LLCs are popular business entities in the US and are now gaining popularity in India as well. An LLC is a business structure that can combine the features of both a corporation and a partnership/sole proprietorship.
Like a corporation, an LLC has limited liability for its members, meaning that the member's personal assets are protected from creditors in the event that the LLC is unable to pay its debts. And like a partnership or sole proprietorship, an LLC is relatively easy to set up and maintain.
Unfortunately, the LLC has yet to make it over to India. You can, however, set up a US-based LLC while still being a resident of India. You will, however, need to have a US address and phone number as well as a US bank account.
So, if you are looking to set up a Limited Liability Company (LLC) in India, you have come to the right place. In this article, we will walk you through how to set up an LLC in India, step-by-step. We will also provide some tips on how to make the process as smooth and stress-free as possible. So without further ado, let's get started!
An LLC is a legal entity that is used by many types of companies in the United States. It is a hybrid between a corporation and a partnership, and it offers the limited liability protection of a corporation with the flexibility and tax benefits of a partnership.
Unfortunately, there are no LLCs in India. The closest thing to an LLC in India would have to be a Limited Liability Partnership (LLP). However, the good news is that you can still set up a US-based LLC while living in India.
The primary hurdle when setting up an LLC as a non-US citizen is the sheer amount of paperwork involved. With doola, however, we can take care of all the paperwork for you so that you can focus on running your business/startup.
We'll set you up with a physical US mailing address and a dedicated LLC bank account, which you can access from India. We'll also help you file the necessary paperwork with the US government and obtain an Employer Identification Number (EIN).
Once your LLC is formed, we can provide registered agent service and annual report filing so that you can maintain compliance with US state laws. In fact, we'll take care of all the paperwork and maintenance for you, making the whole process hassle-free.
So, in short, you cannot form an LLC in the US from India. However, we can help you set one up in the US that will provide you with all the benefits and protections of an LLC, without any of the hassle.
There are a range of benefits to forming your company as an LLC in the US, even if you're based in India. For instance:
Limited liability protection is one of the main advantages of forming an LLC. It means that the business owners of the LLC are not personally liable for the debts and liabilities of the business. For example, if the LLC owes money to creditors, the creditors cannot go after the personal assets of the LLCs owners.
Outside of the basic benefits of an LLC, there are also a few key benefits that apply specifically to LLCs formed in the US, even if you're based in India. For instance:
In terms of credibility, an LLC is also generally seen as a more professional and established business entity than a sole proprietorship or partnership. This can be helpful if you're looking to attract investors or partners.
Having a US-based business also adds to the credibility of your business if you're looking to expand internationally. Many countries, including India, give preference to businesses that are based in the US when it comes to awarding contracts and other business opportunities.
Setting up an LLC in the US can be a good option for Indian entrepreneurs who want to take advantage of the many benefits that come with having a US-based business.
The best news yet is that, with doola, it takes just five simple steps to set up an LLC in the US, so let's go through them one by one!
The reason that doola is used by hundreds of founders from India is that we make it very easy to set up an LLC in the US. All you need to do is follow these five simple steps:
Our mission statement is very simple: we want to help you form your company in the US as quickly and easily as possible. To do this, we've created a platform that makes it super easy to set up an LLC in the US.
doola's platform is specifically designed to help US and non-US founders with company registration and incorporation, which means that we take care of all the paperwork and red tape for you. We also provide a virtual office address in the US, so you don't need to worry about having to use your personal mailing address on any LLC formation documents.
For all foreign companies, we recommend opening an LLC in Delaware or Wyoming as they have the lowest annual filing fees.
Hundreds of entrepreneurs have already used doola to form their LLCs in the US, and we're sure that we can help you too.
The next step is to get an Employer Identification Number (EIN) for your LLC. An EIN is a nine-digit number that is assigned by the IRS and used to identify your business for tax purposes.
If you're a non-resident without a US SSN (Social Security Number), getting an EIN can be a bit tricky. But don't worry, we can help you with that too. Our expert team will take care of the process for you and make sure that everything is done correctly.
Even better, the cost of obtaining an EIN is part of our business plan, so you don't have to worry about any additional expenses, and we'll give you real-time updates on the status of your application so that you can be confident that everything is moving along smoothly.
Under US law, all businesses are required to have a tax ID number, which is used for identification purposes when filing taxes. If you don't have a US SSN, then the only way to get a tax ID number is by applying for an EIN.
Not having a tax ID number can create a lot of problems for your business, including:
Basically, without an EIN, it will be very difficult to do anything with your business in the US. So if you're serious about starting a business in the US, then you need to get an EIN.
Generally, opening a US bank account required an in-person visit to a local branch, which clearly isn't possible if you're based in India.
However, with our help, you can open a business account with a top US bank without ever having to step foot in the country. We'll take care of all the paperwork and requirements for you and make sure that your account is opened quickly and smoothly.
Additionally, our banking partner provides a $250 cash bonus if you reach the minimum spend requirement in the first 90 days, so you'll actually earn money just by signing up!
With doola Banking, singing up for a business account is easy and hassle-free. We'll take care of all the paperwork and requirements, so you can focus on what's important, growing your business and making money.
Once you have registered your LLC and we've gotten an EIN on your behalf, you're ready to set up your payment gateways. This will allow you to start doing business and receiving payments from customers in the US and start accepting payments in USD
There are a few different options available, but the two most popular are PayPal and Stripe. Both are easy to set up and use, and they have fairly low transaction fees.
PayPal is one of the most popular payment processors in the world, and it's very easy to use.
1. Go to PayPal.com and sign up for a business account.
2. Follow the instructions to link your bank account and credit/debit cards.
3. Once you've registered your LLC and have an EIN, you can add that information to your PayPal account so that customers can see your company name when they make a payment.
4. Set up your PayPal account to accept payments in USD. You can do this by going to the "Profile" tab and then clicking on "More options." From there, click on "Set Currency Conversion Options" and select "enable."
Stripe is the world's largest online payment processor, handling billions of dollars in transactions every year. They're also one of the easiest platforms to use, with a simple, straightforward interface that makes it easy to get started.
1. Go to Stripe.com and create an account.
2. Follow the instructions to link your bank account and credit/debit cards.
3. Once you've registered your LLC and have an EIN, you can add that information to your Stripe account so that customers can see your company name when they make a payment.
4. Set up your Stripe account to accept payments in USD. You can do this by going to the "Account" tab and then clicking on "Settings." From there, click on "Currency" and select "United States Dollar."
Under US law, LLCs are required to file an annual tax return. These tax returns are due on the 15th day of the fourth month after the end of your fiscal year. For example, if your fiscal year ends on December 31, your tax return would be due on April 15 of the following year.
It's important to keep up with annual tax filings because if you don't, your LLC could be dissolved. Additionally, failing to file an annual return can result in late filing fees and penalties.
If you're not sure how to file your LLC's annual tax return, you can consult with an accountant or tax attorney. There are plenty of US-based online accounting and tax services that can help you with this as well.
If you're looking for help with company formation, then you should definitely consider setting up an LLC with doola. An LLC is perfect for small businesses and can offer great benefits such as pass-through taxation.
Additionally, having a U.S company, while being based in India, can offer many opportunities for your business. It opens markets and can help you form partnerships with other companies, as well as giving your business a more global feel.
There are many things to consider when setting up an LLC, but doola can help make the process easy and straightforward. We can handle all the paperwork and filings for you so that you can focus on running your business.
doola provides an easy and efficient way to set up your US LLC online. We'll take care of all the paperwork and filings for you so that you can focus on running your business.
Contact us today to get started!