Regardless of whether you are a US resident or not, setting up a company in the states comes both with great benefits and significant challenges. As one of the world’s most influential countries with one of the largest economies, finding success from your business in the USA will change your company forever.
But what does starting a company in the US involve? Let’s take a closer look.
Where should you set up your business in the USA?
When deciding in which state to establish your business, there are numerous factors you should consider, including the legal requirements, which can vary considerably from state to state. These regulations also vary if you are setting up an offshore company.
We cannot definitively answer the question ‘what’s the best state to start a business in the USA’ because it depends on your individual situation and business goals. However, we would like to take this opportunity to highlight the benefits of setting up a company in the Sunshine State, Florida.
The business benefits of Florida
The advantages of setting up your business in Florida include:
- Florida has a strong startup scene. In recent years, more entrepreneurs have set up new businesses in Florida than in other states.
- The taxation is extremely favorable towards companies in Florida; for example, there is:
- No income tax.
- No tax on goods in transit or goods produced in Florida.
- No property tax on inventory.
- No taxation if the company’s activity is not directly related to the USA.
- A competitive corporate tax rate.
- The state has strong links with the Caribbean and Central and South American markets.
- Florida has a strong economy that continues to grow. In fact, Florida’s GDP has increased by 15% since 2015, which is considerably higher than the 9.8% national GDP growth.
- The infrastructure in Florida is fantastic. Its impressive multi-modal transport system includes extensive rail and highway networks, international airports, and deep-water shipping ports, meaning it’s easily connected to other states in the US and countries worldwide.
Registering your Florida business
Whatever type of company you plan to set up in your business in the USA, there will be a process of registration. Registration requirements differ depending on the state, so it’s important to thoroughly research your state’s rules.
By completing your Florida company registration, you will increase protecting yourself from personal liability in the event that your company is sued and increase your company’s credibility. Registering an LLC in Florida can cost as little as $125, an extremely reasonable price considering its benefits.
Registered agent services
When starting a business in Florida, as in most other states, you must indicate a registered agent. In some states, the registered agent has to be an individual outside your company. Still, in Florida, they can be within our company or an outside agent, though the latter is often recommended.
An efficient and reliable way of designating a registered agent is to use a Florida-based registered agent service. They will be your official point of contact in the state and collate and relay all communications, such as legal documents.
Find a business translation service provider
For those non-US residents setting up a business in the USA, translation and localization will be an essential part of a successful business plan. From the translation of legal documents to the development of an effective marking campaign, you will need the help of a reliable translation service to ensure that your business is established securely and that your company projects a professional image.
However, even if you are a US resident who grew up in the country, you may find that working with a translation agency could be extremely beneficial. While English is the country’s national language, America is exceptionally linguistically diverse, and, depending on your target customer and location, it can be a sensible business decision to engage with these languages.
Consider Spanish translation for US businesses
Spanish is the second most widely spoken language in the USA, and in Florida, over 16% of the population are Spanish speaking. As of 2020, the top five states with the most Spanish speakers are:
- New Mexico (28.74%)
- Texas (27%)
- California (25.8%)
- Arizona (19.51%)
- Florida (16.46%)
Bearing these statistics in mind, making your business accessible to the Spanish-speaking community through Spanish translation could be a very wise decision.
As the second-largest economy in the world, the US is a tempting possibility for entrepreneurs around the globe. However, thanks to the country’s diverse laws, which vary from state to state, setting up a company in the USA is a complex endeavor. Fortunately, there are ample services, from registered agents to translation agencies, that can help you every step of the way.
When it comes to finding a reliable translation service, look no further than BeTranslated. Our experienced translators and efficient project managers provide the highest quality service at competitive prices. Contact us today for more information or a free, no-obligation quote.