Setting up a Business in Florida
As America offers one of the worlds’ most respected banking institutions, it is not hard to see why foreign business owners want a piece of the action.
Setting up a new company in America is relatively easy but obtaining the support of company formation specialists who have first-hand experience in the States is recommended to ensure plain sailing. These professionals will guide you through all the paperwork, the ever changing legal compliance issues, and get your new company set up and trading as quickly as possible.
For those wanting to relocate to Florida, the E-investor visa makes it possible for a family to settle there permanently if they buy or start a business. The minimum investment of $100,000 is required to qualify for this type of visa but if you obtain one it will be valid so long as the business is trading and is owned by yourself.
People immigrating to Florida from the UK have tended to focus on real estate, catering and other retail businesses. The prices of real estate in Florida are more reasonable than in other areas of the state.
If you are planning to buy an established business, it may come with a readymade reputation and customer base but it will also come with a considerably higher price tag than if you started up a new business.
Starting your own company in Florida involves more risk. The key is to find the right piece of Florida real estate for your premises and be sure that there is a market for the goods or services you are offering.
Franchising is still big business for those relocating to Florida. Many Brits relocating to Florida choose to operate a franchise branch of a large chain business, allowing them to start a new business in Florida whilst keeping the advantages of an established company.
The English language might be the same in the US as it is in the UK, but be aware that other aspects such as the jargon, business practices, and systems, are different to the UK.
There are endless possibilities regarding types of business entities that you can establish in America. From Limited Liability Corporations that protect business and personal assets, to the other end of the spectrum, virtual offices – the key is to be clear again. Avoid getting forced into the wrong type of company and take advice from your company formation specialist.
For this reason you will need a lawyer or accountant to guide the way through the process of setting up or buying a business in Florida. Choose wisely and make sure the firm you go with has a lengthy history of setting up businesses in the US.
Try and be as clear as you can with them. If you know what you’re really hoping to achieve in the future from this business, they will be able to guide you in a more personalised way, tailor making their advice to your needs and hopes.
Lastly, insist that your American company formation specialist demands that all your transactions are handled by local business professionals in your chosen state. Using business professionals from the state you have dealings with means it’s far more likely that you’ll benefit from the most advantageous strategies.
For further information, please do not hesitate to contact us.