How to Register a Business in the US from Sri Lanka Sri Lanka

Learn the essential steps and key insights for Sri Lankan entrepreneurs to successfully establish and operate a business in the United States, including legal requirements, financial considerations, and practical tips for navigating cross-border commerce.

Ready to start your business? Plans starting at $297 + state fees.

Step 1: Benefits of starting your US business from Sri Lanka

Starting a US business from Sri Lanka offers a range of unique benefits that can provide entrepreneurs with a significant competitive edge. One of the primary advantages is the lower cost of operations. Compared to the United States, Sri Lanka has a more affordable cost of living and labor, which means that you can hire skilled professionals without the steep expenses associated with the US market. This cost efficiency can enable your business to allocate more resources towards innovation, marketing, and scaling, thereby accelerating your growth trajectory.

Another substantial benefit is the time zone advantage. Sri Lanka's time zone allows for extended business hours that can significantly enhance productivity and customer service. By leveraging this time difference, businesses can offer round-the-clock support to their US customers, ensuring that customer issues are addressed promptly and efficiently. Moreover, Sri Lanka's growing tech ecosystem and its emphasis on education produce a highly skilled workforce, particularly in IT and business services. This talent pool can be pivotal in offering high-quality service that meets the standards of the US market.

Pros

  • Lower operating costs due to lower wages and cost of living compared to the US
  • Access to a skilled and educated workforce
  • Strategic location for expanding business in South Asia region

Cons

  • High levels of corruption make it difficult to navigate regulations and bureaucracy, negatively impacting business operations.
  • Limited access to skilled labor in certain industries may hinder growth potential and competitiveness in the market.
  • Political instability and security concerns could disrupt business activities and pose risks to investment.

Step 2: How to start your US business from Sri Lanka

Starting a US business from Sri Lanka involves a series of structured steps to ensure compliance with both US and Sri Lankan regulations. Initially, you need to decide on the type of business structure you want to establish in the US, such as a Limited Liability Company (LLC) or a corporation. This decision impacts your registration process, tax obligations, and legal requirements. Once you've decided, you'll need to choose a unique business name and check its availability in the state where you plan to register your business. You can perform this search through the Secretary of State’s website of the particular US state.

After finalizing your business name, the next step is to register your business with the state, which typically involves filing the Articles of Incorporation or Organization and paying the required fee. Additionally, you need to designate a registered agent in the US who can accept legal documents on your behalf. Acquiring an Employer Identification Number (EIN) from the Internal Revenue Service (IRS) is crucial as it acts as your business's social security number for tax purposes. Finally, ensure you have a well-organized plan for managing operations from Sri Lanka, including setting up a US bank account, understanding relevant tax treaties, and possibly hiring local employees or contractors. This careful planning will facilitate a smoother entry into the US market.

Choose and reserve a name

It's wise to check your LLC name against similar businesses in your area. We include a name check with our formation services and can reserve names for you.

Pick a Registered Agent (RA)

An RA physically receives your LLC's legal notices during normal business hours. Most states require this, including Sri Lanka—but the good news is, we can do it for you.

File a Certificate of Formation

This document contains basic details about your LLC, including its name and address. When we file this for you, it's typically sent to the Sri Lanka Secretary of State.

Preparing an Operating Agreement

This outlines your LLC's rules for everything from decision-making to distributing profits. Though it isn't required in your state, our templates make it easy to prepare one and define your rights.

Get an Employer ID Number (EIN)

An EIN is like a Social Security number for your LLC, and is needed for banking, taxes, and hiring. Sri Lanka LLCs may also have additional post-formation tax and regulatory requirements.

Determine licenses needed

You'll also need to apply for any specific permits or licenses that may be required for compliance, although it's wise to wait until your LLC's formation documents are approved.

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 Sri Lanka

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Understanding Compliance Requirements for Running a US Business in Sri Lanka

When expanding your US business to Sri Lanka, it is crucial to understand and adhere to various compliance requirements to ensure smooth operations. The following considerations will help you navigate the compliance landscape effectively:

1. Business Registration

Before commencing operations, you must register your business with the Department of Registrar of Companies in Sri Lanka. The process includes:

  • Choosing an appropriate business structure (e.g., branch office, subsidiary, joint venture)
  • Submitting required documents such as Articles of Association and Form 1
  • Obtaining a Business Registration Certificate

2. Employment Laws

Adhere to local employment laws to maintain a lawful and productive workplace. Key considerations include:

  • Complying with minimum wage regulations
  • Ensuring fair work hours and overtime compensation
  • Providing mandatory benefits such as annual leave and public holidays
  • Understanding termination procedures and severance pay

3. Taxation

Understanding Sri Lanka’s tax regulations is essential for compliance. Key taxes to consider are:

  • Corporate Income Tax: Applicable to both local and foreign businesses
  • Value Added Tax (VAT): Imposed on the supply of goods and services
  • Pay-As-You-Earn (PAYE): Tax on employees' income collected by the employer
  • Withholding Tax: Applied on specific payments to non-residents and certain resident payments

4. Financial Reporting

Accurate financial reporting ensures transparency and compliance with Sri Lankan regulations. Businesses must:

  • Maintain proper accounting records
  • Comply with Sri Lanka Accounting Standards (SLFRS)
  • Submit annual financial statements to the Registrar of Companies
  • Undergo regular audits by certified auditors

5. Import and Export Regulations

Expanding your business to Sri Lanka may involve importing or exporting goods. Key compliance areas include:

  • Obtaining necessary import/export licenses
  • Adhering to customs regulations and tariffs
  • Complying with product standards and safety regulations

6. Intellectual Property Protection

Protecting your intellectual property (IP) is crucial when operating in a foreign market. In Sri Lanka, ensure you:

  • Register trademarks, patents, and copyrights
  • Monitor and enforce IP rights
  • Seek legal assistance for IP disputes

Understanding and adhering to these compliance requirements is vital for running a successful and lawful US business in Sri Lanka. Consulting with local experts and legal advisors can further ensure that your business remains compliant with all local regulations.

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 Sri Lanka

Understanding Tax Obligations for Running a US Business in Sri Lanka

Running a US business in Sri Lanka involves navigating a complex landscape of tax obligations. It's essential to understand the requirements and responsibilities to ensure compliance and optimize financial efficiency. Below are some key considerations:

Corporate Income Tax

Sri Lanka imposes a corporate income tax on businesses operating within its borders. As a US business, you will be subject to Sri Lankan corporate tax rates, which can vary depending on the industry and size of your business. It's crucial to consult with a local tax advisor to understand the specific rates and any applicable exemptions or incentives.

Double Taxation Agreements (DTAs)

Sri Lanka has entered into DTAs with several countries, including the United States. These agreements aim to prevent double taxation on the same income. The US-Sri Lanka DTA can provide relief from paying taxes twice on the same profits. Ensure to review the terms of the DTA and claim any benefits you are entitled to.

Withholding Taxes

Sri Lanka imposes withholding taxes on certain payments to non-residents, such as dividends, interest, and royalties. If your US business earns income from these sources, understanding the applicable withholding tax rates and ensuring proper compliance is critical. The DTA may also provide reduced withholding tax rates.

Value Added Tax (VAT)

If your US business is involved in the supply of goods and services in Sri Lanka, VAT registration might be required. Sri Lanka's VAT system necessitates the collection and remittance of VAT on taxable supplies. Ensure that your business is properly registered and compliant with VAT obligations.

Transfer Pricing Regulations

US businesses must adhere to Sri Lanka's transfer pricing regulations, which govern transactions between related entities to ensure arms-length pricing. Proper documentation and transfer pricing policies are vital to avoid penalties and ensure tax compliance.

Permanent Establishment Concerns

Determining whether your US business constitutes a permanent establishment in Sri Lanka is essential, as it affects your tax obligations. Factors such as the presence of a fixed place of business and the duration of activities in Sri Lanka will influence this determination.

Professional Advice

Given the complexities of tax obligations for US businesses operating in Sri Lanka, seeking professional advice from tax consultants or legal experts with local knowledge is highly recommended. They can provide tailored guidance and ensure full compliance with both US and Sri Lankan tax laws.

In conclusion, understanding and managing tax obligations for a US business in Sri Lanka requires thorough knowledge of local tax laws, international agreements, and compliance requirements. Proactively addressing these considerations will help your business operate smoothly and efficiently.

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

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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

doola's website is for general information purposes only and doesn't provide official law or tax advice. For tax or legal advice we are happy to connect you to a professional in our network! Please see our terms and privacy policy. Thank you and please don't hesitate to reach out with any questions.

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Starter

Start your business 🏁

Formation & EIN filings, RA service, Operating Agreement, and regular compliance reminders.

State fee not included.

$297 /yr

Total Compliance

Stay 100% compliant 🚀

Formation with Expedited processing, Annual State filings, IRS Tax filings, a dedicated Account Manager and a free CPA consultation.

State fee not included.

Each state charges a one-time formation fee. Your state fee will vary depending on the state you form in. Not sure which state to choose? Take our quiz →

Getting started with doola is easy

Step 1

Form your company 🏁

What we need from you is your:

  • Ideal company name
  • Personal address (it can be anywhere in the world)
  • Email address

Get your company formed in:

1 week (on average)

Step 2

Get everything you need 🤝

What you get from us:

  • Company formed with any state
  • Employer Identification Number (EIN)
  • Operating Agreement & Articles of Organization
  • Registered Agent service

Get your EIN in:

1 – 2 business days with SSN

8 weeks (on average) without SSN

Step 3

Set up your US bank account 🏦

Once you get your EIN (required for a bank account), you’re ready to apply for a US bank account through our custom partner portal. A passport is required for this step. ‍

Get your bank account in:

3 – 5 business days

Step 4

Grow your business 🚀

You’re all set to dive into your work with the assurance that your business is compliant. Explore additional services, including doola Taxes, available for purchase directly from your Dashboard. For compliance from day one, consider starting with Total Compliance.

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Y Combinator

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YC S20's @doolaHQ is the one-stop-shop for US and non-US residents to launch a US LLC, DAO LLC, and C Corp — and today they're sharing their company formation API with the world, to enable businesses big and small to create a company from the command line.

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Ankur Nagpal

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You can programmatically create a company or DAO using their API Programmatically create a business, get an EIN, get a US bank account, process payments, file taxes & more Perfect for any “business in a box” startup

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Jose Rosado

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Thanks to the @StartPackHQ for helping me with this process. Check them out 👇 https://rosa.do/startpack

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Mary Ann Azevedo

.@doolaHQ, which describes itself as a "Business in a box" for SMBs, has raised $3M in a seed round of funding. doola provides company formation, an EIN, a U.S. address and bank account, access to U.S. payments and a tax consultation, among other things.

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Ankur Nagpal

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The good news: You don't have to be a US resident to start a company in America If you want to start a tech startup, incorporate a C-Corp If you want to freelance or consult with your own business, incorporate a LLC This should be straightforward - use @doolaHQ & you're good

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Alex Lieberman

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I haven't started a business in 8 years. I had to rediscover the mission critical tools for starting & running a new venture. Here's the stack:LLC registration: @doolaHQ, Trademark filing: @JoshGerben, Domain registration: @GoDaddy, Website: @Shopify, Banking: @mercury, Payments: @stripe, Files: @googledrive, Internal email: @gmail, Extern email: @Mailchimp, Go-to Market: @Kickstarter, Task Management: @asana

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Syndicate

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8/ We've also teamed with @doolaHQ to enable DAOs on Syndicate to get legal entities and EINs, open fiat bank accounts, submit compliance filings, and issue K-1 tax forms easily and affordably. This is just the beginning of new capabilities we’ll be bringing to DAOs, together.

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Elizabeth Yin

Congrats to @HustleFundVC portfolio company Doola (formerly StartPack) on their new round! Thank you for letting us invest

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Will Papper

We use @doolahq at @SyndicateDAO

Twitter User Profile Picture

Y Combinator

Twitter Verified

YC S20's @doolaHQ is the one-stop-shop for US and non-US residents to launch a US LLC, DAO LLC, and C Corp — and today they're sharing their company formation API with the world, to enable businesses big and small to create a company from the command line.

Twitter User Profile Picture

Ankur Nagpal

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You can programmatically create a company or DAO using their API Programmatically create a business, get an EIN, get a US bank account, process payments, file taxes & more Perfect for any “business in a box” startup

Twitter User Profile Picture

Jose Rosado

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Thanks to the @StartPackHQ for helping me with this process. Check them out 👇https://rosa.do/startpack

Twitter User Profile Picture

Mary Ann Azevedo

.@doolaHQ, which describes itself as a "Business in a box" for SMBs, has raised $3M in a seed round of funding. doola provides company formation, an EIN, a U.S. address and bank account, access to U.S. payments and a tax consultation, among other things.

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Ankur Nagpal

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The good news: You don't have to be a US resident to start a company in America. If you want to start a tech startup, incorporate a C-Corp If you want to freelance or consult with your own business, incorporate a LLC This should be straightforward - use @doolaHQ & you're good

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Alex Lieberman

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I haven't started a business in 8 years. I had to rediscover the mission critical tools for starting & running a new venture. Here's the stack:LLC registration: @doolaHQ, Trademark filing: @JoshGerben, Domain registration: @GoDaddy, Website: @Shopify, Banking: @mercury, Payments: @stripe, Files: @googledrive, Internal email: @gmail, Extern email: @Mailchimp, Go-to Market: @Kickstarter, Task Management: @asana

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8/ We've also teamed with @doolaHQ to enable DAOs on Syndicate to get legal entities and EINs, open fiat bank accounts, submit compliance filings, and issue K-1 tax forms easily and affordably. This is just the beginning of new capabilities we’ll be bringing to DAOs, together.

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Elizabeth Yin

Congrats to @HustleFundVC portfolio company Doola (formerly StartPack) on their new round! Thank you for letting us invest

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Will Papper

We use @doolahq at @SyndicateDAO

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Congrats team @doolaHQ! Ya'll ship so well and are continue to make company formation a snap. Appreciate being on this journey with you!

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Love the work that @DoolaHQ is doing. Aligns with my philosophy of addressing the "talent is evenly distributed, opportunity is not" issue. More startups everywhere = good for everyone.

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Aditya Mohanty

Was blown away seeing how easy @doolaHQ makes it to start an entity in the US, completely online. If you're planning to build from India for the world, definitely watch out for this team 🔥

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Y Combinator

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YC S20’s @doolaHQ is the one-stop-shop for U.S. and non-U.S. residents to launch a U.S. LLC and C Corp — and today they're launching full support for DAO LLCs, bridging web3 and web2:

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Sahil Bloom

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💥Investment Announcement💥 Excited to invest in @doolaHQ! A business-in-a-box platform enabling founders from anywhere in the world to start their dream US business. Proud to be an investing alongside @NexusVP @ycombinator @dharmesh @ankurnagpal @anothercohen, and more!

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Alex Lieberman

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I love businesses that go long growth of entrepreneurship. @tryramp for startup spending, @doola for business formation, @carta for equity management and @Rippling for HR & IT

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Eric Bahn

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I recommend bookmarking this if you start to get serious about angel investing. LLC structures have some great benefits, thank you @arjunmahadevan for the awesome explainer here!

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Rohun

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you should be able to "start a business" without having to worry about LLCs, bank accounts, taxes, and bookkeeping. my friend, @arjunmahadevan is building this with @doolaHQ here's why it's a great biz and you should use them for the next LLC you form.

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Hustle Fund

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Congrats team @doolaHQ! Ya'll ship so well and are continue to make company formation a snap. Appreciate being on this journey with you!

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dharmesh

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Love the work that @DoolaHQ is doing. Aligns with my philosophy of addressing the "talent is evenly distributed, opportunity is not" issue. More startups everywhere = good for everyone.

Twitter User Profile Picture

Aditya Mohanty

Was blown away seeing how easy @doolaHQ makes it to start an entity in the US, completely online. If you're planning to build from India for the world, definitely watch out for this team 🔥

Twitter User Profile Picture

Y Combinator

Twitter Verified

YC S20’s @doolaHQ is the one-stop-shop for U.S. and non-U.S. residents to launch a U.S. LLC and C Corp — and today they're launching full support for DAO LLCs, bridging web3 and web2:

Twitter User Profile Picture

Sahil Bloom

Twitter Verified

💥Investment Announcement💥 Excited to invest in @doolaHQ! A business-in-a-box platform enabling founders from anywhere in the world to start their dream US business. Proud to be an investing alongside @NexusVP @ycombinator @dharmesh @ankurnagpal @anothercohen, and more!

Twitter User Profile Picture

Alex Lieberman

Twitter Verified

I love businesses that go long growth of entrepreneurship. @tryramp for startup spending, @doola for business formation, @carta for equity management and @Rippling for HR & IT

Twitter User Profile Picture

Eric Bahn

Twitter Verified

I recommend bookmarking this if you start to get serious about angel investing. LLC structures have some great benefits, thank you @arjunmahadevan for the awesome explainer here!

Twitter User Profile Picture

Rohun

Twitter Verified

you should be able to "start a business" without having to worry about LLCs, bank accounts, taxes, and bookkeeping. my friend, @arjunmahadevan is building this with @doolaHQ here's why it's a great biz and you should use them for the next LLC you form.

Twitter User Profile Picture

Y Combinator

Twitter Verified

YC S20's @doolaHQ is the one-stop-shop for US and non-US residents to launch a US LLC, DAO LLC, and C Corp — and today they're sharing their company formation API with the world, to enable businesses big and small to create a company from the command line.

Twitter User Profile Picture

Hustle Fund

Twitter Verified

Congrats team @doolaHQ! Ya'll ship so well and are continue to make company formation a snap. Appreciate being on this journey with you!

Twitter User Profile Picture

Ankur Nagpal

Twitter Verified

You can programmatically create a company or DAO using their API Programmatically create a business, get an EIN, get a US bank account, process payments, file taxes & more Perfect for any “business in a box” startup

Twitter User Profile Picture

dharmesh

Twitter Verified

Love the work that @DoolaHQ is doing. Aligns with my philosophy of addressing the "talent is evenly distributed, opportunity is not" issue. More startups everywhere = good for everyone.

Twitter User Profile Picture

Jose Rosado

Twitter Verified

Thanks to the @StartPackHQ for helping me with this process.Check them out 👇 https://rosa.do/startpack

Twitter User Profile Picture

Aditya Mohanty

Was blown away seeing how easy @doolaHQ makes it to start an entity in the US, completely online. If you're planning to build from India for the world, definitely watch out for this team 🔥

Twitter User Profile Picture

Mary Ann Azevedo

.@doolaHQ, which describes itself as a "Business in a box" for SMBs, has raised $3M in a seed round of funding. doola provides company formation, an EIN, a U.S. address and bank account, access to U.S. payments and a tax consultation, among other things.

Twitter User Profile Picture

Y Combinator

Twitter Verified

YC S20’s @doolaHQ is the one-stop-shop for U.S. and non-U.S. residents to launch a U.S. LLC and C Corp — and today they're launching full support for DAO LLCs, bridging web3 and web2:

Twitter User Profile Picture

Ankur Nagpal

Twitter Verified

The good news: You don't have to be a US resident to start a company in America If you want to start a tech startup, incorporate a C-Corp If you want to freelance or consult with your own business, incorporate a LLC This should be straightforward - use @doolaHQ & you're good

Twitter User Profile Picture

Sahil Bloom

Twitter Verified

💥Investment Announcement💥 Excited to invest in @doolaHQ! A business-in-a-box platform enabling founders from anywhere in the world to start their dream US business. Proud to be an investing alongside @NexusVP @ycombinator @dharmesh @ankurnagpal @anothercohen, and more!

Twitter User Profile Picture

Alex Lieberman

Twitter Verified

I haven't started a business in 8 years. I had to rediscover the mission critical tools for starting & running a new venture. Here's the stack:LLC registration: @doolaHQ, Trademark filing: @JoshGerben, Domain registration: @GoDaddy, Website: @Shopify, Banking: @mercury, Payments: @stripe, Files: @googledrive, Internal email: @gmail, Extern email: @Mailchimp, Go-to Market: @Kickstarter, Task Management: @asana

Twitter User Profile Picture

Alex Lieberman

Twitter Verified

I love businesses that go long growth of entrepreneurship. @tryramp for startup spending, @doola for business formation, @carta for equity management and @Rippling for HR & IT

Twitter User Profile Picture

Syndicate

Twitter Verified

8/ We've also teamed with @doolaHQ to enable DAOs on Syndicate to get legal entities and EINs, open fiat bank accounts, submit compliance filings, and issue K-1 tax forms easily and affordably.This is just the beginning of new capabilities we’ll be bringing to DAOs, together.

Twitter User Profile Picture

Eric Bahn

Twitter Verified

I recommend bookmarking this if you start to get serious about angel investing. LLC structures have some great benefits, thank you @arjunmahadevan for the awesome explainer here!

Twitter User Profile Picture

Elizabeth Yin

Congrats to @HustleFundVC portfolio company Doola (formerly StartPack) on their new round! Thank you for letting us invest

Twitter User Profile Picture

Rohun

Twitter Verified

you should be able to "start a business" without having to worry about LLCs, bank accounts, taxes, and bookkeeping. my friend, @arjunmahadevan is building this with @doolaHQ here's why it's a great biz and you should use them for the next LLC you form.

Twitter User Profile Picture

Will Papper

We use @doolahq at @SyndicateDAO

faq image

Why should I get an LLC and a business bank account?

Forming an LLC and opening a business bank account are essential steps to protect your personal assets and streamline your finances. An LLC limits your personal liability in case of legal or financial issues, while a business bank account helps you separate personal and business finances, making tax preparation easier and ensuring a more professional image for your business.

Do I need to be a US citizen to work with doola?

No, you don’t! We work with entrepreneurs from around the world to get their businesses incorporated. Don’t take our word for it, though; check out our TrustPilot Page to hear what people globally have to say about doola.

What is an LLC (Limited Liability Company)?

A limited liability company is a formal business structure (created as per state law) where the business is legally distinct from the owner(s). It may have a single owner in the case of a Single-Member LLC or multiple owners in the case of a Multi-Member LLC.

An LLC combines the perks of a corporation (protection against personal liability) and a partnership (pass-through taxation). Since the business has a separate legal existence, the members are not personally liable for the debts and obligations of the Company.

State laws stipulate how LLCs should be incorporated. Some states require specific documents, such as the articles of organization, membership agreement, etc., to be filed with the authorities.

Learn more about LLCs and how they work in FREE ebook. 

What information do you need from me to get started?

We don't need any documents to get started. We just need a few pieces of info from you:

  • Your Company Name
  • Your Personal Address
  • Phone Number and Email (For contact purposes)

Later in the process, you'll need a passport to set up your bank account.

What is an EIN?

An Employer Identification Number is the tax identification number for your organization and a requirement of many banks or institutions (such as the IRS) to carry out business in the US. Once your EIN is acquired, you can apply for business bank accounts and payment gateways. Learn more about the full process.

What is an ITIN?

An Individual Tax Identification Number (ITIN) can be used as an alternative for a Social Security Number (SSN) in some cases and is not a requirement in most cases. However, you will be required to have one if you wish to apply for a PayPal account or certain bank accounts. We walk you through how this process looks like in our guide!

Still have a question?

Schedule a free consultation with an expert from doola, today.

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