How Canadians Can Start A Business In The USA

How Canadians Can Start A Business In The USA

The American economy is booming these days, which is ideal
not only for Yankees but for their friends in the Great White North as well.
Canadians are facing an unprecedented number of business opportunities in the
United States, though many of them are refraining from acting on these
opportunities because they think they lack the knowhow needed to successfully
compete in the American marketplace. The truth of the matter is that Canadians
have a greater chance of success when it comes to succeeding in the USA than
nearly any other foreigners.

Here’s how Canadians can start a business in the USA, and
what you’ll need to look out for.

There are many
options at your disposal

There’s a diverse number of ways that Canadians can do
business in the United States, but for now we’ll mostly focus on the E-2 treaty
investor category, as it’s by far and away the most popular and likely easiest
option for most Canadians looking to venture into the Yankee market. E-2
investors do not receive lawful permanent residence, so you won’t become a full
American citizen with the right to stay for as long as you want, but you will
be capable of conducting business in the country for some time.

E-2 investors are permitted to stay in the USA to manage
their burgeoning businesses for up to five years at a time, which is plenty of
time to see if the American marketplace is where you want to make your fortune.
You’ll want to review the American federal government’s formal webpage on E-2 treaty investors before
you proceed, as you’ll need to determine your eligibility before anything else.
As long as you come from a country that maintains a treaty of commerce and
navigation with the USA (that’s you, Canadians!) you can become an E-2 treaty
investor by investing a sizable amount of capital into the American economy in
the form of your business.

You need to understand that the E-2 process is only reliable
if you’re solely seeking to enter the U.S. to manager your business; if you’re
trying to use it for other purposes, it can be revoked from you and your
commercial dreams can be shattered, so stick to the rules at all times. Besides
the E-2 treaty investor option, you can also become an EB-5 investor who holds
a green card. This, however, requires a sizable amount of capital to work with
as well as an extensive business plan that will prove your capacity to generate
jobs in America.

Rural versus
non-rural areas

When trying to come to the U.S. to start a business, you may
need to spend more money if you don’t intend to come to a rural area. EB-5 visa
investors are encouraged to invest their money in “target employment areas”
(TEAs), which are rural areas lacking in investment that have a special need
for new jobs. If you focus on a rural TEA, you’ll need to invest only $500,000
and create 10 indirect jobs for U.S. workers, whereas non-rural non-TEA
investments will demand $1 million and the creation of 10 new direct jobs for
American workers. This is so that the American government can encourage foreign
spending in domestic areas that need it the most.

Take some time to read up on the EB-5 visa program if you’re an
investor with large sums of capital waiting to be invested in the United
States. To start a company in the USA, even if it involves portable storage containers, you may also want
to review the various types of American companies and the tax and liability
advantages offered by some of them, such as LLCs.

You must oversee and direct day-to-day
operations in order to attain a E-2 treaty visa, and EB-5 visas are highly
competitive as they’re very sought after all over the world. In time and with
perseverance, however, you can quickly turn the American marketplace into your
own thriving hub of prosperity. Always ensure your legal documents are up to
date, and consider hiring the help of a legal professional if you have specific
inquires about certain industries, some of which are regulated more stringently
than others. Soon, you’ll be bridging the national divide in North America by
bringing the American and Canadian economies ever-closer through you business.