Who is eligible to apply to the Amplify Platform? Small to midsize businesses targeting U.S. or European markets are ideal candidates. Amplify supports these companies, providing expertise and tailored guidance for successful expansion in these regions.
FAQs
From the start, know that a branch isn’t an independent legal entity; it reports all operations and profits to its overseas parent company. To establish a branch in the USA, you must understand the specific regulatory conditions. Your U.S. branch can operate as a corporation, adhering to the laws of the state you choose for registration, business, and taxes. 2023, branch incorporation begins with the Business Division of the Secretary of State in your chosen state.
After submitting your parent company’s Articles of Association, you must fill out additional forms and pay the required fees. These documents should include details about your new U.S. office and your registered agent, who must be a state resident. Delaware is a popular choice due to its favorable tax benefits for foreign entrepreneurs.
Amplify empowers entrepreneurs and companies to capitalize on US opportunities. We aim to help launch or expand businesses in this limitless market. We offer vital guidance for establishing a US enterprise, ensuring compliance, and navigating procedural complexities.
Absolutely, a foreign company can own either a U.S. LLC or corporation. The US permits foreign entities to create and possess businesses within its borders.
For LLCs, generally, no foreign ownership restrictions apply. The LLC can have multiple members, including individuals, corporations, or other LLCs. Foreign entities can solely or partially own a US LLC.
Certainly, in the case of an LLC, your foreign company can serve as the “managing member” rather than an individual. If you opt for a corporation, you can designate individual “directors” during registration. Note that directors don’t own the corporation; it’s the shareholders who do. Therefore, your foreign company can own 100% of a US corporation.
Foreign companies can own US corporations through stock shares. US and state regulations may require licenses or approvals for foreign ownership. Note that rules, reporting, and taxes can vary by state, business type, and owner nationality.
To incorporate in the U.S., you typically need a U.S. address for state registration and permits. This address is crucial for receiving official correspondence and obtaining licenses. You can use a residential, business, or registered agent’s address. A registered agent receives legal documents for your business. Some states allow a registered agent’s address as your official business location, while others require a physical address. State-specific rules apply, so consult Amplify for precise timelines.
Amplify can assist in obtaining an EIN (Employer Identification Number). The process of obtaining an EIN, particularly when directors or owners are non-US citizens, may take up to six weeks. If you do not have a social security number (SSN), there are additional paperwork requirements. For more information, please contact Amplify.
Welcome to our guide on obtaining an Employer Identification Number (EIN) with Amplify’s assistance. We understand the importance of this process and are here to streamline it for you.
The EIN Acquisition Process
When it comes to obtaining an EIN, efficiency is key. Here’s how Amplify can help:
1. Expert Guidance
Amplify offers expert guidance throughout the EIN application process, ensuring accuracy and speed.
2. Quick Processing
We expedite the EIN acquisition, but keep in mind that it may still take up to six weeks.
3. Non-US Citizens
If you are a non-US citizen, rest assured that we specialize in assisting individuals like you.
Paperwork Requirements
Understanding the paperwork is essential.
If you don’t have a Social Security Number (SSN), there are additional paperwork requirements, which we can help you navigate.
Frequently Asked Questions (FAQs)
Here are some common questions:
Q1: How long does it typically take to obtain an EIN?
A1: Obtaining an EIN may take up to six weeks.
Q2: What if I am a non-US citizen?
A2: We specialize in assisting non-US citizens in obtaining an EIN.
Q3: What paperwork do I need if I lack an SSN?
A3: If you still need an SSN, there are additional paperwork requirements that we can guide you through.
If you have more questions or need further assistance, please don’t hesitate to contact Amplify. We are here to help you with the EIN acquisition process.
Unlocking the Path to a Business Checking Account
Looking to manage your business finances efficiently? A Business Checking Account is the solution you need. Discover how to open one today.
Why a Business Checking Account?
Wondering why you should have a dedicated business account? Let’s explore its benefits.
Amplify cannot assist with banking or business account opening.
Visit Your Preferred Bank
To kickstart the process, visit your preferred bank.
Required Documentation
Ensure a smooth application by preparing the following documents:
- A valid identification document like a driver’s license or passport.
- Copies of your articles of incorporation.
- Your company’s Employer Identification Number (EIN).
Frequently Asked Questions
1. What is a Business Checking Account?
A Business Checking Account is a specialized bank account designed for business transactions.
2. Why do I need one for my business?
Separating your personal and business finances is crucial for financial clarity and compliance.
3. Can Amplify help with this process?
Unfortunately, Amplify does not offer assistance with banking or account opening.
In Summary
Opening a Business Checking Account is a pivotal step in managing your business finances effectively.
Take the initiative to visit your preferred bank with the required documentation, and you’ll be on your way to financial success.
The typical processing times for incorporating a company vary by jurisdiction and type of business entity. In the United States, for example, it can take anywhere from a few hours to several weeks. Online filing usually speeds up the process. Some states offer expedited services for an additional fee. It’s advisable to consult local regulations and possibly seek legal guidance for specific timelines. Please get in touch with Amplify.
The H-1B visa lets U.S. employers temporarily hire foreign workers for specialized roles. This visa addresses the shortage of skilled professionals in areas like engineering, IT, and finance. To be eligible, the job offered must demand a bachelor’s degree in a specific field. The U.S. employer must sponsor the foreign worker and show a genuine need for their expertise. Moreover, the worker should have a relevant bachelor’s degree or work experience equivalence. Employers also need an approved Labor Condition Application from the Department of Labor.
The visa has a set limit each year. Currently, there are 65,000 visas, with an additional 20,000 for those holding U.S. advanced degrees. If applications exceed this cap, a lottery determines which ones get processed. H-1B visa holders can stay in the U.S. for three years and can extend it to six years. Some even stay longer if they meet certain conditions, such as initiating the green card process. They can bring their spouse and children under 21 on the H-4 dependent visa. H-4 holders can study, but there are limitations on working. Finally, H-1B visa holders can pursue a green card without jeopardizing their current status.
Here are some key points about the H-1B visa:
Eligibility:
To qualify for an H-1B visa, an individual must satisfy specific criteria. The U.S. employer must offer a position in fields such as engineering, IT, finance, or medicine that requires at least a bachelor’s degree or its equivalent in a particular field. Additionally, the employer has to submit an H-1B petition for the foreign worker and demonstrate a genuine need for the worker’s specialized skills and knowledge. Foreign workers should have at least a bachelor’s degree or its equivalent in a related field, but in some instances, relevant work experience can stand in for formal education. Furthermore, the employer must secure a Labor Condition Application (LCA) approval from the U.S. Department of Labor to ensure the foreign worker’s salary meets industry standards and their employment won’t negatively affect similarly positioned U.S. workers.
Quota and Lottery System:
The H-1B visa carries an annual limit, capping the visas issued each fiscal year. Right now, they set the regular cap at 65,000 visas, and they reserve an extra 20,000 visas for those with advanced degrees from U.S. universities. If H-1B petitions surpass this cap, a lottery system picks the petitions for processing randomly.
Duration of Stay:
H-1B visa holders can stay in the United States for three years initially. They can extend this duration to a maximum of six years. In specific circumstances, like when the foreign worker starts a green card application, they might qualify for exceptions and extensions beyond the six-year mark.
Dependents:
H-1B visa holders can bring their spouses and unmarried children under 21 to the U.S. on H-4 dependent visas. H-4 visa holders are allowed to study in the U.S. but generally cannot work, although there are certain exceptions.
Dual Intent:
H-1B visa holders can maintain dual intent, meaning they can pursue permanent residency (a green card) while on the H-1B visa without jeopardizing their non-immigrant status.
The H-1B visa program is subject to various regulations and requirements, and the application process can be complex. Employers are required to comply with specific labor and immigration laws.
The L-1 visa is a non-immigrant visa category that allows multinational companies to transfer certain employees from their foreign offices to their U.S.-based offices. It temporarily facilitates the transfer of key personnel, executives, and specialized knowledge employees to work in the United States.
The L-1 visa has two subcategories:
- L-1A Visa: This category is for executives and managers within the company. To qualify, the employee must have been working in a managerial or executive role for at least one continuous year within the three years preceding the application. The L-1A visa initially grants a maximum stay of three years in the United States, with the possibility of extending it up to a total of seven years.
- L-1B Visa: This category is for employees with specialized knowledge. Specialized knowledge refers to proprietary knowledge of the company’s products, services, research, equipment, techniques, or processes. The employee must have worked in this specialized role for at least one continuous year within the three years preceding the application. The L-1B visa initially grants a maximum stay of three years, with the possibility of extending it up to five years.
To qualify for an L-1 visa, the following requirements must be met:
- Qualifying Relationship: The U.S. and foreign companies must have a qualifying relationship, which means the U.S. office must be a parent company, branch, subsidiary, or affiliate of the foreign company. Both companies must be actively conducting business.
- Employment with the Foreign Company: The employee must have been employed with the foreign company for at least one continuous year within the past three years.
- Position and Job Duties: The employee must be transferred to the United States to work in an executive, managerial, or specialized knowledge capacity.
- Intent to Return: The employee must intend to return to the foreign company after completing the temporary assignment in the United States.
The L-1 visa offers several benefits, including:
- Dual Intent: L-1 visa holders can maintain dual intent, meaning they can pursue a permanent residency (a green card) while on the L-1 visa without jeopardizing their non-immigrant status.
- Spouse and Dependents: L-1 visa holders’ spouses and unmarried children under 21 years old are eligible for L-2 visas, allowing them to accompany the primary visa holder to the United States. Spouses can also apply for employment authorization to work in the U.S.
- Extensions and Permanent Residency: L-1 visa holders can request extensions to their stay in the United States. The L-1 visa can also serve as a stepping stone for permanent residency through employment-based immigration avenues.
It’s important to note that the L-1 visa application process can be complex, and specific documentation is required to demonstrate the qualifying relationship, employee qualifications, and job duties.
The United States government instituted the EB-5 Immigrant Investor Program, often termed the EB-5 Job Creation Visa. This program encourages foreign nationals to make substantial investments in new commercial endeavors in the U.S., with the objective of promoting employment for U.S. workers. In return for their investment, these foreign nationals can obtain permanent residency, commonly referred to as a green card.
Requirement for a New Commercial Enterprise: An investor must invest in a new commercial enterprise. The investor should establish this enterprise as a for-profit business entity after November 29, 1990. If the investor established it on or before this date, they must restructure or reorganize it to qualify it as a new commercial enterprise
After the two-year conditional period, the investor can apply for the removal of the conditions on their permanent residency. They must provide evidence that they have met all the EB-5 program requirements, including job creation. If successful, the investor and their family will be granted permanent residency in the United States.
One must recognize that the EB-5 program operates under specific limitations and regulations, making its application process intricate. Consequently, many investors engage immigration attorneys or consultancies proficient in the EB-5 program to guide them through the procedure effectively
