What are the advantages of Florida?
You have been planning to launch a business in the United States for some time, and you have finally decided which state you will register the company in: Florida.
This is an excellent choice, as the state offers entrepreneurs many advantages. This is one of the reasons why we assist business owners every year who want to establish their company in Florida.
Let’s take a look at Florida’s strengths.
Florida’s strengths
Florida's tax advantages
Florida's tax benefits attract many foreign entrepreneurs every year:
- First, it's important to know that in the USA (and therefore not only in Florida), overall taxation was reduced following President Trump's tax reform. The conditions are therefore optimal for launching your company in the United States.
- More specifically, in Florida, there is no tax if the company's activity is not directly related to the USA. However, there is a 5.5% tax if the company's profits exceed $50,000.
- In summary, in Florida, there is no income tax, tax on goods in transit, property tax on inventory, tax on goods produced in Florida... In other words, excellent tax conditions for developing your business successfully.
The political advantages
Florida, unlike states such as Delaware or Nevada, is not considered a tax haven. In fact, this state has an excellent reputation, particularly due to its strong economic growth.
Registering your company in Florida therefore means ensuring that you are launching it in a safe and optimal environment.
Banking benefits
To create a company in Florida, you need to have a bank account there. The good news is that the process is fairly simple. In fact, opening a bank account takes less than an hour. You only need to go to the bank to complete all the formalities.
What's more, Florida's banking network is highly efficient. You can get advice at any time regarding your investments in the USA.
The legal advantages
The procedures for setting up a company in the United States are streamlined to attract entrepreneurs. However, from one state to another, the formalities may take more or less time to complete. If you have chosen Florida to register your company, you will find that the process is simple and fast. In fact, everything can be done remotely (except for the appointment with the bank).
Let’s revisit why it is important to choose your company’s location in the USA carefully and the reasons why it is preferable to avoid states such as Delaware or Nevada.