How to Register a Business in the US from Angola

Step 1: Benefits of starting your US business from Angola

Starting a US business from Angola presents a unique array of opportunities and advantages. Leveraging the robust and diverse market of the United States can provide Angolan entrepreneurs with access to exceptional resources, advanced technology, and unparalleled networking opportunities. By tapping into the largest economy in the world, businesses can achieve substantial growth and scalability. Furthermore, the US offers a highly developed legal and regulatory framework that is conducive to business, ensuring that companies are supported in their endeavors and can operate transparently and efficiently.

Another significant benefit is the potential for attracting international investors. The credibility associated with having a US business can make it easier for entrepreneurs to secure funding and partnerships. This can be especially valuable for Angolan businesses looking to foster innovation and expand their global reach. Additionally, starting a US business allows for diversification, reducing the reliance on the local Angolan market and mitigating economic risks. Through strategic planning and leveraging US market entry, Angolan entrepreneurs can contribute to their home country's economy by creating job opportunities and fostering economic development through successful international ventures.

Step 2: How to start your US business from Angola

Starting a US business from Angola can be a rewarding venture, provided you follow the correct steps and adhere to both U.S. and Angolan regulations. Firstly, you need to select a business structure. The most common types are limited liability company (LLC), corporation, partnership, and sole proprietorship. Each type has its own legal and tax implications. It is recommended to consult with a legal advisor to choose the best structure for your business.

Once you've determined your business structure, you need to register your business with the appropriate U.S. authorities, which typically starts with the Secretary of State in the state where you plan to operate. You will also require an Employer Identification Number (EIN) from the Internal Revenue Service (IRS) for tax purposes. Conducting business in the U.S. might also require opening a U.S. bank account. Many banks offer services for international entrepreneurs, but you may need to visit the U.S. for the account setup process. Consider seeking the guidance of a professional who specializes in international business to navigate these complexities successfully.

Step 3: Opening a Business Bank Account

A business bank account is a separate account that is used exclusively for business transactions. But why is it important to open a business bank account?

Keeping your personal and business finances separate is crucial. A dedicated business bank account allows you to do just that, making it much easier to track your business’s income and expenses. This clear separation translates to simpler tax reporting come tax season.

But the benefits go beyond bookkeeping. Having a separate account can provide legal protection. It establishes your business as a distinct entity from yourself. In the unfortunate event of a lawsuit or bankruptcy, this separation can help shield your personal assets from business liabilities.

Furthermore, a business bank account can boost your credibility and project professionalism.

It demonstrates to clients and vendors that you take your business seriously and are committed to maintaining accurate financial records. This can be especially important in establishing trust with potential partners.

Finally, a business bank account is essential for accepting payments, even if you utilize a merchant account. Whether you use doola or another service, funneling those customer funds into a dedicated business account is necessary.

doola partners with banks that allow you to open a bank account remotely from anywhere in the world, like Mercury. Shop around and compare different banks’ fees and services.

Look for a bank that offers the features you need, such as online banking, mobile banking, or overdraft protection.

You may also want to consider working with a bank that specializes in small business banking.

Step 4: Understanding Your Compliance Requirements in Angola

Understanding Compliance Requirements for Running a US Business in Angola

Expanding a US business into Angola can be an exciting opportunity but comes with its own set of compliance challenges. Navigating these requirements effectively is crucial for successful operations. Below are some considerations to help you understand the essential compliance requirements when venturing into the Angolan market.

Legal Framework

Understanding the local legal framework is the foundation of compliance.

• Company Registration: Register your business with Angolan authorities, including obtaining a commercial license and tax ID.
• Local Representation: Appoint a local representative who is familiar with domestic business regulations.
• Business Structure: Choose an appropriate business structure such as a Limited Liability Company (LLC) or Joint Venture that aligns with Angolan laws.

Labor Laws

Compliance with labor laws is essential to avoid legal issues and ensure smooth operations.

• Employment Contracts: Draft clear, compliant employment contracts that adhere to Angolan labor legislation.
• Work Conditions: Ensure fair work conditions and regular payments to employees as per local guidelines.
• Employee Rights: Respect employee rights concerning working hours, leave, and termination procedures.

Taxation Requirements

Being aware of the tax obligations is imperative for day-to-day operations.

• Corporate Tax: Understand the corporate tax rates and filing requirements for businesses operating in Angola.
• VAT: Familiarize yourself with Value Added Tax (VAT) compliance, including registration and remittance.
• Withholding Taxes: Know the rates and mechanisms for withholding taxes on dividends, interest, and royalties.

Sector-Specific Regulations

Different sectors may have unique compliance needs.

• Oil and Gas: For businesses in the oil and gas sector, specific licenses and compliance with environmental regulations are fundamental.
• Healthcare: Compliance with healthcare standards and securing the necessary permits are crucial for businesses in the medical field.
• Telecommunications: Adhere to the government’s guidelines and acquire appropriate licenses for telecom operations.

Intellectual Property

Protecting your intellectual property (IP) is vital in any new market.

• Registration: Register your trademarks, copyrights, and patents in Angola to safeguard your IP.
• Enforcement: Understand the mechanisms for enforcing IP rights and addressing infringements.

Running a US business in Angola requires a thorough understanding of local compliance requirements. By paying attention to the legal framework, labor laws, taxation, sector-specific regulations, and intellectual property considerations, you can navigate the complexities of the Angolan market more effectively.

doola offers a Total Compliance package, including bookkeeping services, to help you stay on top of your compliance requirements. This ensures your business operates smoothly and adheres to all legal and regulatory standards.

Step 5: Understanding Your Tax Obligations in Angola

Understanding Tax Obligations for Running a US Business in Angola

Expanding a US-based business to Angola can be a lucrative opportunity, but it comes with several tax obligations you need to understand. Navigating the Angolan tax system, which differs significantly from that of the United States, is crucial for legal compliance and financial planning. Below are key considerations:

1. Corporate Income Tax

In Angola, corporate income tax rates and regulations can differ from those in the US. Businesses are taxed on their worldwide income if they are residents, and only on Angolan-source income if they are non-residents.

• Rate: The standard corporate tax rate is 25%.
• Allowances: Certain expenses may be deductible under Angolan law.
• Filing: Annual tax returns must be filed by the end of May each year for the prior fiscal year.

2. Value Added Tax (VAT)

VAT is applied to the sale of goods and services in Angola. It is important to understand the implications for your business operations.

• Rate: The VAT rate in Angola is set at 14%.
• Registration: Companies must register for VAT with the Angolan Tax Authority.
• Compliance: Regular VAT returns are mandatory, typically on a monthly basis.

3. Payroll Taxes

If you are employing staff in Angola, you need to account for payroll taxes, which include social security contributions and personal income tax withholding.

• Social Security: Employers must contribute 8% of the employee's salary to social security, while employees contribute 3%.
• Income Tax: Personal income tax withholding is on a progressive scale from 10% to 17% based on earnings.

4. Double Taxation Agreements (DTA)

To avoid being taxed twice on the same income, it is important to check if there is a Double Taxation Agreement between Angola and the US.

• Relief: DTAs sometimes offer relief through tax credits or exemptions.
• Documentation: Proper documentation is needed to claim any relief under a DTA.

5. Sector-Specific Taxes

Certain industries, like oil and gas, are subject to additional tax regulations in Angola.

• Petroleum Income Tax: Applicable to oil companies, this tax is set at 50% of taxable income.
• Mining Royalty: Mining companies are subject to royalties ranging from 2% to 5% of mineral sales.

Understanding these tax obligations is crucial for successful business operations in Angola. Consulting with local tax experts and legal advisors can help ensure compliance and optimize your tax strategy.

It’s a good idea to consult with a tax professional or an accountant (or to hire these roles in-house) to make sure you’re not missing anything.

doola's Total Compliance package can handle your tax filings for you, ensuring you remain compliant with federal, state, and local tax requirements.

Step 6: How doola Can Assist

doola simplifies the incorporation and setup process for your company, ensuring you’re ready to charge customers, hire your team, and raise funds as quickly as possible.

Fill out your company details in the doola form in less than 10 minutes. Then, we’ll incorporate your company in any of the 50 US states, get your IRS tax ID (EIN) for you, and file your 83(b) tax election if needed. 

doola can also help you open a bank account and start accepting payments even before the IRS assigns your tax ID.

doola founders also gain access to exclusive discounts at leading software partners, one-click onboarding with select partners, and free CPA consultations.

The doola Application

It takes less than 10 minutes to fill out the details of your new company. You’ll choose your company structure (C corporation, limited liability company) and pick a company name.

Our instant company name checker will let you know if it’s available before you submit your application. You’ll add an address and phone number and review and sign your EIN SS4 letter in one click.

Forming the Company

doola will review your application and file your formation documents in the state within one business day. doola charges $297 for our Starter Plan and your first year of registered agent services (a state compliance requirement), and $297 each year thereafter to maintain your registered agent. 

You can also opt for our Total Compliance plan.

Getting Your IRS Tax ID (EIN)

After your formation in the state is complete, doola will file for your company’s IRS tax ID. Founders who provide a US Social Security number, US address, and US phone are eligible for expedited processing. All other users will receive standard processing. 

For standard orders, doola will fax your form SS4 to the IRS and then call the IRS to retrieve the EIN for you to expedite the process if we can, using real-time IRS data to determine when your filing is likely to be available.

Filing Your 83(b) Tax Election

Many startup founders choose to file an 83(b) tax election to potentially save on future personal taxes. doola can file and mail your 83(b) tax election in one click for both US and non-US founders — no trip to the post office required.

We’ll file it using USPS Certified Mail with tracking, and you’ll get a copy of your signed 83(b) election and proof of filing in your Dashboard.

Partner Perks and Discounts

doola partners with a range of third-party tools to offer special pricing or access to founders. We offer discounts on engineering, tax and finance, compliance, and operations tools, including Amazon Web Services.

doola also partners with Mercury to provide faster, automatic onboarding using your doola company information so you can get ready to bank and fundraise even faster.

Founders may also access discounts on other doola products, including up to one year of free credits toward payment processing.

Read our guides for startup founders, or learn more about doola and how we can help you set up your new business quickly and easily.

Turn your entrepreneurship dream into reality today!

We do our best to provide accurate and up to date information, however the information provided here are just guidelines. Please speak with a tax and compliance professional in your country