This is either something you never thought was in the cards or have been considering it for a while. Doesn’t matter, in the article I’ll share my experience, why & how I ended up creating a business in the USA, in short here are 3 reasons why you must start your business in the USA remotely.
Table of content:
- Is it possible to start a business in the USA remotely?
- Accept international payments on your website
- Raise money & funds for your startup
- Use trading tools & platforms
- The ShortestCut – Sum up in a paragraph
Is it possible to start a business in the USA remotely?
Damn yes it’s possible. I remember how shocked and amazed I was that the thought hadn’t crossed my mind before. I first heard about Stripe Atlas, and how they provide the service of incorporating in the USA for foreigners, but then I said to myself c’mon, if there’s a company who provides the service, there should at least be a competitor.
So I did my homework, it appeared there were at least a dozen companies who provide the service, each with their advantages & disadvantages. I chose to work with firstbase.io and I highly recommend you to go with them too. Here you can see a detailed comparison between Firstbase vs Stripe Atlas.
Since this article isn’t about the “how”s, you can read a detailed article about how you can start your business in the USA here.
The process will cost you one time payment of less than 400$ 1 month and an annual payment of around 150$. You can read more on the costs of maintaining an LLC in the USA.
Accept international payments on your website
Alright, let’s jump to the reasons why you must start a business in the USA. The first reason, which was my main reason, is to be able to accept international payments on your website.
You see, when you come up with an idea and want to start selling online, it seems easy until you face the payments issue, now you’re stuck. You don’t know how to accept payments, chances are Stripe is not available in your country, it’s only available in 44 countries. Most payment gateways aren’t available worldwide, this is due to money transfer issues.
In most countries you can’t even receive money from PayPal, you can only pay.
Here are the options that you have:
- One option is to accept ONLY cryptocurrencies, which is another pain in the face, but that narrows your audience by at least 90-95%. So this is not a good option.
- The second option is to work with local payment methods, wherever you are, I’m sure there are locally accepted payment methods and gateways. But if you’re trying to sell online, this won’t work. Nobody wants to buy something from a website that wants the payment using their own wallets and gateways. For example, in Czech Republic people use Comgate, have you heard of them? Most probably not.
- Third option is to work with local banks, but this is another bad idea, you can’t have your international customers go to your local bank’s payment page, with their domain and complete a purchase.
Being able to accept international payments may be the main reason why you might consider starting a business in the USA. The weight that it removed from my shoulders is unimaginable. I was able to accept payments directly from my website easily. I integrated Stripe, and that was it.
Raise money & funds for your startup
Years ago, my brother wanted to create a shelter for dogs, he wanted to raise money with GoFundMe. Guess what, he couldn’t do it from Armenia, because he had to be in the USA.
All startups who are looking for international funding have to have a registered company in a respected country, by respected I mean a country that guarantees a secured and transparent formation, funding and reporting.
For example, the state of Delaware is one of the most favorite states for investors to look for startups to invest in. In other words, if your startup is registered in Delaware, investors will be more attracted to it, rather than in a state or a country that doesn’t have a clear set of rules for startups, investments and fundings.
Although I haven’t gone through this process and have never felt the need to find investors, I have guided many people who required it to this solution. All you have to do is to start a C-Corp in Delaware remotely and launch your startup.
Here’s the difference between LLCs & C-Corps.
Use trading tools & platforms – Buy & sell stocks
If you’re in the USA and you’re reading this, chances are you find this absurd, but yeah, you guys have some privileges, in these matters, over your human brothers and sisters living in other countries.
Most brokerages don’t accept applications for trading stocks & bonds from non-US citizens, it is tough. Again, we don’t have many options:
- Trade using your bank’s trading platform, this is far from the flexibility and the freedom you’ll get by directly trading on a broker’s platform. For every trade you’d have to ask your bank to lock it in. They will most probably have some conditions, like minimum trading account deposit, something like 10K or more.
By starting a business in the USA, you can easily open a trading account using your business with almost all brokers.
The ShortestCut – Sum up in a paragraph
With the many advantages that come, with living in a 3rd world or a developing country, also comes a fair share of disadvantages, but to each disadvantage/problem there’s a solution, you can create a company in the USA with less than a 400$ with firstbase. The main reasons to why must start a business in the USA remotely are:
- Being able to accept, receive & send international payments on your website & PayPal.
- To be able to attract investors and ask for funding. Most funding platforms don’t accept startups outside of the USA.
- Use trading tools & platforms to buy stocks and bonds. Most brokerage websites don’t accept applications from non-US citizens. With a business in the USA you can easily open a trading account for a business (not an individual).