Starting Your Business: Everything You’ve Ever Wanted To Know
Here’s some of the most common questions our clients ask to start their business:
What state should I form my LLC in if I live in the U.S.?
If you live in the U.S., form your LLC in the state where you’re physically located. For example, if you live in California, form your LLC in California.
What state should I form my LLC in if I do NOT live in the U.S.?
If you do NOT live in the U.S., we recommend forming your LLC in Wyoming. Why Wyoming? Wyoming is the best foreigner-friendly state for non-U.S. residents. Wyoming LLCs offer the best asset protection laws, no state or capital gain taxes, the lowest annual maintenance fee of $50/year, anonymous ownership (member names are not disclosed) and very foreigner-friendly laws. If you are living overseas and are a U.S. citizen, form your LLC in the state where you live when you return home for visits.
What type of business entity should I form for my business?
The most common business entity is an LLC. By forming an LLC, you create protection between your business and what you personally own so that if your business is sued or if you owe money to creditors, then your personal assets (like your personal bank account, home, cars, properties, investments or anything that you personally own) will not be touched. If you’re a U.S. resident and if you will be making more than $70k/year, then S-Corporation might be a better option for you to save more in taxes. If you more questions on which business entity is right for you, please ask by booking a call here or email us at info@mollaeilaw.com
Do I need to provide any documents to start?
There’s no documents required to start your U.S. business. You just need to answer our intake questions to start.
How long does the process take?
Once you start, we will personally review your intake answers to make sure we’re setting up your U.S business in the correct state (the state where you’re conducting business if you’re a U.S. resident or Wyoming if you’re a non-U.S. resident). Then we will do all of the filing for you and will be in contact with you via email to complete your filings and provide you all of your documents. The approximate time it takes depends on which state we form your LLC in. The approximate time it takes is 1 to 4 weeks.
What are the benefits of starting my business?
By starting your business, you will be able to:
- Work anywhere in the world
- Be your own boss
- Open a U.S. bank account
- Get a U.S. credit card to be able to start earning points (for free travel and stay at hotels)
- Take on and accept payments from U.S. clients
- Protect your personal assets from business debts and lawsuits. What this means is that if something happens to your business then your personal assets such as personal bank account, car, and home will be protected. All smart 6-figure entrepreneurs form their LLC or corporation first before they do anything.
What’s included in your Done-For-You Business Service?
Our Done-For-You Business Package Service includes:
- LLC Company Registration
- Dedicated Registered Agent Service
- “Just-Sign” Express EIN Service
- Custom Operating Agreement
- All State Filing Fees Included
- Business Name Availability Search
- Complete Business Welcome Kit
- All Communications With Secretary of State So You Don’t Have To
- 14 Necessary Business Contracts For Running Your Business
- 2 Contracts For Hiring Independent Contractors and Employees
- Banking Resolution
- 30-Minute Tax Assessment With Expert Accountant to Help You Save Money in Taxes
- Post-Incorporation Advice and Support for 12 Months
- Peace of Mind With a Business Lawyer On Your Side to make sure you’re set up correctly, quickly, and in compliance with U.S. federal and state requirements
Do I need a U.S. address to start my business in the U.S.?
No, you do not need a U.S. address to start your business in the US. You can provide an international mailing address where you will be able to receive your EIN. We also include Registered Agent service in our Done-For-You Business Service that is the only state requirement related to physical address. Our Registered Agents service allows you to form an LLC in the U.S. without a U.S. address.
Can you help me open a U.S. bank account?
Mollaei Law does not help with opening a U.S. bank account. However, we recommend all of our clients to GlobalJay.com who has been successful with helping our clients open their U.S. personal and business checking account.
What am I responsible for after my business is set up?
Starting a business in the U.S. comes with recurring obligations after your business is registered, including:
- Maintaining a Registered Agent where you will be able to receive important documents from the Secretary of State after your business is registered.
- Filing Annual Reports and submitting any fees in the state where your business was formed.
- Complying with any state or city business license requirements, depending on the location and type of your business.
- Paying federal, state, and city taxes each calendar year your business is active, even if you make no revenue from your business. I’ll be happy to refer you to an accountant after you become our client.
Can I expedite my LLC filing?
Yes, most states offer expedited filing for an extra fee. Check here to find out if your state offers expedited LLC filing. When you’re filling out the intake, we will ask you if you would like to expedite your LLC filing. Please answer “Yes” and we will expedite the filing for you (extra fees may apply).
What kind of online business should I start?
Every online business is different and each one has different benefits. We do not specialize in helping clients find what kind of online business to start. If you do some research and have an idea, then we can help you change your idea into an online business. What we can tell you is a lot of our clients are currently starting these types of businesses: Amazon FBA, e-commerce, consulting, software, marketing, real estate, wholesale, management, investment, development, and sales.
How many entrepreneurs have you helped in the past start their business?
We’ve helped over 4,680 entrepreneurs start their business without dealing with complicated legal forms.
You can find out over 2,084 5.0 Star ⭐️⭐️⭐️⭐️⭐️ Google Reviews here.
What makes your service better than the others?
Our 2,084+ 5.0 Star Google Reviews repeatedly mention that our clients love our extremely personal and quick service. We’re extremely responsive via email and we pride myself in answering our clients’ emails within minutes. Once you become our client, we make ourselves available to you and hold your land throughout the entire process.
What should I do next?
Click Here to Start your Done-For-You Business Service that includes everything you need to start your business in the U.S.
If you have any other questions, book a call here or email us at info@mollaeilaw.com