The United States is divided into six different time zones: Hawaii; Alaska; Pacific; Mountain; Central and Eastern because of the sheer scale of the country.
New York = 5 hours behind the UK
Chicago = 6 hours behind the UK
Denver = 7 hours behind the UK
California = 8 hours behind the UK
Hawaii = 10 hours behind the UK
Choosing where to set up your business in the US is very important. You should consider:
You really need to research where to set up your business to ensure it’s the right choice.
Yes, the USA is the UK’s top import partner. In 2015, the USA accounted for 14.5% of total UK exports. Because of this, many UK businesses first look to America when they want to expand their business globally.
Yes, the USA is the UK’s top import partner. In 2015, the USA accounted for 14.5% of total UK exports. Because of this, many UK businesses first look to America when they want to expand their business globally.
If you have any specific questions that you cannot find within our FAQ’s, you can contact our support team at support@i-guyd.com and we will be more than happy to help!
I-GUYD is a pioneering service that aims to help businesses expand into the US. Our CEO, Elliott Manning has been through this process himself after expanding his own Recruitment business to the US. He is extremely knowledgeable and founded the I-GUYD because he wanted to help other businesses do the same.
Put simply, yes, it can be a very easy process to expand your business to the US… when you know what you’re doing. I-GUYD has been designed specifically to help business owners who may not know what how to approach an expansion to the US and our expert guide will provide you with all the help and guidance needed to get there!
It’s difficult to determine whether now is a good time to expand your business to America or not without knowing any details of your business. However, there are many benefits of expanding into the US such as the fact that the US is the UK’s top import partner and it is one of the largest economies in the world, making it an extremely attractive market.
You’re in the right place! I-GUYD can offer you all the help and guidance you need along your journey of expansion into the US. We have several personal contacts of Lawyers, Bankers, Accountants, FX, Immigration Lawyers and so many more! We have someone for every step of your expansion.
Before starting your expansion to the US, we recommend carrying out extensive market research so you can determine whether the US market is suitable for your business. You should also assess your business’ financial position to decide if you can afford to explore the US market and compete against rivals in your market. Once this has been carried out, you should be able to determine if your business is ready to expand to the US.
Firstly, we would recommend visiting the US before deciding to expand there to make sure it’s the right decision for your business. To expand your business, you need to set up a subsidiary in the US and determine whether this will be a C Corporation or a Limited Liability Company. We have a whole section within the I-GUYD that can help you incorporate your business in the US and supplies you with the relevant contacts to do so.
The US market will provide your business with ample opportunities, it is one of the strongest and largest economies in the world and is the top importer to the UK, making it an extremely attractive market. It is also consistently ranked among the best internationally for its overall competitiveness and ease of doing business. No matter what industry your business is in, the US market is a great place to expand your business.
The US is one of the strongest and largest economies in the world and is the top importer to the UK, making it an extremely attractive market. It is also consistently ranked among the best internationally for its overall competitiveness and ease of doing business. No matter what industry your business is in, you know that the US market will provide you with ample opportunities to grow your business.
Banking rules and regulations vary from state to state. However, you will need to fill in a SS-4 form to obtain a US tax identification number, also known as an Employer Identification Number (EIN). You’ll also need to fill in a W8/W9 form as well, and some banks will require additional documentation.
Having a US bank account will make it so much easier to trade with your customers and avoid the hassle of delays, foreign currency, and exchange rates. Having a US bank account also ensures you are complying with all regulations from the Internal Revenue Services (IRS).
Within the I-GUYD, we have several personal contacts from banks who would be happy to help you set up your bank account in the US
Any money that your business earns in the US will have to be taxed according to a variety of factors. Firstly, the state that your business has been incorporated in and the state it operates in, the legal structure of your business and the amount of money your US entity earns.
Each state has their own individual tax and so, depending on where you incorporate your business will depend on how much tax you will have to pay. Delaware, Nevada and Wyoming typically offer lower rates of taxation than other states in the US which is why many businesses choose to set up their subsidiary within these states.
From the initial incorporation of your US entity to becoming fully operational could take anywhere between 3 and 6 months
The IRS is the Internal Revenue Service for the United States of America. It is the nation’s tax collection agency and is responsible for administering the Internal Revenue Code, similar to the HMRC in the UK.
An ESTA is an Electronic System for Travel Authorisation which is an automated system that determines the eligibility of visitors to travel to the United States under the Visa Waiver Program (VWP). Any non-US citizen is not able to enter the US without an ESTA.
Banking rules and regulations vary from state to state. However, you will need to fill in a SS-4 form to obtain a US tax identification number, also known as an Employer Identification Number (EIN). You’ll also need to fill in a W8/W9 form as well, and some banks will require additional documentation.
A subsidiary is an independent company that is more than 50% owned by another firm. The subsidiary is a distinct legal entity and therefore, liabilities, taxation and regulations are treated distinctly, limiting exposure to your parent company.
If you’re going to operate in the US, you need to form a subsidiary company because it distinguishes it from its parent company. This will protect your business from lawsuits and claims in the US and ensures you’re paying the correct federal, state and local taxes on your business.
Businesses outside the US can form a subsidiary with the help of a lawyer, who will incorporate your business for you. They will also advise whether you should incorporate your business as a C Corporation or a Limited Liability Company (LLC). I-GUYD has several lawyers who would be more then happy to help you incorporate your business in the US and help you with all your taxations and other legal requirements.
To incorporate your business in the US, you’ll need to appoint a lawyer. They will take care of all the legal requirements that are needed to set up your subsidiary and advise you on what form of subsidiary is best for your business, whether that be a C Corporation or a Limited Liability Company. You should also seek help from an Accountant and a Banker to best manage your money over in the US. I-GUYD will provide you with all the contacts you need to set up your subsidiary in the US and help you with the rest of your expansion.
Deciding which state to set up your subsidiary in will be the first decision you make in your journey of expansion to the US. You should consider many factors before deciding where to set up. Such as, the corporate tax levels in each state, filing fees and other admin charges, time zones, accessibility to target customers, good transport links and talented staff, infrastructure, cost of living and available office spaces. Your lawyer should be able to advice you with which state is best for you to incorporate your business in.
Setting up a subsidiary in the US is a lengthy and complex process due to the amount of legal administration that needs to occur. You should expect this process to take at least 3 months.
A C Corporation is a legal structure for a corporation in which the owners or shareholders are taxed separately from the entity and are also subject to corporate income taxation. It can be expensive to form this kind of subsidiary in the US, but it does have many advantages.
An LLC is a Limited Liability Company which is another form of a subsidiary. An LLC protects business owners from personal responsibility of any debts and liabilities with the pass-through taxation of a sole proprietorship or partnership.
This decision depends on the type of business that you are trying to create, the tax consequences and other factors to consider. Both forms of subsidiary have the legal advantage of distinguishing a business owner’s assets to that of the business. It also provides an extra layer of protection against legal liability.
An EIN is an Employer Identification Number is a nine-digit number which is used to identify a business entity by the Internal Revenue Service (IRS). It is also known as a federal tax identification number.
Every business needs an Employer Identification Number (EIN) to be identified by the Internal Revenue Service (IRS). It allows you to incorporate businesses, open a bank account, hire employees, file for bankruptcy, protect your assets and much more.
A Federal Tax ID number is a nine-digit number which is used to identify a business entity by the Internal Revenue Service (IRS). It is also known as an Employer Identification Number (EIN).
Every business needs a Federal Tax ID to be identified by the Internal Revenue Service (IRS). It allows you to incorporate businesses, open a bank account, hire employees, file for bankruptcy, protect your assets and much more.
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