Best LLC Services for Non-US Residents in 2024
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Frequently Asked Questions
What is an LLC?
What are the tax implications for non-residents LLC?
LLC benefits
An LLC offers business owners the simplicity of a general partnership in terms of formalities and taxes, yet with the personal protection and shield against company debts and liabilities of a corporation. Otherwise, you could be held personally responsible for the mistakes your business might make.
Another huge benefit of forming an LLC is its flexibility. You get to choose whether you want to be managed as a partnership (member-managed LLC) or as a corporation (manager-managed LLC) with all the formalities, such as having a board of directors and annual meetings. You can also turn your LLC into a corporation down the road if the business takes that direction.
Why use an online formation service to form an LLC?
Online LLC formation services offer a fast and cost-effective solution to forming a business. These filing services and industry experts offer all the services you would need to launch your business, such as preparation and filing of LLCs and corporations, business licenses, legal documents, compliance, US address and registered agent services, all in one place, for an affordable price.
Do you need help starting an LLC? With online LLC filing services forming your business is a quick, straightforward, and smooth process. Forming your LLC and launching your business is no longer a complicated, lengthy, and expensive process when you leave it to these industry professionals to do the work for you. The top services also offer very knowledgeable chat support.
Professional services can also help you expedite your LLC registration. If it’s important for you to start your business fast and with minimal effort, TailorBrands offers expedited filing including banking a US address and a US business bank account.
How to start an LLC in 3 simple steps
Starting your LLC is super easy and fast when using a trusted professional formation service. Once you’ve selected a filing service, complete the following 3 steps:
- Fill in your company name and address
- Designate a registered agent
- Pay for the filing service (and possible add-ons such as Operating Agreement, expedited filing service, etc…) + state fees
Domestic LLC vs. Foreign LLC
A domestic LLC means you file in your state of residence and you do business mainly in that state. This is the most common and cost-effective scenario. A foreign LLC is used when you have filed papers in one state and you have a physical facility or storefront in another state.
In order to do business in that second state, you need to file a foreign LLC. Foreign LLCs tend to cost more and require a registered agent. Conversely, if you file for an LLC in another state for some reason, and you do business in your home state, you will have to file a foreign LLC in your home state in order to do business there.
What is BOIR for business?
As of 2024, U.S. new and existing businesses need to submit the ‘Beneficial Ownership Information Report’ (BOIR) to FinCEN. These reports include personal information about significant people involved in the company, including the entity, its beneficial owners, and in some cases its company applicants. The top LLC filing services listed on our chart can support you with the BOIR requirement.
Delaware LLC
Over 50% of U.S. publicly traded corporations are incorporated in Delaware and many LLCs are filed there as well. Delaware, known as a tax haven and holds a reputation as the most business-friendly state in the U.S, is a very popular choice because it does not tax out-of-state income, it has low filing fees and it has a special Chancery Court that handles business matters.
That being said, there is still the matter of an extra state’s filing fees and hiring a registered agent. There are more advantages for corporations to file in Delaware than LLCs, but it depends on your particular situation. Remember the domestic vs foreign LLC requirements as you will be paying fees in both states if you do not reside in Delaware. The LLC Annual state fee in Delaware (DE) is $300 (every year). State filing fee in Delaware (DE) is $100.