3p3.pdf

Module 3: Setting Up Your Business

Manual 3: Outside USA Selling to USA

Contents:

Overview

Things

Consider

a Business

Entity

in the

a Business

Entity

a Seller

' s Permit

a US

Mailing

Address

a US

Bank

Account

a US

- B ased

Phone

Number

a US

- B ased

Credit

Debit

Card

Overview

This document will assist you in deciding whether or not it is necessary for you to set up a US business

entity. This document also outlines the steps required for setting up a US business entity for those that

decide to do so.

Things to Consider

Regardless of where you are located in the world, it is probably a good idea to register a business for

yourself with your local government. Even if you end up creating a business entity in the USA as well, it

still makes sense to have a business entity in your own country. Not only will it probably be necessary for

your income reporting, but it may be all that is needed to work with suppliers. There's a very good chance

that you will not have to have a US business entity to work with US suppliers. Many US suppliers will work

with businesses that are registered and located outside or the US, and some US suppliers don't require

Setting

Forming

Getting

you to have a business entity at all. The below outlined steps for setting up a business entity in the US

should only be used if you are finding it impossible to source products without doing so.

Setting up a Business Entity in the US

Although setting up a business in the United States (from outside of the US) may sound intimidating, it

really isn't very complicated. The following will outline exactly what you need to do in order to get set up

as a US business entity.

Keep in mind that NONE of this is absolutely required. As a foreign business entity, you can work with

most suppliers that are located outside of the US and ship globally. You may also find that potential US

suppliers for your niche may not require a US business entity or sellers permit in order to establish an

account with them. However, doing these steps will increase the pool of suppliers that are available for

you to work with. This is why we do feel that it is in your best interest to get a US business set up if you

plan to work with suppliers that are located inside of the US.

There are dozens of solutions on the web to help you get a business set up here in the United States, but

there was no way for us to do advanced research on every single one of them. We have found that

MyUSCompany is a great resource for helping foreigners get set up here in the US. You are welcome to

shop around and compare prices, but the rest of this guide is based on using MyUSCompany to set up

your US business.

MyUSCompany assists foreigners in establishing a business in the US state of Delaware. This is the

chosen state for a couple good reasons. For starters, Delaware does not have a state-level sales tax. So

when you make sales within the US using a Delaware-based business entity, there is no need to collect

sales tax. The state of Delaware is also “foreign business friendly” and quite easy to establish a business

with.

To become a true US business and open up virtually all US dropship suppliers to yourself, you should get

the following:

● A business entity

● A seller's permit

● A US mailing address

● A US bank account

● A US based phone number

● A US based credit or debit card

from MyUSCompany assists you in getting all of this and walks you through the

entire process. Let's now review each topic to learn the benefits and costs involved with each.

kit

Forming a Business Entity

Setting up a business entity in the USA not only gives you more protection as a seller, but it will also help

you look more professional in the eyes of potential suppliers. The business

set

kit

from

The business

set

MyUSCompany will help you decide whether you should establish an LLC or a Corporation. Both

solutions are good, but they are taxed a little bit differently. Click the link below to learn more about each:

b iztaxlaw

. a bout

. com

/ o d

/ businessorganizationforms

/ f / faq

_ v s

_ c orp

. htm

The set up fee for an LLC is $90 and the set up fee for a corporation is $89. This is the fee paid to the

state of Delaware for processing your business application.

Many suppliers will ask you for an EIN (Employer Identification Number). Once you have become a

Delaware business entity, getting an EIN only takes about ten minutes and can be done online.

MyUSCompany will show you how to do this.

It is Delaware state law that all businesses have a registered agent. With the purchase of the business

set up kit, MyUSCompany will be your agent at no cost for the first year, but each year after that, there

will be a $65 fee if you choose to continue to use them as your registered agent. You can choose to use a

registered agent elsewhere if you would like.

Getting a Seller's Permit

Once you own the business set up kit from MyUSCompany and have established a business entity, your

registered agent can assist you in obtaining a seller's permit at your request. There is no fee involved in

getting a seller's permit, but you are required to have a Delaware mailing address to do so (this is

discussed directly below).

Getting a US Mailing Address

Your MyUSCompany agent will show you how to get a US mailing address as part of their service.

MyUSCompany does not charge for this service, but the service offering US mailing addresses does.

Standard US mailing addresses start at $23 per year. Please note that you should specifically request a

Delaware mailing address if you intend to get a Delaware Seller's Permit.

Getting a US Bank Account

MyUSCompany will provide instructions on how a non-US resident can set up a US bank account for free.

Setting up a bank account in the US is fairly simple, and usually the only thing that is required is a valid

passport id and a $100 initial deposit. You are not required to have a social security number in order to

get set up with a US bank account.

Getting a US-Based Phone Number

MyUSCompany will assist you in setting up a US phone number, which includes voice mail, at no cost to

you.

http

: //

Getting a US-Based Credit or Debit Card

If you have a US based bank account, there really is no reason to get a credit card. You can get a Visa or

MasterCard debit card with your bank account at little or no cost. Suppliers can bill this type of debit card

the exact same way they bill a credit card. A debit card should be sufficient in virtually every situation.

Disclaimer. We are not affiliated with any bank, government, accounting, or professional institution. This

report was written to provide information regarding the subject matter. It is believed to be accurate but not

infallible. It is given with the understanding that the author is not engaged in rendering legal, accounting,

or other professional services. If legal assistance is required, the services of a competent professional

should be sought. We assume no liability or responsibility for errors or omissions. The author shall not be

liable to the purchaser for liability, loss or damage caused or alleged to have been cause directly or

indirectly by this report.

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