A great objective would be to accumulate capital until your investments generate more income for you than you earn from your work, the so-called passive income. This is not easy! But if you get it, you can start retiring from your regular job and spend your time managing these assets.
LLCs are one of the most popular corporate forms in the country, since they combine the limited liability of its members against business obligations with advantageous tax conditions and simplicity in administrative procedures. All this without mentioning that the owners of the LLC may not reside in the United States.
Advantages of creating a business in the US
If you have the idea of doing business with partners or companies located in the USA, the best option will be to install your own company in the country. And, although we insist on denying it, owning an American firm is a great letter of introduction that will open more doors than if it were located elsewhere.
Let’s see, then, what are the advantages of opening an LLC in the United States:
- Access to one of the largest consumer markets in the world.
- Very simple constitution. Less paperwork is required than for a Corporation (equivalent to the Public Limited Company). If you want information to establish an LLC click here.
- Non-US members are not required to pay taxes as long as they do not do business in the country. Not doing business means, for example, not having any physical establishment.
- No obligation to present audited annual accounts if, equally, no business is done in the country.
- A company domiciled in the United States inspires more confidence than one located in a tax haven.
- Access to the US banking system. Many commercial transactions are made through US banks, so owning a company and bank account in the country can save several operating costs.
The case of Florida
If you have to highlight a particularly attractive place to undertake in the United States, that would be Florida and, especially, the city of Miami. However, we must not forget the states of Nevada and Delaware, also very popular to establish companies for their tax advantages for entrepreneurs.
In the case of Florida, its main claims are the possibility of creating a company in just a few days and its lower tax burden. At this point, it is necessary to refer to the tax system in the United States, which, among others, can be federal (equal throughout the country) or state (each state establishes its own). Well, Florida is one of the few states in the country that does not charge the so-called income tax, a federal tax that would come to be like the IRPF of Spain. Apart from these two benefits of undertaking in Florida, it should be noted that, for example, in Miami most of its inhabitants speak Spanish so, although English is so important in the business world, it would not be so indispensable. In addition, this southern city is considered the ‘Gate of the Americas’, that is, it serves as access to both the US and Latin American markets.