SET UP YOUR BUSINESS IN
USA, STATE OF DELAWARE
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A US Tax Exempt State for Non-US Residents
With a land area of only 1,982 square miles (5,133 sq. km), State of Delaware ranks 49th in land area among the 50 states. Delaware is the fourth least populated state with 706,000 residents. Two-thirds of the State’s population resides in New Castle County, the northernmost of the State’s three counties.
Delaware actively seeks and encourages enterprise and investment. To this end, Delaware has evolved the most modern and flexible business organization laws in the United States, has adopted modern banking and consumer credit laws and has reduced personal income taxes and established a nationwide reputation for innovative tax structure.
Forms of most frequent Entities
- Independent legal and tax structures separate from their owners.
- Help separate your personal assets from your business debts.
- No limit to the number of shareholders.
- Taxed on corporate profits and shareholder dividends.
- Must hold annual meetings and record meeting minutes.
Limited Liability Companies (LLCs)
- Independent legal structures separate from their owners.
- Help separate your personal assets from your business debts.
- Taxed similarly to a sole proprietorship (if one owner) or a partnership (if multiple owners).
- No limit to the number of owners.
- Not required to hold annual meetings or record minutes.
- Governed by operating agreements.
Most importantly Delaware has:
- No Sales Tax.
- No Personal Property Tax.
- No Intangible Property Tax.
Delaware law does not require that the name of any member of the LLC be disclosed in the certificate of formation. Some states require the publication of the names of all members.
Unlike other states, single member LLCs are permitted.
The creation of your LLC may be your only contact with Delaware. Delaware does not require you to have any meetings in the state nor are you ever required to visit Delaware.
A Delaware operating agreement may contain provisions which deny voting rights to some members and may also exculpate members and managers from personal liability and may permit indemnification.
Delaware permits maximum flexibility in drafting operating agreements. Companies may be managed by its members or by a manager.
Delaware does not impose any income tax on LLC’s which do not transact business in Delaware. Additionally, Delaware does not impose either an income tax or inheritance tax upon members who are not Delaware residents.
Delaware permits terms in the operating agreement which will exculpate managers, members, agent and employees from personal liability for management of the company and permits indemnification of those persons by the company.
Unlike other states, no minimum capital is required.
Neither members nor managers need be US citizens. Units of ownership may be owned by individuals, corporations or any other business entity existing under either US or foreign law.
There are no limits on the type of legal business which a company may transact.
Delaware Tax Advantages
(a) Members are not US citizens or resident in USA;
(b) The company does not sell – generate profits in USA;
It will be a 100% tax exempted company, excellent for your worldwide trading.
Pls note that, nevertheless, and keeping the tax exemption statute, you can always use your LLC to buy any products from the USA.
The minimum requirement to set up a LLC is just One Member and One Manager – same entity can simultaneously take both charges. Both individuals and corporations can be appointed to act as Members and Managers of your LLC. This means that one sole person (you), can be simultaneously the Member and the Manager of the company. No secretary required.
We can incorporate your US LLC at any US State; however, for a general guidance, I will send you the Delaware report.
A Tax Haven for Non-US Residents
People in the U.S. are familiar with Delaware as the home to most large US companies. But many people don’t realize that the U.S. has become one of the world’s most attractive jurisdictions for non-U.S. citizens. The reason is the Delaware Limited Liability Company (LLC).
The LLC is a unique type of company. Similar to a European “limited company”, it is in some ways a corporation and in others a limited partnership. A Delaware LLC is totally disregarded for income tax purposes by US tax authorities.
A Delaware LLC pays only one “tax”: the $350 per year Delaware franchise tax.
An LLC’s profits “pass through” to the individual owner. For Americans who file a personal US tax return, these profits are added to their ordinary income and taxed at the individual rate. The advantage for non-Americans who do not file a U.S. tax return is that the LLC’s profits pass through to LLC’s owner, but the income is not taxed by the U.S. Of course, if you feel it is necessary to report the LLC’s income in your home country, you are able to do so. However, ownership in a Delaware LLC is completely private and is never disclosed, not even to the state of Delaware.
For many types of businesses, incorporating in the owner’s home state or country makes sense. An internet business is different. Because your storefront is accessible to people all over the world, there is no fixed location where you are “doing business”. You may live in New Jersey. But, your website is hosted in California, your bank is in New York and your customers are all over the world.
When you incorporate in Delaware, you protect your status as a borderless company. You pay no Delaware because you do not operate in Delaware. You are simply registered there. You are not liable for corporate taxes in your home state because you are not registered there as “doing business”. Your corporation pays only Federal income taxes or, in the case of a Delaware LLC, no income taxes at all.
With a Delaware corporation or LLC, your business address can be anywhere in the world, or nowhere at all. The state of Delaware does not require your address. It also isn’t interested in the names and addresses of your company’s shareholders, officers or directors. The only address that we require is a shipping address where we can send your company documents and subsequent franchise tax notices. Our address becomes your company’s “registered office” in Delaware, and we forward to you all official correspondence relating to your business.
How you can benefit by Forming a Tax-Free U.S. Company
The US LLC
By forming and using a U.S. LLC in conjunction with an offshore company, you can combine the best of both the onshore and offshore worlds. A carefully LLC will enable you to avoid the increased scrutiny of offshore companies and gain the acceptability of a U.S. company with the tax advantages of an offshore company.
How does it work?
Once established, you do business with your U.S. company counterpart by receiving invoices from and making payments to the U.S. Company. The U.S. LLC, in turn, deposits the funds in its bank account. The money is transferred to your offshore company’s bank account. You can then spend or invest the money tax free.
Eurofinanzza specializes in the formation of U.S. companies for use in international tax planning strategies.
We have implemented our unique approaches for helping foreign companies achieve tax advantages for the past 7 years.
Our services include all of the necessary elements to form your U.S. LLC and maximize your success by creating a “believable image” that will avoid the scrutiny of tax authorities.
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