Expert tips, tools and resources for business owners wishing to open and mange their companies overseas and build a sustainable brand
DETAILED COMPANY ESTABLISHMENT PROCESS IN USA
100% foreign owned
US law allows foreign investors to own 100% of the capital of a US company.
Diverse market
Huge and diverse consumer market, with more than 340 million consumers.
Prestigious branding
Easy access to international markets, expanding brand and enhancing global position.
Easy and friendly business environment
Favorable business environment, developed capital market, modern and transparent US financial system and easy access to investment capital sources.
Tight intellectual property rights
The US legal system ensures strong and effective protection of intellectual property rights.
Outstanding tax incentives for newly established companies
Attractive tax policies and incentives for newly established companies, especially the 1-member LLC model, help save operating costs and tax costs.
High quality human resources
High quality human resources, meeting the recruitment needs of many companies.
2. Top 6 industries that companies should not ignore when doing business in the US
Below are 6 fields that are considered potential in the US in 2025:
Logics The logistics industry plays a pivotal role in the U.S. economy, serving supply chains for a wide range of industries. Demand for logistics services is expected to continue to grow due to the boom in e-commerce, globalization, and increasing supply chain complexity. The U.S. logistics market is estimated to reach 1,33 trillion USD by 2024 and is expected to reach USD 1,67 trillion by 2030, growing at a CAGR of 3,90% during the forecast period (2024-2030).
Retail business The United States has one of the largest retail markets in the world, and many of the world's leading retail companies are headquartered there. Total retail sales in the United States have grown significantly, from less than $3 trillion in 2000 to more than $7 trillion in 2022. This is an increase of more than $500 billion from the previous year, and is expected to continue to grow at a steady pace in the coming years, reaching about $7,9 trillion by 2026.
Technology and innovation The demand for new technology products and services is always high in the United States. With California’s Silicon Valley considered the world’s leading technology hub, attracting both established tech giants and growing startups such as Apple, Microsoft, Amazon, Google and Facebook. Cities such as Austin, Texas and Chicago are also thriving startup hubs.
E-commerce, Dropshipping Online marketplaces such as Amazon, eBay, Etsy, TikTok remain the leaders, capturing the majority of the online retail market. E-commerce accounts for a significant portion of total retail sales, reaching 15,9% in Q1 2024, up slightly from Q4 2023.
Financial Technology (Fintech) The Fintech market in the US is developing very positively and is expected to grow strongly in the coming years. One recent report shows that Fintech revenue will increase sixfold, from $6 billion to $245 trillion by 1,5. Fintech plays an important role, accounting for up to 2030% of the value of the global banking industry by 25.
Recycled energy Renewable energy in the US is growing strongly, the size of the US renewable energy market is estimated to reach 434,54 gigawatts by 2024 and is expected to reach 700,15 gigawatts by 2029, growing at a CAGR of 10,01% during the forecast period (2024-2029).
See list of articles by industry:
3. What are the conditions for establishing a company in the US?
Singapore company type
Choose the type of company that suits your business goals and ownership structure. Businesses can choose one of the following types of companies when setting up a company in the US:
- Traditional Joint Stock Company (C-Corporation);
- S-Corporation;
- Sole Proprietorships;
- Partnership;
- Limited Partnership (LP)
- Limited liability company (LLC).
| Corporation (C-Corporation) | LLC | |
| Common Points |
| |
|---|---|---|
| Basic Rules | No limit on number of shareholders. | No limit on number of members. |
| Annual report |
|
|
| Tax Policy (Important) | The company's income will be subject to Corporate Income Tax. Dividends withdrawn are subject to additional personal income tax. | Flexible in taxation, can pay tax as C-Corporation/ S-Corporation/ or as an individual. |
| Suitable Object | Suitable for businesses that want maximum protection and tight management processes. | Suitable for businesses that want maximum protection, flexible and simple corporate governance and tax procedures. |
State/State of incorporation
Each state in the US has its own business regulations, so a company needs to choose the state that is right for its business. Some factors to consider when choosing a state include: taxes, regulations, market, etc.
5 Popular States to Set Up a Company in the US: Delaware, Nevada, Wyoming, Texas, Florida.
Company name
Company names in the US must meet the following conditions:
- Must comply with the naming regulations of the chosen state.
- Need to be unique, memorable and relevant to the business industry.
- Check to see if the company name is already taken before registering.
- Announce the incorporation in newspapers in some states such as Colorado.
Minimum capital
Most states do not require a minimum capital to form a business, however some states may require a certain amount of capital to obtain a business license for certain types of businesses. Businesses need to have sufficient financial resources to cover the costs of starting and operating the company.
Local Agent
To form a company in the US, a US company needs to appoint a local agent (registered agent). The local registered agent must be an individual / entity residing in the state where the US company is established and is the official representative of the company.
Business license
US companies need to register for a business license appropriate to the business line and regulations of each state in which the company is established.
Federal Tax Identification Number (EIN)
EIN is a federal tax identification number issued by the Internal Revenue Service (IRS). EIN is used by companies in the US for tax purposes, opening corporate bank accounts, hiring employees, etc.
Worried about the procedures and legalities when establishing a company in the US?
GLA will answer all questions, helping the company make informed decisions.
4. US tax policy
Factors that cannot be ignored when establishing a business in the US
In addition to meeting the requirements for establishment, businesses in the US also have to deal with a complex tax system. Understanding the types of taxes that businesses must pay is a decisive factor for business efficiency and competitiveness.
Business taxes for businesses incorporated in the US| Tax Type | Details |
| Corporate income tax | Taxes on taxable income (or profits) of businesses in the US: federal and state corporate income tax for US companies is currently 21%. |
| Estimated Tax | Businesses are typically required to make estimated tax payments when they expect their tax liability for the year to exceed $500. |
| Self-Employment Tax (For Individuals Who Own a Business) | The self-employment tax rate is 15,3%, which includes:
|
| Employment tax | Employment taxes, or payroll taxes, include the following three taxes that business owners must pay for their employees:
|
| Special consumption tax | Taxes levied on specific goods such as alcohol, tobacco, gasoline, etc. |
Comparing US taxes with other countries has never been easier.
The US, Singapore, Hong Kong - three attractive destinations with different tax policies. Let's compare tax rates in the US, Singapore and Hong Kong, helping businesses have an overview and make appropriate choices.
Compare taxes in countries | # | Country | Continent | CIT (%)  | PIT (%) | Sales tax (%) | GDP per Capita (USD) | Rank by GDP per Capita |
| 1 |  Belize | Central America | 12800 | 134 | |||
| 2 |  British Virgin Islands | Central America | 0 | 34200 | 72 | ||
| 3 |  Canada | North America | 15 | 33 | 15 | 55800 | 34 |
| 4 |  Estonia | Europe | 20 | 20 | 22 | 42000 | 57 |
| 5 |  Hong Kong | Asia | 16.5 | 16 | 64400 | 24 | |
| 6 |  Ireland | Europe | 12.5 | 40 | 23 | 115600 | 4 |
| 7 |  Japan | Asia | 23.2 | 45 | 10 | 46300 | 51 |
| 8 |  Laos | Asia | 20 | 25 | 10 | 8400 | 153 |
| 9 |  Malaysia | Asia | 24 | 30 | 10 | 33600 | 73 |
| 10 |  Seychelles | Africa | 29500 | 78 | |||
| 11 |  Singapore | Asia | 17 | 24 | 9 | 127500 | 2 |
| 12 |  Thailand | Asia | 20 | 35 | 7 | 21100 | 99 |
| 13 |  United Arab Emirates | Asia | 9 | 5 | 75600 | 13 | |
| 14 |  United Kingdom | Europe | 25 | 45 | 20 | 54100 | 36 |
| 15 |  United States of America | North America | 21 | 37 | 73600 | 14 | |
| 16 |  Vietnam | Asia | 20 | 20 | 10 | 13700 | 130 |
Note: The above table data is for estimate and reference only. You should consult GLA tax consultants to update the most current instructions. 5. What are the difficulties for businesses when establishing a company in the US?
Although, establishing a company in the US brings many advantages to Enterprises, it also has its own challenges:
1
Laws are complex and vary between states and the federal government.
2
Business structures (LLC, C-Corp, etc.) are complex, with tax and legal implications
3
US taxes are complex, with strict filing requirements.
4
Fierce competition with many large enterprises and startups fighting for market share
5
Cultural differences
6
Visas for business owners and employees are complicated and time-consuming.
7
Opening a bank account is a major barrier for foreign companies.
Recommendations from experts
In addition to the need to establish a company in the US, Singapore and Hong Kong are two countries with optimal tax rates, quick company opening procedures, and the ability to open a variety of international bank accounts. Businesses contact GLA to receive advice from experts on the country that best suits their business.
6. Full service of establishing a company in the US with GLA experts
Choose the right type of business
Advice on choosing the appropriate type of state to establish
Register a suitable and unique business name
EIN Registration Support
Support open a corporate bank account in the US quickly and efficiently
Providing local agent services in the US
Compliance with corporate accounting taxes and legal regulations in the US
With GLA, your journey to establish a company in the US will become easier and smoother than ever!
7. Procedures and processes for establishing a company in the US
Step 1: Choose the type of company
Choosing the right type of company is the first and most important decision. Each type has its own advantages and disadvantages, affecting different legal responsibilities, taxes, and regulations.
Some common types of companies in the US include:
- Traditional Joint Stock Company (C-Corporation);
- S-Corporation;
- Sole Proprietorships;
- Partnership;
- Limited Partnership (LP);
- Limited liability company (LLC).
Step 2: Choose the state to form the company
Each state in the US has different regulations regarding company formation, taxes, and legal issues. Businesses should research the following factors before making a decision:
- Taxes: Each state has a different tax system, including income tax, corporate tax, property tax, sales tax. Some states have preferential tax policies for certain types of businesses.
- Regulations and Laws: States have different regulations regarding forming, operating, and dissolving businesses. This includes business registration, licensing, and other legal requirements.
- Costs: The costs of operating a business can vary from state to state, including labor costs, rent, insurance, and other expenses.
- Target Market: State location can affect a business's ability to reach its target market.
Businesses should consider choosing the following states when forming a company in the US: Delaware and Wyoming, California, Florida, Texas, etc. Here are 5 popular states to set up a US company..
Step 3: Register your company name in the US and receive your incorporation license
Registering a company name in the US includes:
- Check name: Before registering, the Enterprise needs to check whether the enterprise name has been registered or not;
- Name selection: The business name must be unique, easy to remember and suitable for the business field;
- Name Registration: File an application to register your business name with the appropriate state authority.
Prepare all documents required by the state, including:
- Articles of Incorporation;
- Minutes of the Organizational Meeting;
- List of Members.
File with your state's business registration office.
After the application is approved, the Enterprise will receive a license to establish a company in the US.
Step 4: Complete tax procedures
Employer Identification Number (EIN): Required for filing federal taxes and hiring employees.
- Is a unique identification number of a US company with the US Internal Revenue Service and the US federal government;
- Used to open bank accounts, apply for business licenses, declare taxes and pay taxes.
State Tax ID: May be required to file state taxes. The process for obtaining a state tax ID varies by state.
- Is a public identification number issued by the state government;
- Is the number required if the company must file annual reports, state taxes.
Businesses should apply for an EIN code immediately after registering to open a US company.
Step 5: Post-establishment support
GLA provides a full range of support services to help businesses establish companies in the US, including:
- Tax and accounting advice in the US for businesses.
- Support for opening corporate bank accounts.
- Consulting on labor law and human resource recruitment.
- Legal translation advice: trademark protection, consular legalization, etc.
- Consulting on effective business management solutions.
GLA accompanies businesses throughout their operations and development in the US market.
8. Run a successful US company with a complete journey
Open a business bank account
It is essential to keep your personal and business accounts separate. A business bank account allows for business transactions and builds a credit history for the company.
Depending on the size, needs and business conditions, businesses can choose between:
Physical bank account in the US: Suitable for businesses that need to conduct regular cash transactions or want to have direct interaction with the bank, open L/C, etc.
Digital bank account: The outstanding advantages are convenience, flexibility, and often come with many modern features such as fast money transfers and online account management.
Accounting and tax services
Let GLA's team of accounting and tax experts guide you US accounting tax and address the complexities of the US financial system, ensuring businesses stay compliant, maximize profits and achieve sustainable success.
Federal corporate income tax and state/local tax reporting;
Assist in drafting contracts, agreements and other legal documents;
Business accounting, bookkeeping in accordance with US regulations;
Advice on tax issues related to business activities in the US;
Support businesses in tax audits and inspections.
Intellectual property registration (Trademark, Copyright, Patent)
If your US-based company has products, services, or patents, register your intellectual property to protect your rights. Common forms of protection include:
Trademark: Protects names, logos, slogans.
Copyright: Protects the copyright of creative works such as text, images, music.
Patent: Protection of new inventions.
Other services
Provide office address for businesses in the US;
Providing secretarial services for businesses;
IT support services: website design, domain name registration, domain, etc.
Consular legalization of company documents and records for use in the US or other countries;
Support businesses with reputable and professional legal services, contributing to promoting sustainable development of businesses in the US market.
By partnering with GLA, businesses can focus on their core business and achieve success in the US market.
Startup expands business
GLA's team was extremely knowledgeable and guided us every step of the way, from choosing the right business structure to obtaining an EIN and opening a US bank account.
Mr. Alex
Group establishes subsidiary
We needed to set up a subsidiary in the US quickly. GLA did an excellent job and was very dedicated throughout the process. The service fees were very transparent!
Ms. Jen
9. What do customers say about the service process of establishing a company in the US?
10. Frequently asked questions when businesses establish a company in the US
1 Which state should businesses choose to open a US company?
Delaware and Wyoming are two famous states in the US that many businesses, especially trading companies and startups, choose to establish. These states attract businesses thanks to tax incentives, favorable business environments and flexible regulations.
- Tax: With an attractive state income tax rate of 0%, it is convenient for businesses to optimize costs.
- Information Security: The legal systems of Delaware and Wyoming provide a strong layer of protection for corporate and shareholder information.
- Regulations: The procedures for establishment and annual reporting are relatively simple, helping businesses save time and costs.
If the business or individual representative already has an address in another US state, forming a company in the US can simplify administrative procedures such as opening a bank account.
Contact GLA's team of experts for advice on choosing the right state to open a company in the US.
2 How much does it cost to set up a company in the US?
Costs can vary depending on the state, type of business selected, and services used. Costs include:
- State fees;
- Registered agent service fee;
- Application for an Employer Identification Number (EIN);
- Business license.
Contact GLA for support and detailed advice on costs when establishing a company in the US.
3 Does an individual need a visa to form a company in the US if the individual is not a US citizen?
Foreign individuals do not need to come to the US to set up a company.
However, Individuals may need a visa/work permit to operate a business or reside in the US. In particular, Individuals need a US visa to come to the US to open a physical bank account in the US.
Contact GLA for advice and support to quickly and effectively apply for a work visa in the US.
4 5 Popular States That Many Companies Choose When Setting Up a Business in the US?
5 Popular States to Set Up a Company in the US: Delaware, Nevada, Wyoming, Texas, Florida. Choosing the right state will depend on the size, industry and goals of the business. Each state in the US has its own tax policies, business laws and legal regulations, which directly affect the costs and operating procedures of the company. To learn more about the factors to consider when setting up a company in the US, you can refer to the article: "Top 5 ideal states to set up a company in the US".
Contact GLA for advice on choosing the state to establish a company in the US that is suitable for each business.
5 Does GLA provide support services after opening a company in the US?
Yes. GLA provides a full range of services to support businesses after establishing a company in the US, such as:
- Tax accounting support for businesses;
- Support for opening corporate bank accounts;
- Support legal services: trademark protection, consular legalization, etc.
- Providing office address rental services, IT services for websites, domain names, SSL registration, etc.
Contact GLA for more detailed information about post-establishment support services and specific quotes.
6 Is it easy to open a bank account for a US company?
Opening a bank account for a US company can be easy or difficult depending on the type of bank (traditional bank account, digital bank), state, business profile, etc. GLA is always ready to support businesses to increase the success rate when opening a US bank account. Contact GLA for support and detailed advice on the process of opening a corporate bank account in the US quickly and effectively.
7 What annual accounting tax reports do businesses opening companies in the US need to submit?
Businesses establishing companies in the US need to submit the following annual accounting tax reports:
- Tax Returns: Federal corporate income tax returns filed with the Internal Revenue Service, state tax reports, employee payroll and personal income tax reports, etc.
- Financial statements: balance sheet, income statement, cash flow statement, etc.
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