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Are you thinking of moving to the United States and starting a business? Even if you don’t have family ties in the U.S., you can still legally form a company there and become a successful entrepreneur. So read on for tips and advice as you plan your next move, shared by NewsParq.
Apply for a Visa
Non-U.S. citizens can live and work in the United States as long as they apply to become lawful permanent residents and obtain a green card. A green card will allow them to legally reside in the country and seek employment. However, obtaining a permanent resident card can take years, and you may not meet the requirements if you don’t have a U.S. relative or employer to sponsor your application. So if you’re planning on investing in a new or existing U.S. business, think about applying for an E-B5 Immigrant visa or an E-2 Investor visa, depending on how long you and your family are considering residing on U.S. soil.
Choose a Business Structure
You can avoid double taxation and add credibility to your new business by forming an LLC. This structure will also allow you to safeguard your personal assets against debts and litigation. Since every U.S. state has its own set of rules and regulations regarding business formation, make sure to check the requirements in the state you’re planning on starting your limited liability company. You could lose your good standing status and be unable to get funding if you fail to file the proper documentation, if you miss deadlines, or if you don’t pay the required fees and taxes. So work with an online formation service and make sure to appoint a registered agent to stay in compliance and keep your business running.
Market Your Business with Social Media, Business Cards, and More
Your business plan should include marketing strategies that you can financially afford to implement right from the start. So focus on a few channels where you’re sure to reach your target market. Social media is a great marketing tool for small businesses as it is fairly inexpensive compared to traditional advertising. It’s also dynamic rather than static and lets you interact with customers, helping you gain brand recognition and dedicated followers. It’s also a good idea to print business cards you can physically hand out to potential clients, especially if your foreign name is difficult for English speakers to remember and spell out. So before you go out and start networking in real life, this site could be helpful for designing a business card that leaves a positive impression on future customers. By using pre-made templates, you’ll have a great-looking business card in no time.
Language barriers can sometimes lead to miscommunication. If you want to be an effective leader, make sure your team members, partners, vendors, and clients clearly understand what you’re telling them, and in turn, if they’re using idioms and jargon you’re not familiar with, do not hesitate to ask for clarification. Putting things down in writing may be a good idea to solidify plans of action and get everyone on the same page. And when you’re dealing with legal documents, hiring a freelance translator through Fiverr.com or an interpreter who specializes in law-related issues before you sign on the dotted line could prevent costly misunderstandings from happening in the first place.
Many successful U.S. businesses are owned by foreign nationals. If you want to join their ranks, obtain a visa, come up with a solid business plan, and start marketing your new venture. Business cards are still an effective tool to grow your network, so make sure you have a few in your pocket as you meet new people!