Are you planning on opening an office in the United States? Well, it is a good plan as America has retained its position of being the largest economy in the World since 1871. Last year, it has the largest GDP, about $7 trillion followed by China. When it comes to the ease of doing business, the US ranks at number 8 in the world and 53 for ease of doing and starting a new business respectively. The infographic below from Foothold America explains all the expects of expanding your business to the US from the overseas. There are many things that you must consider like there are three routes, Branch Office, Subsidiary, and Co-employment. The infographic explains all the steps and routes you can take to expand your business.
Types of Visa
Moreover, it also explains the different visa types that you may need. Because every person who does not have an American passport or a Green card needs to get a visa for work in the USA. A visa waiver program is also available for some countries. Anyhow, a visa is required to do any kind of work, event management or consultancy for a short period. It can cost between $5500 and $10000. There are four major categories of visa, namely — O visa, H1B visa, L1 visa, E2 visa. It depends on the situation of your visit that which category is for a person.
Opening a Bank Account for your Business
After that, you need to open a bank account in the USA. Moreover, it also explains about the taxation system in the USA. If you are going to do business in the USA, then you need to pay different types of taxes to the federal state or at the local level. There are two main types of basic income tax which is around 21% and employer taxes such as Medicare tax and Social Security tax which is 6.2% and 1.45% respectively.