Hello, I appreciate the comments of anyone who may be able to assist. I am an American expat living oversees for the next four years on contract basis. I would like to start a scientific consulting company, LLC, to do consulting work for my previous employer based in the US and another client based in the US. Since I am no longer a permanent resident of any state (I moved from Virginia) and I’m not sure which state I will move to when I return, how can I go about setting up an LLC?I know I can establish sole proprietorship, but would prefer the protection of an LLC. Thanks for any help/input.Marie
There are two good options:
1. Set up an LLC in Nevada. Nevada has no state income tax on corporations, LLCs or personal income. So, when you move back you can foreign qualify the Nevada company in the state in which you later reside. McDonald's is a Delaware corporation which has foreign qualified to do business in all 50 states, for example. Here is an example of a company where you can obtain a Nevada LLC http://www.companiesinc.com/ .
2. Another good option is to establish an offshore LLC. This way, there are no corporate ties to the US while you are abroad. Then when you move back you can do an alien qualification so it can do business in a US state. Nestle (chocolate) is foreign and resistered in various US states. One good place is to form the LLC in the Caribbean island of Nevis. They have favorable asset protection laws and there is no income tax Nevis itself. Check with an accounant for any tax consequences where you live and within the US. Here is an example of a company that sets up offshore companies http://www.offshorecompany.com/ .
There are two good options: 1. Set up an LLC in Nevada. Nevada has no state income tax on corporations, LLCs or personal income. So, when you move back you can foreign qualify the Nevada company in the state in which you later reside. McDonald's is a Delaware corporation which has foreign qualified to do business in all 50 states, for example. Here is an example of a company where you can obtain a Nevada LLC http://www.companiesinc.com/ . 2. Another good option is to establish an offshore LLC. This way, there are no corporate ties to the US while you are abroad. Then when you move back you can do an alien qualification so it can do business in a US state. Nestle (chocolate) is foreign and resistered in various US states. One good place is to form the LLC in the Caribbean island of Nevis. They have favorable asset protection laws and there is no income tax Nevis itself. Check with an accounant for any tax consequences where you live and within the US. Here is an example of a company that sets up offshore companies http://www.offshorecompany.com/ .
Thanks so much for the input.
I think I will look into starting an LLC in Nevada. The idea of no tax is a plus and I would, ideally, not like to have an offshore company if at all possible.
Hopefully, it will be pretty straightforward to establish the LLC while being abroad.
Thanks again for the help.
Marie
topspeak | Window Shopper | 7/26/2011 - 11:19 am
MarieMiller | Performer | 7/27/2011 - 6:02 am
topspeak | Window Shopper | 7/26/2011 - 11:20 am
ngoriel | Community Moderator | 7/25/2011 - 8:39 pm
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