Whenever we mention the United States to anyone, the most common thing we hear is how the US is a treasure of opportunities and how everyone aims to move there to create their success stories.
Now, what if we tell you that you can benefit from the opportunities in the US? Doesn’t this intrigue you?
You can now open an offshore business in one of the most renowned high-potential areas, Delaware. It doesn’t matter if you wish to build a food processing company or an important/export business; you are all set to go. Moving forward in this post, we will dig into the details of the process of starting an offshore company in Delaware.
All That You Need to Start an Offshore Business in The US.
Starting an offshore company in Delaware is similar to any enterprise you build in your own hometown. The only distinction would be the difference of country. In order to have a smooth experience while moving your business offshore to Delaware, here are some key pointers to remember:
- Study your new market thoroughly. This practice will help you understand the needs of your target audience, and your business will be able to provide better services and products to the market.
- Gather ample capital. To ensure that your business has a firm basis established, have enough funds and resources beforehand. The golden rule is to have adequate capital to aid your business for at least a year before it becomes self-sustaining.
- Follow the correct procedure. You need to register your enterprise in the US before fully initiate your business activities. Your registration should be in line with the legal laws. Note that you might need to fulfill additional requirements laid out by departments like Food and Drugs Administration (FDA) and Occupational Safety Health Administration (OSHA).
Let’s guide you through the primary steps of getting yourself registered as a Delaware offshore company.
Name Your Enterprise
Once you are certain about your decision to incorporate your offshore business in Delaware, the foremost task is to give a name to your company. The name of your company holds exceptional significance as it provides a unique identity to your enterprise.
Note that the name should include ‘limited liability company’ and shouldn’t have terms like state department, treasury or FBI as these words might lead to confusion with state or federal organizations in Delaware.
File Your Limited Liability Company with The State of Delaware
In order to commence operations smoothly, you need to file your Limited Liability Company documents with the state of Delaware. These documents include various necessary filings, one of which is the Articles of Organization. This is also commonly known as Certificate of Formation, which lays out the basic structure of your enterprise.
Generate an LLC Operating Agreement
In order to avoid any future misunderstandings or disputes, it is essential to have all the shareholders and team members on the same page. This is ensured by this legal agreement that defines the ownership and operating procedures of the Limited Liability Company.
Acquire an Employer Identification Number
Employer Identification Number is the tax ID for your company. Generating an EIN doesn’t require a Social Security Number. Even though the processing of EIN requires a Social Security Number, you can receive it through an alternate procedure. As a non-resident, you can fill, sign and fax Form SS-4 Application for EIN.
Open a Bank Account and Secure a Physical US Mailing Address
As the last step of this process, you need to have a physical mailing address in the US. To get one, you can open an office in Delaware. This physical address is essential in opening a bank account.
The pointers mentioned above sum up the procedure to open an offshore company in Delaware. However, the process can be lengthy and challenging for some investors. Thus, it is wise to involve an agency of experts to assist you throughout the journey of starting an enterprise in Delaware. The experts won’t only help you in documentation and registration but will also make sure you benefit from the opportunities in the USA and avail advantages of facilities like Inland Container Depot (ICD), government incentives, and bilateral trade agreements with other nations.