WEBVTT
00:00:00.160 --> 00:00:05.120
Setting up a USLLC as a non-resident, let me walk you through exactly how it works.
00:00:05.280 --> 00:00:09.839
Most people overcomplicate this, and it's actually quite straightforward when you know the steps.
00:00:09.919 --> 00:00:17.039
And I'm going to break it all down for you the right state, how to get your EIN fast, what it costs, and how to stay fully compliant.
00:00:17.199 --> 00:00:18.000
No fluff.
00:00:18.160 --> 00:00:20.079
Step number one is picking your state.
00:00:20.239 --> 00:00:22.559
Now, not all states are created equal.
00:00:22.640 --> 00:00:26.320
And like you've seen on this channel with Dubai setups as well, nothing is the same.
00:00:26.480 --> 00:00:31.039
Now, as a foreigner, you really only need to look at a few different options.
00:00:31.120 --> 00:00:33.920
And I would say Wyoming, Delaware, and New Mexico.
00:00:34.079 --> 00:00:36.640
Wyoming is the sweet spot, in my opinion.
00:00:36.799 --> 00:00:39.520
This is the optimal solution for most people.
00:00:39.679 --> 00:00:43.439
Low annual fees, strong privacy, and zero state income tax.
00:00:43.600 --> 00:00:45.679
Your name doesn't show up on any public records.
00:00:45.759 --> 00:00:48.399
It's clean, it's simple, and it's a good option.
00:00:48.560 --> 00:00:51.280
And we prefer this here at Gen Zone for most of our clients.
00:00:51.439 --> 00:00:52.399
Of course, it will vary.
00:00:52.560 --> 00:00:53.759
Book a call with us to learn more.
00:00:53.840 --> 00:00:59.520
Now, Delaware is a go-to if you're a startup that's planning to you know build and raise funds down the road.
00:00:59.679 --> 00:01:04.400
Not to say that a Wyoming company can't do this, but it also carries more corporate prestige.
00:01:04.480 --> 00:01:07.680
But you're gonna pay a little bit more for this type of setup.
00:01:07.840 --> 00:01:13.519
Now, for most online entrepreneurs and e-commerce sellers, I will say that Wyoming is your best bet.
00:01:13.680 --> 00:01:17.280
Low cost, low maintenance, widely accepted, and private.
00:01:17.519 --> 00:01:20.640
Now, step number two is to choose your registered agent.
00:01:20.799 --> 00:01:23.519
Every USLLC needs a registered agent.
00:01:23.680 --> 00:01:33.120
Essentially, what this is and means it's a person has a physical US address, and all the correspondence and documents will be going to this address on paper at least.
00:01:33.280 --> 00:01:36.000
As a non-resident, this isn't optional.
00:01:36.159 --> 00:01:39.599
You have to have a registered agent, unless, of course, you live in the United States.
00:01:39.760 --> 00:01:52.879
Now, a good registered agent will keep your documents private off public records and will make sure that we never miss an important deadline for you, important mail, and that your company stays totally compliant.
00:01:53.040 --> 00:01:55.359
I say we because we do this for our clients here at Gen Zone.
00:01:55.439 --> 00:01:56.480
Now, this is very important.
00:01:56.640 --> 00:02:03.200
Step number three is getting your EIN number fast because this EIN is where most people get stuck.
00:02:03.280 --> 00:02:07.920
I have people messaging me all the time saying, Kevin, I want to do LLC, I don't want to pay X amount of money.
00:02:08.000 --> 00:02:11.680
And I tell them, listen, if you don't want to pay this, good luck with your EIN, it's gonna take a long time.
00:02:11.759 --> 00:02:15.599
Now, think about this EIN as the social security number of your company.
00:02:15.759 --> 00:02:18.800
You need it to open your bank accounts and file your taxes.
00:02:18.960 --> 00:02:27.120
Now, here's the problem the standard route is mailing that document directly to the IRS, which can take anywhere from around two to four months, sometimes even longer.
00:02:27.280 --> 00:02:29.199
Now, here's where we change this for our clients.
00:02:29.280 --> 00:02:36.479
We get this done significantly quicker and we get your EIN issued typically within five working days, even or less in some cases.
00:02:36.639 --> 00:02:40.560
Now, it could even take a little bit longer, but we are very consistent with our timelines.
00:02:40.719 --> 00:02:43.360
We get the same result at a fraction of the wait.
00:02:43.520 --> 00:02:45.520
Step number four, you need to understand the costs.
00:02:45.599 --> 00:02:51.599
Of course, there will be a ton of different costs online, but here at Gen Zone, at this time in this video, press might go up later, we're not sure.
00:02:51.680 --> 00:02:58.479
But we charge a thousand US dollars to set up your Wyoming LLC, submit all of your documents, and get your EIN for you as well.
00:02:58.639 --> 00:03:01.039
This makes sure that everything gets done in record time.
00:03:01.199 --> 00:03:13.039
You don't have to wait weeks and weeks and even months, like all of these people right here that message us complaining about their previous service provider that's a big company that wasn't able to actually give them what they paid for.
00:03:13.120 --> 00:03:21.919
And the best part is inside of our own ecosystem, we can help you with accounting, we can help you with banking, compliance, everything you need can be done in-house at Gen Zone.
00:03:22.000 --> 00:03:25.039
You don't have to go and figure out how to do this here or there or there.
00:03:25.199 --> 00:03:30.560
And down the line, if you're also looking to set up another company in another country, we specialize in this.
00:03:30.719 --> 00:03:36.560
Specifically in Dubai, we are experts at setting up companies in Dubai and even in other jurisdictions.
00:03:36.719 --> 00:03:38.639
Everything you need is under one roof.
00:03:38.719 --> 00:03:42.960
And as a Gen Zone client, you unlock preferential pricing for all of our services.
00:03:43.120 --> 00:03:47.280
Now, step number five is understanding the taxes, what you actually need to know.
00:03:47.360 --> 00:03:58.719
Now, the good news is if you're a non-resident with a single member LLC in Wyoming, Delaware, or even New Mexico, your LLC is what we call a pass-through entity.
00:03:58.960 --> 00:04:06.000
That means that you don't have to pay any federal income tax in the United States, and of course, no state income tax either.
00:04:06.159 --> 00:04:10.159
You'll pay taxes based on where you live personally.
00:04:10.319 --> 00:04:13.840
So you'll pay taxes in the location where you reside.
00:04:14.080 --> 00:04:15.120
But that's it.
00:04:15.280 --> 00:04:17.519
You don't have to do anything on the US side.
00:04:17.600 --> 00:04:25.120
However, you still need to file two forms with the IRS every year: Form 5472 and a pro form 1120.
00:04:25.279 --> 00:04:28.399
These are mandatory even if you made zero dollars.
00:04:28.639 --> 00:04:32.480
Miss them, and you're looking at a$25,000 penalty.
00:04:32.639 --> 00:04:33.920
So don't forget about this.
00:04:34.000 --> 00:04:37.040
We'll make sure that you are compliant if you work with us here at GenZone.
00:04:37.120 --> 00:04:40.240
Now, step number six, opening your US bank account.
00:04:40.399 --> 00:04:51.519
Once your US LLC is set up and your EIN is in your hands, you can now go ahead and set up a US bank account, and you can do this remotely with Mercury, Relay, AirLix wallet.
00:04:51.600 --> 00:04:56.160
There's so many other platforms, WISE, etc., that you can get set up for your business.
00:04:56.319 --> 00:05:01.839
These platforms connect seamlessly with major platforms like Amazon, Shopify, and Stripe, of course.
00:05:02.079 --> 00:05:04.480
And this is exactly what you need to know.
00:05:04.639 --> 00:05:12.000
This gives you a full picture if you want to get it done quickly, correctly, and without months of waiting and back and forth with the IRS.
00:05:12.160 --> 00:05:14.319
Genzone handles the entire process for you.
00:05:14.480 --> 00:05:21.360
We've set up over a thousand companies established around the world, and we have flawless five star reviews to show for it as well.
00:05:21.519 --> 00:05:28.480
If you want to learn more, book a free consultation today and let's get you started with your USLLC now in the right way.
00:00:00.160 --> 00:00:05.120
Setting up a USLLC as a non-resident, let me walk you through exactly how it works.
00:00:05.280 --> 00:00:09.839
Most people overcomplicate this, and it's actually quite straightforward when you know the steps.
00:00:09.919 --> 00:00:17.039
And I'm going to break it all down for you the right state, how to get your EIN fast, what it costs, and how to stay fully compliant.
00:00:17.199 --> 00:00:18.000
No fluff.
00:00:18.160 --> 00:00:20.079
Step number one is picking your state.
00:00:20.239 --> 00:00:22.559
Now, not all states are created equal.
00:00:22.640 --> 00:00:26.320
And like you've seen on this channel with Dubai setups as well, nothing is the same.
00:00:26.480 --> 00:00:31.039
Now, as a foreigner, you really only need to look at a few different options.
00:00:31.120 --> 00:00:33.920
And I would say Wyoming, Delaware, and New Mexico.
00:00:34.079 --> 00:00:36.640
Wyoming is the sweet spot, in my opinion.
00:00:36.799 --> 00:00:39.520
This is the optimal solution for most people.
00:00:39.679 --> 00:00:43.439
Low annual fees, strong privacy, and zero state income tax.
00:00:43.600 --> 00:00:45.679
Your name doesn't show up on any public records.
00:00:45.759 --> 00:00:48.399
It's clean, it's simple, and it's a good option.
00:00:48.560 --> 00:00:51.280
And we prefer this here at Gen Zone for most of our clients.
00:00:51.439 --> 00:00:52.399
Of course, it will vary.
00:00:52.560 --> 00:00:53.759
Book a call with us to learn more.
00:00:53.840 --> 00:00:59.520
Now, Delaware is a go-to if you're a startup that's planning to you know build and raise funds down the road.
00:00:59.679 --> 00:01:04.400
Not to say that a Wyoming company can't do this, but it also carries more corporate prestige.
00:01:04.480 --> 00:01:07.680
But you're gonna pay a little bit more for this type of setup.
00:01:07.840 --> 00:01:13.519
Now, for most online entrepreneurs and e-commerce sellers, I will say that Wyoming is your best bet.
00:01:13.680 --> 00:01:17.280
Low cost, low maintenance, widely accepted, and private.
00:01:17.519 --> 00:01:20.640
Now, step number two is to choose your registered agent.
00:01:20.799 --> 00:01:23.519
Every USLLC needs a registered agent.
00:01:23.680 --> 00:01:33.120
Essentially, what this is and means it's a person has a physical US address, and all the correspondence and documents will be going to this address on paper at least.
00:01:33.280 --> 00:01:36.000
As a non-resident, this isn't optional.
00:01:36.159 --> 00:01:39.599
You have to have a registered agent, unless, of course, you live in the United States.
00:01:39.760 --> 00:01:52.879
Now, a good registered agent will keep your documents private off public records and will make sure that we never miss an important deadline for you, important mail, and that your company stays totally compliant.
00:01:53.040 --> 00:01:55.359
I say we because we do this for our clients here at Gen Zone.
00:01:55.439 --> 00:01:56.480
Now, this is very important.
00:01:56.640 --> 00:02:03.200
Step number three is getting your EIN number fast because this EIN is where most people get stuck.
00:02:03.280 --> 00:02:07.920
I have people messaging me all the time saying, Kevin, I want to do LLC, I don't want to pay X amount of money.
00:02:08.000 --> 00:02:11.680
And I tell them, listen, if you don't want to pay this, good luck with your EIN, it's gonna take a long time.
00:02:11.759 --> 00:02:15.599
Now, think about this EIN as the social security number of your company.
00:02:15.759 --> 00:02:18.800
You need it to open your bank accounts and file your taxes.
00:02:18.960 --> 00:02:27.120
Now, here's the problem the standard route is mailing that document directly to the IRS, which can take anywhere from around two to four months, sometimes even longer.
00:02:27.280 --> 00:02:29.199
Now, here's where we change this for our clients.
00:02:29.280 --> 00:02:36.479
We get this done significantly quicker and we get your EIN issued typically within five working days, even or less in some cases.
00:02:36.639 --> 00:02:40.560
Now, it could even take a little bit longer, but we are very consistent with our timelines.
00:02:40.719 --> 00:02:43.360
We get the same result at a fraction of the wait.
00:02:43.520 --> 00:02:45.520
Step number four, you need to understand the costs.
00:02:45.599 --> 00:02:51.599
Of course, there will be a ton of different costs online, but here at Gen Zone, at this time in this video, press might go up later, we're not sure.
00:02:51.680 --> 00:02:58.479
But we charge a thousand US dollars to set up your Wyoming LLC, submit all of your documents, and get your EIN for you as well.
00:02:58.639 --> 00:03:01.039
This makes sure that everything gets done in record time.
00:03:01.199 --> 00:03:13.039
You don't have to wait weeks and weeks and even months, like all of these people right here that message us complaining about their previous service provider that's a big company that wasn't able to actually give them what they paid for.
00:03:13.120 --> 00:03:21.919
And the best part is inside of our own ecosystem, we can help you with accounting, we can help you with banking, compliance, everything you need can be done in-house at Gen Zone.
00:03:22.000 --> 00:03:25.039
You don't have to go and figure out how to do this here or there or there.
00:03:25.199 --> 00:03:30.560
And down the line, if you're also looking to set up another company in another country, we specialize in this.
00:03:30.719 --> 00:03:36.560
Specifically in Dubai, we are experts at setting up companies in Dubai and even in other jurisdictions.
00:03:36.719 --> 00:03:38.639
Everything you need is under one roof.
00:03:38.719 --> 00:03:42.960
And as a Gen Zone client, you unlock preferential pricing for all of our services.
00:03:43.120 --> 00:03:47.280
Now, step number five is understanding the taxes, what you actually need to know.
00:03:47.360 --> 00:03:58.719
Now, the good news is if you're a non-resident with a single member LLC in Wyoming, Delaware, or even New Mexico, your LLC is what we call a pass-through entity.
00:03:58.960 --> 00:04:06.000
That means that you don't have to pay any federal income tax in the United States, and of course, no state income tax either.
00:04:06.159 --> 00:04:10.159
You'll pay taxes based on where you live personally.
00:04:10.319 --> 00:04:13.840
So you'll pay taxes in the location where you reside.
00:04:14.080 --> 00:04:15.120
But that's it.
00:04:15.280 --> 00:04:17.519
You don't have to do anything on the US side.
00:04:17.600 --> 00:04:25.120
However, you still need to file two forms with the IRS every year: Form 5472 and a pro form 1120.
00:04:25.279 --> 00:04:28.399
These are mandatory even if you made zero dollars.
00:04:28.639 --> 00:04:32.480
Miss them, and you're looking at a$25,000 penalty.
00:04:32.639 --> 00:04:33.920
So don't forget about this.
00:04:34.000 --> 00:04:37.040
We'll make sure that you are compliant if you work with us here at GenZone.
00:04:37.120 --> 00:04:40.240
Now, step number six, opening your US bank account.
00:04:40.399 --> 00:04:51.519
Once your US LLC is set up and your EIN is in your hands, you can now go ahead and set up a US bank account, and you can do this remotely with Mercury, Relay, AirLix wallet.
00:04:51.600 --> 00:04:56.160
There's so many other platforms, WISE, etc., that you can get set up for your business.
00:04:56.319 --> 00:05:01.839
These platforms connect seamlessly with major platforms like Amazon, Shopify, and Stripe, of course.
00:05:02.079 --> 00:05:04.480
And this is exactly what you need to know.
00:05:04.639 --> 00:05:12.000
This gives you a full picture if you want to get it done quickly, correctly, and without months of waiting and back and forth with the IRS.
00:05:12.160 --> 00:05:14.319
Genzone handles the entire process for you.
00:05:14.480 --> 00:05:21.360
We've set up over a thousand companies established around the world, and we have flawless five star reviews to show for it as well.
00:05:21.519 --> 00:05:28.480
If you want to learn more, book a free consultation today and let's get you started with your USLLC now in the right way.
