Choose Florida to start your business
More and more entrepreneurs choose Florida and more particularly Orlando to develop their business.
Setting up a business in the United States is not something you can improvise, you have to weigh the pros and cons and take an interest in the potential tax optimization that could result from it.
Fact! The decision to set up in America has been made, you are now hesitating as to the choice of the state in which you will set up your company.
As many choices as there are states!
Your choice is between two states: Florida or Delaware.
In both cases, Florida and Delaware offer zero income tax.
However, these two states have many differences. To know:
1- If you choose Florida to locate your business then you will benefit from a physical address for your offices which will allow you to open a bank account locally much more easily and quickly
2- Having your company in Florida means benefiting from the notoriety of this state and its good image. Delaware suffers from the image of a tax haven that is associated with it. Read here: Why you should avoid Delaware.
3- It is true that the cost of creating a company in Florida is higher than a company in Delaware, but this difference is that of banking and fiscal tranquility!
Do not hesitate to contact us to validate that Florida is the right place for your business needs.
Your final choice is to start your business in Florida
Why Florida, why Orlando
In the USA, Florida is known to be one of the favorite destinations for Europeans and Quebecers.
The main reason is the time difference. Indeed, there is only 6 hours time difference with Europe which is very advantageous to do business with European companies. One should also not neglect the daily flights between the USA and Europe.
If expatriates choose Florida, it is not by chance. Indeed, in general, the cost of living is much lower than in New York for example. Also, the economy as well as the tax rates are much more advantageous which offers more benefits for foreign entrepreneurs.
Finally, with rates of return much higher than other major U.S. cities, Florida is the ideal place to start a business.
Studying the American market
Before starting a business in the U.S., make sure you have done a preliminary study to validate the viability of your business. Many companies close after only a few months because they did not know the market.
If you prepare your installation and if you do your market research correctly you could quickly start generating very large profits. Indeed, the state of Florida is known to host some of the biggest American companies: Burger King, Disneyland, etc.
This is why early research is more than essential to the success of your business.
Choosing the LLC in Florida
Once the idea is found and studied, it is time to choose the legal structure and to start the administrative steps to incorporate your company. The most common legal form used by expatriates is the LLC. (See the article on LLC).
The LLC is the quickest and easiest form of incorporation in the US to create a company. This type of structure is the ideal choice for start-ups and medium-sized companies.
It should be noted that Florida has one of the lowest taxes in the United States, which makes it the ideal place to do business.
Taxes in Florida
There is no state income tax in Florida. There is only a 5.5% sales tax.
If you are not resident in the USA and you have an LLC, this type of company is tax transparent (it is not the company that is taxed but its partners).
This is why this destination is favored by entrepreneurs but not only, retirees also come to enjoy the sun and the tax advantages of living in Florida.
Florida, an excellent asset for your business
Florida has an excellent reputation in the business world. Although the income tax is zero and the rest of the taxes are low, the state of Florida is not on any of the OECD’s risk lists. It is therefore possible to manage your company from the USA or from abroad.
If you are ready to take the plunge, our firm offers its assistance for the creation and administrative follow-up of your company in the USA. We are registered as a Registered Agent and can therefore represent your company on American soil with the American authorities.
In the eyes of the law, we are your legal representative.
But not only that, in addition to this Registered Agent mandate, we can also take care of your company’s accounting in order to comply with American standards.
Contact our Orlando office at email@example.com .