Has anyone got an LLC in the USA as a British Citizen ?

[anonymous-user]

So thanks to GDPR ruining landers I am thinking of switching all my business interests to US only.

If I get a payment from a US company into my UK bank it currently takes ages. I really need a US bank account. I presume this means I need a US LLC?

If I were to open an LLC or an S-corporation, does anyone know the tax arrangements? Do I pay 20% corp tax to the USA? Or to the UK (because they have a tax treaty?) or to both? And what about income tax on the dividend?

I am unlikely to even visit the USA let alone live there.

Thanks

[StevieBee]

I don't think there's any reason why you need a US company. You can open a USD account with your bank in the UK. We have one and a EUR account and transfer to sterling when the rates are in our favour or when we need the cash. There's no restrictions in doing this and if your customers take a long while to pay, that won't be affected either way by where you have your account.

[silobass]

If you want to take USD as payment, you can use Transferwise. They'll give you bank details to accept payments into.

[The Moose]

You don’t need a US LLC/Corp/Other Entity if you are only doing simple banking (unless you want to for another reason of course).

You do however need to be here or have an agent here - they’re not very good at doing things remotely.

The tax situation can get extremely complicated, unnecessarily so most of the time, and I would advise against it unless you need it.

If you need some help from here, shoot me a PM on here.

[anonymous-user]

silobass said:

If you want to take USD as payment, you can use Transferwise. They'll give you bank details to accept payments into.

Worldfirst too