Are you looking to expand your business to the US?
Expanding your business beyond your borders is a great thing, but it can be a daunting affair. This is especially so when you are not familiar with the country you are looking to relocate to, in this case, the United States.
There are usually a lot of things you need to take into consideration, such as:
Getting the proper visa,
Deciding on where to settle the business – west coast or east coast?
Getting staff to work in the new business location: will you be moving staff from the home country or hiring local staff?
Registering your business as an LLC, corporation or partnership
LLC, Corporation or partnership: https://www.indeed.com/career-advice/career-development/types-of-business
We understand if these questions cause your eyes to glaze over a bit, they tend to do that to a person. That is why we have created this complete guide to relocating your business to the United States.
Getting the proper visa
There are a lot of visa options to choose from when considering relocating to the United States. The right choice for you will depend on the specifics of your situation.
The L-1 Visa
If you have already established your business in your home country and have been trading for at least twelve months, and have four or more employees, you should consider the L-1 visa. The L-1 visa has two categories: L-1A and L-1B.
The L-1A visa is used by companies that wish to extend their business activities to the United States, either by establishing a physical presence or moving a senior executive. The person must have worked at the home office for at least one year to qualify for the visa. Also, even if you don’t have a U.S location yet, your senior executive can get the L-1A visa and open a U.S office on your behalf.
The L-1B visa does not necessarily require that your staff be a senior executive. Having specialized knowledge is enough to qualify for the visa. However, your company must have had offices in the U.S, and the person will be transferred from your company's home country to the U.S office.
The E-2 Visa
If you have been in business for less than twelve months or have fewer than four employees, you should consider the E-2 visa. This visa type also works for you if you do not have a business outside the U.S but are considering moving to the United States to start a business.
Deciding on a location – East Coast or West Coast?
When deciding on a U.S location for your business, the most crucial factor to consider is proximity to customers and partners. Other factors to consider are:
Cost: aside from the obvious costs of moving your business from one country to another, other hidden or secondary costs will come into play. Changes in overhead costs like mortgage payments, utilities, shipping, and wages are things you should consider carefully. These costs tend to affect everyday operations, and you must take the time to assess the cost benefits and see if they outweigh the other costs.
Time-zone differences: this is a crucial factor when moving offices as time-zone differences can affect how smoothly operations are run in the new office. A time-zone difference of 10 hours, for example, makes seamless operations all but impossible. In light of this, the East Coast is preferable, as the time zone difference with the West Coast is more challenging than with the East Coast.
Getting staff to work with: local or imported?
The answer to this question is dependent on the type of service your company renders. Does it require highly specialized skill sets, or will a minimum level of education suffice? If it requires a specialized skill set, will you need to move staff from your home country, or do you think it will be better for you to hire local hands and train them?
This closely ties in with the financial implications of relocating your business, and it is one for which you need to have a long-term perspective. If you are considering moving staff from your home country, you also have to consider that you might have to amend their wages, as the cost of living in the United States will vary from that of your home country.
Registering your business as an LLC
Getting a visa to travel between your home country and the United States is vital to registering your LLC. This is because you will need to travel from your country to the U.S to open a bank account for your U.S LLC. A U.S bank account will make it easier for your business to transact with other U.S businesses.
Once you've sorted that out, the other factors to consider are choosing your preferred LLC state, registering the LLC, getting your Employee Identification Number (EIN), and having a physical U.S mailing address.
LLC is easier to create than a corporation.
Let us help you
We understand how relocating a business to the United States can be a daunting task. With the gazillion details to see, it is easy to forget to do some vital things that can hurt your relocating process. We at Expat Us are here to make the process smooth and easy for you. We provide an efficient, safe, and smooth relocation experience to individuals and professionals. We are always ready to answer your questions; reach out to us today to schedule a free initial consultation.