A widespread and universal form of business in the United States is the Corporation. This form of enterprise is suitable for those who plan to attract investment, open accounts in the US (personal, investment and corporate), receive an official salary and then obtain a long-term visa with the prospect of obtaining permanent resident status (Green Card), and after 5 years – a status of a citizen. The corporation is suitable for medium and large companies, as well as for companies with many shareholders.
The following advantages of C-Corporations can be distinguished:
• limited liability (personal assets of shareholders are protected when it comes to liability for business debts and actions of the corporation);
• the ability to generate capital (raising funds through the sale of shares);
• corporations report taxes separately from their owners. The owners of the corporation pay only taxes on corporate profits received in the form of wages, bonuses and dividends;
• attracting potential employees (corporations attract highly qualified employees because they offer competitive advantages and the possibility of partial ownership through stock options).
However, there are potential disadvantages of C-Corporations:
• expensive and time-consuming enterprises for start-up and operation;
• double taxation (corporations are taxed twice - when the company makes a profit and when dividends are paid to its shareholders);
• a lot of reporting documents (corporations are largely regulated by federal, state and in some cases local agencies, there is a large number of documents related to this type of organization).
Yaremchuk & Partners Legal Consulting Group, in cooperation with an American partner law firm, will provide you with the legal advice on the potential registration of your business in the United States, prepare a package of necessary documents, and assist in the process of registration of a legal entity in the United States.