Is there something similar to a Ltd company in the US?

[Burba]

Hi all

Quick question on starting a small business in the US:

is it possible to set up a small business, something along the lines of a small UK Limited company (like in the UK), in the US?

are there any resources that I can read up on? i haven't the faintest clue about small operations in the US... and options open to them.

It would be for a one man band, with initally small turnover (<$50k).
Also, can you register your business address at an Accountants like you can here?

Many thanks for all your help

Burb

[Trooper2]

Hi Burba, here is a link to the Small Business Administration Website:
(might as well dive right into the Bureaucracy)

http://www.sba.gov/

Here is a Wiki link explaining who they are and what they do:

http://en.wikipedia.org/wiki/Small_Business_Admini...

Hope this gets you off to a good start.

I believe ErnestM owns his own business, if he sees this thread he'll be a good resource for answering questions.

[Burba]

thanks Trooper... been reading a little bit myself and found I can set up an LLC even as a non-US citizen - which is exactly what i need!

I think I just need to understand a little more about what exactly you have to do during hte year for a US business - in the lines of filing account, taxes, etc

[Trooper2]

Here is a link to the Internal Revenue Service Website:

http://www.irs.gov/

..and a Wiki link to types of businesses if they will help:

http://en.wikipedia.org/wiki/Business

(the links at the bottom may be usefull)


(sounds like you've figured out that an LLC will work for you)

Edited by Trooper2 on Tuesday 4th September 13:07

[Burba]

Indeed, looking at setting up a local one-man band style freelance consultant approach - with sole controlling rights given to me. Gives me the ability to bid for US work really and move between UK and US easily.

[Matt Harper]

I would suggest that you tread really carefully here, as there are lots of potental bear traps. LLC might be your best route, but does still expose you personally if things go piss-shaped down the line.
A 'C-Corp' incorporated organization would give you more personal protection, flexibility in reporting and administration and can (I believe) be run from abroad - but there are conditions.
Bear in mind that a $50,000 investment is not usually enough to warrant an E1/E2 visa, so using your business as a vehicle to US immigration would be very shaky. USCIS look for investments that create jobs and contribute to the local economy. They are (rightly) opposed to business plans that either just support the livlihood of the owner - or suck money out of the economy (i.e. internet-based trading from abroad). Incorporating an obviously 'foreign' business that doesn't employ US citizens and exports revenues to another country won't fly, either as an LLC or Inc.
If immigration is your longer-term aim, run the business in your country of citizenship (I'm assuming UK) for a minimum of one year, write an extensive US business plan, employ someone to maintain your UK operation and transfer yourself to the new US subsidiary on an L1 visa.
I may be mis-informed, but I think that your business enterprise must offer some trade-off to make it acceptible to the Federal authorities.
Finally, you can most certainly appoint an agent, such as an attorney or even a CPA to oversee your affairs here, but make damn sure that your choice of representative is on the straight and level. I know of several British entrepeneurs who have been fleeced by their American 'partners'.
I hope your venture works for you - but, as I said, nothing is straightforward here, business-wise. If it was easy, everyone would do it, because the opportunities, if only based on the sheer size of the market, are quite enormous. Good luck.