In many countries throughout the world, it is the dream of entrepreneurs to come to the United States to start a business. Many work for years with family members to get the funds together to do this and there comes a time when they finally feel they have the wherewithal to start a company. Unfortunately, there is more to it than just having the money to launch a startup. There are rules and regulations as well as local customs that should be considered and the entire process can be time consuming and frustrating without proper legal advice. Here are a few tips for foreign investors looking to launch a new business in the USA.
Finding Your Niche
Although the Internet has given people around the globe a more realistic view of what life in the US is really like, there are still many laboring under false impressions. No, the streets aren’t paved with gold and no, everyone isn’t rich. In the eyes of some third world countries it may appear to be so but in reality the United States does see its fair share of homeless and starving individuals. It’s a sad fact of life. Because there is still a great deal of misinformation out there, it is important to find your niche before applying for a business license in this country. It is important to know if the market you intend to set up in has a call for your product and services. One city is not the same as the next, so make sure to look at the basic principles of ‘supply and demand’ before determining a location.
Investing in a Company Does Not Give You the Right to Live Here
Another problem which many foreign investors encounter is in their way of thinking. Many believe that by starting a company here in the United States they will have the liberty to come over and reside here as well. This isn’t true. Corporate Immigration attorneys at Hirson Immigration can offer the legal advice you need but in keeping with EB-5, there are two main guidelines which must be met:
- A predetermined investment in a US corporation
- Putting at least 10 US citizens to work at the company
EB-5 was legislated in the early 1990’s to encourage investments in the United States, but for several reasons these requirements were put into place. Of note is the fact that hiring workers does help to stimulate the economy and that is why EB-5 was instituted in the first place.
One thing you will find is that the United States is a melting pot of cultures from around the globe. People of all religions, races, nationalities and ages are living side by side. It really is possible to set up a lucrative business here but you first need to meet a few ground rules. Once you understand this, you can start and grow a business just as easily as Americans. It’s all about learning the ropes and a good immigration attorney is there to help you do just that.