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As the global business landscape continues to evolve, the United States remains a top destination for entrepreneurs and investors looking to establish a presence. Regardless of your level or business type whether you are a small, medium, or large company or even a freelancer like myself, opening a Limited Liability Company (LLC) in the US as a foreigner has become an attractive option due to its benefits in terms of liability protection, and credibility. In this comprehensive guide, we’ll explore the best services available for foreigners seeking to open a US LLC, ensuring a smooth and successful process.
Understanding the Importance of a US LLC for Foreigners
Before delving into the best services, it’s essential to grasp the advantages of establishing a US LLC as a foreign entrepreneur. A US LLC offers limited liability protection, separating personal assets from business liabilities, upping your business from an unregistered, sole proprietorship to a registered limited liability company which comes off as more professional to existing and prospective clients, opening more doors of opportunities, one of which is access to accounts like PayPal, Stripe, and even actual US bank accounts in your business name. This is of immense benefit and importance to any level of entrepreneur. Additionally, it enables access to the US market with a huge potential to scale your business significantly, fostering credibility and giving you all the necessary tools and support to handle your business proceedings legitimately. Moreover, the flexibility to choose between pass-through taxation or corporate taxation adds to the appeal of forming an LLC.
Now that we’ve established the importance and perks of having a limited liability company set up as a foreigner in the United States of America, let’s get into it …
TOP SERVICES FOR FOREIGNERS OPENING A US LLC
1. LegalZoom
In 2001, LegalZoom was founded and quickly established itself as a tech company dedicated to making legal help accessible to all as a prominent player in the business formation industry, as a Nigerian, I particularly like that they care for Nigerians and it’s displayed on their website (pardon my bias, but then again their services are open to all non-us entrepreneurs)
LegalZoom offers a wide range of legal services including legal advice and of course comprehensive LLC formation services for foreigners. With a user-friendly platform, they guide you through the necessary steps, including document preparation, filing with the appropriate state authorities, and compliance assistance.
Pros
:
- Established and well-known service in the industry.
- User-friendly platform with a range of package options.
- Offers additional legal services beyond LLC formation.
Cons:
- Can be relatively more expensive compared to other options.
- Some reviews suggest occasional customer service issues.
Pricing:
LegalZoom offers LLC formation packages ranging from approximately $79 to $349, depending on the features and services included in the package.
2. Incfile
Incfile is known for its affordability and efficiency in assisting foreigners with US LLC formation they claim to be “the only formation service offering truly free business formation”, of course, that’s a bit of an overstatement as there is no such service in existence considering the fact that some of the fees you pay go in full to the IRS, but their claims are technically true as they have plans that cost $0 if you don’t factor in state fees. Incfile provides a range of packages, including features like registered agent services, compliance alerts, and document preparation, tailored to your specific needs.
Pros:
- Affordability with a free basic package (plus state fees).
- Variety of packages to suit different needs.
- Positive customer reviews for ease of use and value.
Cons:
- Some additional features may come at an extra cost.
- Upsells during the checkout process might be overwhelming for some users.
PRICING:
Incfile’s LLC formation packages start at around $0 (plus state fees) for basic services. More comprehensive packages with additional features can range from $149 to $299.
3. MyCorporation
MyCorporation specializes in providing personalized solutions for foreigners looking to establish a US LLC. They offer services such as name availability checks, document filing, and ongoing compliance support, ensuring a smooth process from start to finish.
Pros:
- Personalized solutions with various package options.
- Positive reputation for customer service and support.
- Provides ongoing compliance support beyond LLC formation.
Cons:
- Costs can vary based on the selected package and additional features.
- May not be the most budget-friendly option for basic needs.
PRICING:
MyCorporation’s pricing can vary based on the package you choose. Their basic LLC formation package starts at around $99, while their premium packages with additional features may cost up to $299 or more.
4. Tailor Brands
If this blog post was organized in ascending order, Tailor Brands would very easily take the top spot. They are probably the most recognizable name on this list, Tailor Brands leverages its expertise in branding and design to provide a unique perspective on LLC formation. While not as traditional as some other services, their approach is user-friendly and streamlined. They aim to simplify the process while offering the essential features necessary for forming an LLC.
Tailor Brands is known for its user-friendly interface and visually appealing design, which extends to its LLC formation service. Users can expect a smooth and intuitive process, especially if they are already familiar with Tailor Brands’ platform.
Pros:
- Streamlined and visually appealing user experience.
- Integration of LLC formation with branding and design services.
Cons:
- Limited customization options compared to more traditional LLC formation services.
- May not provide the same level of legal expertise as dedicated LLC formation platforms.
PRICING:
Tailor Brands pricing could cost you anywhere from $49 plus state fees for LLC formation only to $249 plus state fees
5. Rocket Lawyer
Rocket Lawyer combines legal expertise with technology, offering foreigners an online platform to create and manage their US LLC. Their services include customizable legal documents, legal advice from professionals, and ongoing compliance assistance.
Pros:
- Combines legal expertise with technology.
- Offers a wide range of legal documents and services beyond LLC formation.
- The subscription-based model provides ongoing access to legal resources.
Cons:
- Membership fees may not be cost-effective for those solely interested in LLC formation.
- Some users might find the platform’s complexity overwhelming.
PRICING:
Rocket Lawyer’s membership starts at around $39.99 per month and includes access to legal documents, consultation with attorneys, and assistance with legal matters, including LLC formation.
Factors to Consider When Choosing a Service
It is very important to do a lot more research before deciding whether or not to pull the trigger on registering your business in a country like the US, keep in mind that there might be yearly recurring fees to pay depending on several factors such as the level of business registration you go for, the state you choose and lots more, so again do a fair bit of research, and if possible seek legal advice.
As far as choosing one of the above-mentioned options, some factors to consider include:
1. Cost: Compare the pricing structures of different services to ensure they align with your budget.
2. Features: Assess the features included in each service package, such as registered agent services, document preparation, and ongoing compliance support.
3. Customer Reviews: Look for feedback from other foreign entrepreneurs to gauge the quality and reliability of the service.
4. Customer Support: Prompt and knowledgeable customer support can make the LLC formation process smoother and less stressful.
Conclusion
Establishing a US LLC as a foreign entrepreneur opens up a world of opportunities for growth and success. With the assistance of reputable service providers like LegalZoom, Incfile, MyCorporation, Tailor Brands, and Rocket Lawyer, navigating the legal and administrative aspects of LLC formation becomes more manageable.
Remember that the right choice for you depends on your specific needs, preferences, and budget. Reviews and experiences can vary widely, so it’s a good idea to research each service further, read recent user reviews, and consider what features are most important to you in the LLC formation process.
Here’s to your successful venture in the dynamic landscape of business!
