CHECKLIST FOR THE INCORPORATION OF C-CORP IN USA:-
1-Why US C-CORP?
United States Corporation (US C CORP) Has Got 1st Priority Around The World. Any person residing outside the United States and willing to make a company in the United States can make it any form of Sole Proprietorship, Partnership, Corporation and Limited Liability Company (LLC).
Corporation type of entity provides protection to its shareholders from company’s liability. Registration is done with state authorities and must abide by corporate laws in the state in which it is incorporated. Shareholders own it and Board of Directors governs the business and elected officers to manage day to day business.
2- Pre-Checklist:-
Things to be checked before Incorporation procedure:-
1. Name Search with USA government (Delaware State);
2. Name Reservation Fees;
3. USA Government State fees as per Delaware State. Minimum 2 Members in C-CORP;
4. EIN (Employer Identification No) / IRS NO;
5. Company Registration No;
6. Registration Office may be Virtual or Co-Working Community in United States
7. Time Period: – In this Amidst Period Of Covid-19 The Registration Process Usually Take 15-25 Days.
Note: – Extra Service tax on CPA fees & USA Govt Fees per Delaware State US A – INC – Corp Formation.
3- Advantages of US C-Corporation:-
1 Global Exposure: USA Corporate structure provides permanence and credibility even if it has only one stockholder and employee.
2 Continuity of existence: The life of a business is not affected by the status of shareholders and even after the death of the Shareholder; the USA Corporation company continues to exist.
The scope of Expansion is higher because easy to raise capital from a venture capitalist, angel investor, financial institutions and the advantage of limited liability. The private limited offers more transparency inside the company.
3 Brand Value & Credibility: Company’s brand value will get increased if you are registered in USA. because employees feel secure in joining the USA Based company, vendor feel secure in offering credit, investor feels secure in investing, customer feel trust and confidence in brand in buying company product / services because of a sound corporate structure.
4 Valuation and Customer: The valuation is an important aspect of the Company and high valuation comes from loyal customers
4 -Steps in Incorporation of USA C- Corporation:-
Step 1: There are two options by which you can register your business in the United States. One is Corporation(C Corp or S Corp) , and other is Limited Liability Company (LLC). You need to choose any one of them to register .INC (C- Corporation is recommended for Indians).
Step 2: Select the state in which Corporation needs to register. Some of the states are more business-friendly than others like Delaware, California, Nevada and Wyoming.
Step 3: Select a name of the company, Name chosen should be available.
Step 4: Appoint a registered agent having a physical address in the state of Formation. Its information is disclosed mandatorily in incorporation documents.
Step 5: Obtain Employer Identification Number (EIN) also known as Federal Tax Identification Number. This number is required to be obtained by Corporations and other categories of organizations. It is obtained by Internal Revenue Service (IRS). This service is free and can be applied online and offline.
Step 6: Payment Gateway:- Payment of Statutory Fees to US Delaware State through Stripe OR Brain-Tree.
Step 7: Once Company Certificate and EIN is Ready Opening of Account Current in any Bank is Mandatory.
5- List of Documents (Post Checklist):-
a-Two Members in US-C CORP
b. Scanned copy of Voter’s ID/Passport/Driver’s License/ Passport
c. Passport-sized photograph of all directors and Shareholders
d. Scanned Copy of Signature (signature should same as on PAN Card)
e. Office Address in USA(May be Physical/Co-Working/Virtual)
f. USA No / Can be Skype No.
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Very well explained