Which route fits me: part of a corporate group or not?
If a company holds the shares, such as your company at home, your corporation is part of a corporate group. It then also needs documents from your parent company: the Share Subscription Agreement and its resolutions. If you hold the shares yourself, alone or with co-founders, it is not part of a group.
Who can be a Director or Officer?
Any individual, of any nationality, even without residence in Florida or the US. A director doesn't have to be a shareholder. Because directors must be individuals, in a group structure a person from your parent company sits on the board, not the company itself. A director must be at least 18 years old, and one person can hold every office at once, including as sole director and sole shareholder.
How much share capital is required?
There is no share capital requirement, and Florida sets no minimum capital. In the Articles of Incorporation you decide how many shares the corporation may issue and whether they have a par value. The board of directors decides what is paid in for the shares.
Do I have to travel to the USA?
Not for the formation; everything is done remotely. You only travel to Austin for the optional introduction at a traditional US bank. With Credit Builder, you travel to the USA once for the bank appointment.
Here's how it works.
How long does it take?
Florida processes formations in the order received and gives no fixed timeframe. Once the corporation is formed, the EIN, BE-13 and account application follow step by step.
What do we need for identity verification (KYC)?
For the formation: the names of the Directors (we enter our address as the mailing address) and the details of the shares; in a group, also the details of your parent company and its representatives. For Mercury: the formation documents, the IRS letter confirming the EIN and your passport; Mercury may also ask for proof of address. For euro account details, Wise requires photo ID of the owners and proof of the company's address.
What does it cost from the second year?
The annual package: $2,400 a year without a group, $2,900 a year within a group. Plus state fees at cost: in Florida, that's your corporation's annual report, $150, due between January 1 and May 1. Bookkeeping, year-end accounts and tax returns are only added if you book them.
Do I really need resolutions and minutes?
Yes. They are your corporation's memory, and anyone who does business with you, lends to you or buys from you will want to see them. We keep them from day one.
Why they matter.
Can your corporation get a US bank account if you live in Europe?
According to Mercury, it accepts applications from founders without US citizenship or US residence if the company is formed in the US, operates or plans to operate there and provides a real business address (no Registered Agent address, no P.O. box). We file the application with you once the documents and EIN are in place; Mercury decides on the account. On top of that, euro account details through Wise and, if you travel to Austin, an introduction at a traditional US bank. More under
US banking.
Can my company send employees to its US company?
That's what the L-1 is for, and it's the preferred route: your company transfers someone who has worked for it full time for at least one continuous year in the three years before the application, in a managerial role or with specialized knowledge. For a new US office, business premises must be secured, and the first approval is valid for one year at most. Which route suits whom is set out in writing in the visa roadmap for $2,000, prepared with the immigration attorney on the firm's team, who also files the petitions.
What does the corporation mean for my taxes and my company at home?
That depends on your situation, and that's exactly what the $2,000 tax plan is for: in writing and coordinated with your accountant at home. A Florida corporation pays 5.5 percent corporate income tax on its Florida profits above $50,000 and files a Florida tax return every year, even when no tax is due. US federal taxes apply as well, and for a parent company, the taxes of its home country.
How do I build a credit history in the USA?
With two connected histories: yours and your company's. The strongest business cards also check your personal credit history. That's why we build both. For you:
ITIN Express included, a US bank account, a US residential address with a phone line and our guidance to your first credit card; on-time payments on cards that report to the credit bureaus can help build a credit history. For your company: the D-U-N-S number, the Mercury IO card, whose payments Mercury says it reports to Experian, Equifax and Dun & Bradstreet (Mercury decides on the card), and a second business card that reports to the bureaus. We stay with you until your company has its own credit.
All about Credit Builder.