Picking the state and the entity
Non-residents can generally form a corporation or LLC in any state without being a citizen or resident, though each state sets its own rules on who receives legal papers for the company. Delaware is often chosen for corporations expecting outside investors, while a company operating mainly in New York may form there or form elsewhere and register to do business in the state. New York LLCs face a publication requirement after formation that surprises many owners, and skipping it can limit the company's ability to bring suit in New York courts. Tax treatment differs sharply between an LLC and a corporation, especially for owners who are not US tax residents, so the choice should be made with tax advice rather than by default.
EIN, bank account, and filings
A company needs an employer identification number from the IRS for banking and taxes, and a foreign owner without a Social Security number generally applies through the IRS's international channels rather than the online form. Banks often require an in-person visit or extensive documentation on the owners and the source of funds, so opening an account can take longer than forming the company. A single-member LLC owned by a foreign person can have federal information reporting duties even in a year with no income, and penalties for missing them can be significant. Beneficial ownership reporting rules at the federal level and in New York have changed recently, so current obligations should be confirmed at formation.
What registration does not do
Owning a US company does not by itself give anyone permission to live or work in the United States. Working in your own company while you are in the country, beyond limited business-visitor activities, generally requires a visa or status that allows it, and the investor and intracompany transferee categories have their own requirements. Plan the immigration side with counsel before traveling to run the business. We start by understanding what the company will do, where its customers and staff will be, and how you plan to be paid, then lay out the formation, tax registration, and banking steps in order. The first meeting usually ends with a choice of state and entity and a list of documents to prepare.
