Setting up a company in the United States: advantages and steps to follow

70% of entrepreneurs worldwide choose the United States to create their companies, invest and expand their businesses. In a recent study conducted by the strategic consulting firm Kearney, the United States has maintained its position as the world's most attractive investment destination for the past 11 years. This trend indicates a vote of confidence by the global business sector in the U.S. economy and environment. 

Advantages of setting up a company in the United States

The decision to open a business in the United States is a strategic choice supported by a number of significant advantages offered by this country for international entrepreneurs. 

Below, we will explain some of the main reasons why the United States continues to be the preferred destination for business creation and expansion:

1. Large and Diverse Market: With a population of approximately 340 million, the United States offers a large and diversified market for companies, providing opportunities for sales and growth at scale that are difficult to find in Latin American countries.

2. Economic Potential: The United States has a robust and dynamic economy, with one of the highest Gross Domestic Products (GDP) in the world. This economic environment is favorable for the creation, innovation, investment and entrepreneurial growth of any business.

3. Legal and Regulatory Stability: The legal stability of the rule of law is fundamental to the U.S. legal system. This provides security and certainty for entrepreneurs to plan for the long term and make the best business decisions.

4. Access to Capital and Investment: As one of the world's leading financial centers, the United States offers access to a wide range of capital and investment sources. From angel investors to venture capital funds and liquid equity markets, there is an abundance of options available to finance and support business growth.

5. Tax Incentives and Business Benefits: Many states offer a variety of tax incentives and business benefits to attract entrepreneurs and investors to promote economic development. These incentives can range from tax exemptions, tax credits and grants, to financial support programs.

Best states to start a business in the United States

The United States is a prime destination for entrepreneurs from around the world seeking to establish and grow their businesses. However, within the country, there are certain states that stand out for their business advantages, developed infrastructure and conducive environment for foreign investment. We will explain some of the best states to start a business in the United States.

1. Florida: With its favorable climate, geographic proximity to Latin America, and diverse and dynamic population, Florida has become one of the most sought-after destinations for Latino entrepreneurs to start their businesses. In addition, the process of incorporating a business in Florida is relatively simple, and its high purchasing power allows for rapid commercialization.

2. Texas: Texas has emerged as an entrepreneurial hub, especially for those with a focus on technology and logistics. With favorable tax policies and a booming technology sector, Texas offers an environment conducive to innovation and business growth.

3. Delaware: Although it is one of the smallest states in terms of land area, Delaware is known for its favorable business environment and flexible incorporation laws. Many companies choose Delaware as their headquarters because of the tax advantages and the simplicity of the incorporation process.

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4. California: Despite having a higher tax burden compared to other states, California remains a magnet for entrepreneurs, especially in the technology industry. With innovation hubs like Silicon Valley, California offers access to capital, talent and collaboration opportunities that are unique in the world.

5. New York: As one of the world's most important financial and cultural centers, New York is an attractive destination for a variety of industries, including technology, finance, and real estate. With a developed infrastructure and a highly skilled workforce, New York offers a vibrant and competitive business environment.

Step by Step: How to Create a Company in the United States?

Discover the key points to expand your business to the United States. From initial research to hiring employees, every step is critical to turning your business vision into reality in the U.S. market.

1. Research and Planning:

• Thoroughly research the U.S. market to understand the demand for your product or service, as well as the existing competition. 
• Perform a market analysis to identify opportunities, threats, strengths and weaknesses. 
• Develop a detailed business plan that includes your business model, marketing strategy, financial projections, and short- and long-term objectives.
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2. State Selection and Legal Structure:

• Carefully evaluate the different U.S. states and choose the one that best suits your business needs. Consider factors such as tax burden, business regulation and market opportunities.

• Decide on the most appropriate legal structure for your business, such as a limited liability company (LLC) or a corporation (Inc.). 
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3. Company Registration:

To create your company in the United States, you only need to be over 18 years old and have your identification document from your country of origin, we will do the whole process for you and we will make sure to achieve a successful incorporation thanks to our experts.

If you decide to carry out the process without the accompaniment of our professionals, you must:

• Verify the availability of your company name and register it with the Secretary of State of the chosen state.
• Complete all necessary registration forms and pay the corresponding fees.
• Obtain an Internal Revenue Service (IRS) tax identification number (EIN) for your business.
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4.  Compliance with Legal and Regulatory Requirements:

• Obtain all necessary licenses to operate your business at the state and local level. This may include business licenses, building licens and professional certifications, depending on the type of business you are establishing.
• Be sure to comply with all labor, health and safety regulations, as well as zoning and land use requirements.
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5. Opening of a Business Bank Account:

• Open a business bank account for your company to keep your personal and business finances separate, a key point to operate once you have created your company in the United States.
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6. Establishment of a Fiscal Presence:

• Understand your federal, state and local tax obligations, including Income Tax, Sales Tax and Payroll Taxes.
• Consider hiring the services of a company specialized in tax obligations to help you with tax planning and compliance with your tax obligations. In Prodezk we are specialists in these processes, contact us and receive the advice of expert professionals.
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7. Hiring of Employees (if necessary):

• If you plan to hire employees, be sure to comply with all federal and state labor laws related to payroll, such as paying the minimum wage, complying with hiring regulations, and keeping accurate records.
• Develop clear policies and procedures for hiring, training and managing employees, and be sure to communicate them effectively to your team.

Starting a business in the United States offers a wide range of options backed by a diverse market, robust economic potential and a stable legal environment. To successfully complete this process, it is essential to follow a detailed plan from initial research to compliance with legal and tax requirements. 

We understand that this process can be overwhelming for some. That's why at Prodezk we offer our personalized service every step of the way, ensuring a smooth experience and a successful registration for your company in the United States.

Contact us now and schedule a free consultation.

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