The United States is said to be a land of opportunity.It is if full of well-established industries. All that makes it easy for a beginner who wishes to start a business in the US. Once you plan to start a business in the US, you must first analyze the kind of business you can start. You must also plan about the finance that is needed, funds if available and loans. You must be determined and must make up your mind in such a way that you never give up. You must also be determined to work hard.
You can also start a business in US even if you not located in the US. However, non-immigrant entrepreneurs who wish to start a business in the U.S. have issues related to their visa category. Though it is easy to start a business in the US, the task gets complicated if you attempt to start a business when you are abroad. Non-immigrants believe that, by starting a small business, they can earn their living and also support the community. Many foreign nationals holding L-1 and E-2 visas own businesses in the US and acquire non-immigrant visas through their businesses in the U.S.
Related Article: The Ultimate Guide: B1 Visa
L1 visa holders
L1 visas are issued to foreign nationals who already have a business outside the US and who seek an expansion in the US. While applying for the L1 visa, the applicant is required to include documents showing the proposed office in the US, for the business. Initially L1 visa for the new office is approved for one year by the USCIS. Once the USCIS finds that the branch is successful, the L1 visa may be extended for another year. The US office has to be a parent or sister company of the foreign company.
E2 visa
In order to get an E-2 visa, an individual is required to do a research and compose a successful small business plan. It must also show that they will support a new and gainful business in the United States. You can always check with the latest technology, before you write a business plan. The E2 visa applicant must be a foreign national who is from a country which has signed a Treaty of Friendship, Commerce and Navigation, with the US. The E2 visa is approved for a period of two years and it can be renewed.It is not necessary to be a citizen or a permanent resident to start a small business in the United States. These business opportunities also allow you to live in the United States if you are qualified for an L-1 or E-2 visa.
The investor is required to invest a substantial amount of money in the business that has been proposed. The US government has not set a limit in the amount of money that must be invested but its necessary to invest an amount of money that will be enough so that the business will succeed. The investor is also required to show that the money is actively utilized in the business. The new business must not only improve the economy of the investor’s family but it must also improve the local economy. You can best start your business with a capital of at least $50,000.
E-2 and L-1 visas allow a foreign national to reside in the United States, but the individual must also keep a residence outside of the United States. L1 and E2 visas are only applicable to the individual. The applicant’s spouse and dependents will not be allowed to stay or work in the United States.You can also start your own company while you are on the H1B visa, you will be eligible to set up a Limited Liability Company (LLC). Though you start your own company, you can’ work for it. In order to work for the company that you start, you are required to possess a H1B visa issued by that company. You can engage a CEO for your company who is a Green card holder or a US citizen.
Steps to start your business in the U.S.
- You must plan and define your business.
- You should be aware of the credit that is available or loans for your business.
- It is mandatory to register a business name with the State Government.
- Find a location to establish your business, according to your business proposal.
- Permit and license for the business must be obtained.
- You are required to apply for a Tax identification number and open a business bank account.
- Get assistance or business training.
- Find a legal structure for your business, such as LLC, sole proprietorship, nonprofit,
partnership, corporation, etc - You must be know your responsibilities as an employer.
Before starting your business you must be ready to take risks and must be careful in studying your chosen market for business.
