For many people, starting their own company and growing it into a successful business is one of their life goals. It’s a way to build something from scratch and enjoy the financial freedom that very few people will ever know.
However, one question our team at Accountants Without Borders often gets is, “can I start a business in the USA as a foreigner?” While there are many caveats to consider when it comes to moving your non-US business to the States, it is possible, and doing so affords you numerous different benefits.
Reasons to move your foreign business to the United States.
You want to hire employees of the highest caliber.
Every successful business is built on the hard work of highly skilled and incredibly motivated employees, and some of the best in the world are found in the US. According to the US Census Bureau, the percentage of people age 25 and older with a bachelor’s degree or higher jumped from 29.9% to 36% between 2010 and 2019.
That means the nation has plenty of well-educated members of the workforce who are ready to put their skills to good use for your company. Moving your business to the US gives you access to this pool of talent so you can take your business to new heights.
It allows you to tap into an entirely new market.
One of the more common reasons people come to us with the question of, “can I start a business in the USA as a foreigner,” is because they want access to the amazing market that the country offers. With over 300 million potential consumers and an economy on the rise, The United States is an excellent market for businesses located outside of the country.
Many of them are especially prone to partnering with a company that’s based in the US because of the additional jobs you create. By relocating your operations, you could see tremendous opportunities for unprecedented growth.
The US offers increased financial security.
Compared to many other countries’ currencies, the American dollar is typically a very strong performer worldwide. So by basing your business in the States, you’ll have confidence knowing the profits you earn have a strong staying power.
Not only that, but you know that everything is kept in government-backed bank accounts that give you the ability to quickly transfer your money to basically anywhere you want.
Relocating your company isn’t overly complicated.
One of the biggest hurdles people who ask us, “can I start a business in the USA as a foreigner,” think they’ll run into is that the entire process will be too complex and difficult to navigate.
While it certainly helps to have some professional help, the US actually makes it relatively easy for non-residents to start a business. You don’t even need to have a green card to start it. Plus, various federal, state, and local incentives are offered to business owners to entice them to create their operations in or move them to their area.
Have you been asking yourself, “can I start a business in the USA as a foreigner”?
Then you are likely already at the stage of this process where it’ll pay to partner with the experts here at Accountants Without Borders. Based out of San Diego, CA, our team develops customized business tax solutions in and outside of the USA. From tax planning to consulting and creating tailored tax strategies, we have the expertise needed to ensure your finances are perfectly taken care of before starting an American-based new business. You can learn more about the services we offer, or send us a message online to set up your initial consultation.
