New Federal Requirement: Starting January 1, 2024, most business entities in the US will need to report Beneficial Ownership Information.
Good day everyone. I am planning to start an online retail business targeting US-based customers. But the situation is I am not a US citizen and I live outside US. My target customers would be US Americans and I am also looking to have my product done by a manufacturer in the US. I am planning to have everything done online, technically, there will be no office or headquarters for my business. Just my good old laptop and strong internet connection. My questions are:
-Do I have to register my business in the US? Or do I register it in the country where I am currently residing? Note that my product will be made in the US and will be shipped to my potential customers in the US.
-If in case I have to register it in the US, what are the necessary licenses and permits I need to apply for? I have read that these vary according to state.
Additional info: I am also not a citizen of the country where I am currently residing. I’m an expat in short.
Your answers would be greatly appreciated. Please feel free to share your knowledge if you’re on the same boat as I am. Thank you.
Mirage,
In your case it might be a good idea to have your company registered in the U.S., which is not a problem if you are not a resident or citizen of the United States.
Depending on which state you register in, you may need a state sales/use tax (reseller’s permit) to charge your customers sales tax. We have a research article titled ‘U.S. Companies for Foreigners‘, which will compare the different entity types and top recommended states, and guide you to the proper applications where you could form a U.S. company.
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