Here are the basic things you need to know to live and set up a business in the United States if you’re a non-citizen.
US NATURALIZATION
Naturalization is the process by which U.S. citizenship is granted to a foreign citizen or national after he or she fulfills the requirements established by Congress in the Immigration and Nationality Act (INA)
Here are the requirements you need to acquire to be an official citizen of the United States:
- You must be at least 18 years old at the time of filing the Application for Naturalization.
- Be a lawfully admitted permanent resident of the United States.
- At the time of filling of application, you must be a permanent resident in the United States for atleast 5 years (or atleast 3 years if you meet all eligibility requirements to file as a spouse of a United States citizen)
- Have demonstrated continuous permanent residence
- Have demonstrated physical presence
- Have lived within the State or USCIS District for at least 3 months prior to filing
- Have demonstrated good moral character
- Demonstrates an attachment to the principles and ideals of the U.S Constitution
- Demonstrates an ability to read, speak, write and understand basic English
- Demonstrates a basic knowledge of U.S history, government and civic principles
- Take an oath of allegiance to the United States.
OPERATING A BUSINESS IN THE U.S
SEEK FOR A LEGAL ASSISTANCE
There are lots of legalities involved in setting up a business in the U.S, especially if you’re a non-citizen, and it is in your best interest to seek legal assistance when you’re planning to establish a business in the U.S.
APPLY FOR APPROPRIATE VISAS
For non-citizens, it’s best to apply for visas that will allow them to operate a business in the U.S. Let’s take the E2-visa as an example. E2-visa is a non-immigrant visa that gives people from other countries to put up a business in the U.S or even work for a business in the U.S. However, it is only temporary and does not necessarily lead to a green card as per, but there is still a way to get that much wanted green card in case you are opting for a permanent business and residence in the U.S as per Ashoori law.
GO FOR LIMITED PARTNERSHIP
Limited Partnership is a business structure that allows a general partner to oversee and operate a business while ‘limited partners’ are not involved in managing the business. With this, the general partner has unlimited liability for the debt, while ‘limited partners’ have limited liability up to the amount of their investment.
OR YOU CAN CHOOSE A C-CORPORATION STRUCTURE
C Corporation structure is a legal structure for a corporation in which the owners or shareholders are taxed separately from the entity. This is an ideal structure for outside investors, even with the fact that its profits are taxed twice, but it can be reduced legally with the help of tax planners that foreign owners can hire. This structure also protects a company from the crosshairs of I.R.S, the U.S agency responsible for tax collection.
CHOOSE A STATE TO REGISTER YOUR COMPANY
You should also determine where your business is located by choosing a state where you can register your company. Each state has different laws for businesses, so be sure to be well aware of the existing laws of the state that you’ve chosen. Here’s a quick look at some of the U.S states current management: California has a high jurisdiction cost, Nevada offers less burden for foreign business owners while Delaware has favorable corporate laws.
IT’S TIME TO OFFICIALLY REGISTER YOUR COMPANY
Just like with the laws, foreigners must expect that the forms and other requirements in forming a business vary depending on the state.
ACQUIRE AN (E.I.N.) EMPLOYER IDENTIFICATION NUMBER
An Employer Identification Number is needed not just to employ workers but also to open a bank account, get a business license and pay taxes.
Non-US Citizens can apply for this identification number directly with the Internal Revenue Service for free.