simplify this process significantly.
Thank you for watching. If you have any questions, feel free to leave them in the comments. Don't forget to like this video, subscribe for more content, and join our community on Discord or Patreon for further engagement.
No comments