Choose Florida

More and more entrepreneurs are choosing Florida, and Orlando in particular, to develop their businesses. Setting up a business in the USA cannot be improvised. You need to weigh the pros and cons and consider the potential tax optimization that could result from it. Done! The decision to settle in America has been made, and you are now hesitating over which state to choose for setting up your business.

As many choices as there are states!

Your choice comes down to two states: Florida or Delaware. In both cases, Florida and Delaware offer no income tax. However, these two states have many differences. Namely: 1- If you choose Florida to set up your business, you will benefit from a physical address for your offices, which will allow you to open a local bank account much more easily and quickly 2- Having your business in Florida means benefiting from the state’s reputation and positive image. Delaware, on the other hand, suffers from the image of a tax haven with which it is associated. Read here: Why should you avoid Delaware? 3- It is true that the cost of forming a company in Florida is higher than forming a company in Delaware, but this difference provides banking and tax peace of mind! Do not hesitate to contact us to confirm that Florida meets your business needs.

Your final choice is to set up your business in Florida

            Why Florida, why Orlando?

In the USA, Florida is known as one of the favorite destinations for French-speaking Europeans and Quebecers. The main reason is the time difference. Indeed, there is only a 6-hour time difference with the European continent, which is very advantageous for doing business with European companies. The daily flights between the USA and Europe should not be overlooked either. If expatriates choose Florida, it is not by chance. In general, the cost of living is much lower than in New York, for example. The economy and tax rates are also much more favorable, which offers far greater benefits for foreign entrepreneurs. Finally, with much higher profitability rates than other major American cities, Florida is the ideal place to start a business.

            Study the American market

Before starting a business in the United States, make sure you have conducted a preliminary study to validate the viability of your venture. Many companies close after only a few months because they have ignored the state of the market. If you prepare for your move and conduct your market research properly, you could quickly begin generating very substantial profits. Indeed, the state of Florida is known for being home to some of the largest American companies: Burger King, Disneyland, etc. That is why preliminary research is more than essential to the success of your business.

            Choosing an LLC in Florida

Once you have found and studied your idea, it is time to choose your legal structure and begin the administrative procedures to incorporate your company. The most common and widely used legal structure among expatriates is the LLC. (See the article about LLCs). An LLC is the fastest and simplest legal structure to incorporate in the USA when creating a company. This type of structure is the ideal choice for start-ups and medium-sized businesses. It should be noted that Florida has one of the lowest tax rates in the United States, making it the ideal place to do business.

            Taxes in Florida

There is no state income tax in Florida. There is only a 5.5% sales tax. If you are not a resident of the USA and you have an LLC, this type of company is fiscally transparent (meaning that the company itself is not taxed, but its members are). That is why this destination is favored by entrepreneurs, but not only them: retirees also come to enjoy the sunshine and the tax benefits of living in Florida.

            Florida, an excellent asset for your business

Florida enjoys an excellent brand image in the business world. Although income tax is zero and the other taxes are low, the State of Florida does not appear on any of the OECD’s risk lists. You can therefore manage your company from the USA or internationally. If you are ready to take the plunge, our firm offers assistance with the formation and administrative management of your company in the USA. We are registered as a Registered Agent and can therefore represent your company on American soil before the American authorities. In the eyes of the courts and the law, we are your legal representative. But that is not all. In addition to this Registered Agent mandate, we can also handle your company’s accounting to ensure compliance with American standards. Contact our Orlando office at the following address: support@merritt.group .