International contractors, freelancers, developers, gamers, and influencers often face many issues regarding two focal points: payments and access to job opportunities.
Unfavorable currency exchange rates and remote work distrust from employers and businesses are often key factors when freelancers lose out on potential deals. Though nowadays, there is a way for you to gain more legitimacy at a top-class, international level, secure direct payments in USD, and ultimately attract more businesses and clients to your services. If you open an American single-member Limited Liability Company in the state of Wyoming, you’ll be able to elevate your practice or business and directly interact with the biggest names in your industry.
1. Why a single-member LLC?
Single-member LLCs have only one owner and are considered pass-through entities since they don’t pay business income taxes in the US (neither at the federal level nor at the state level). If you’re not a US tax resident and your single-member LLC is only engaged in digital business from outside the US, you won’t have to worry about individual taxes either.
2. Why Wyoming?
Although LLCs do not have to pay income taxes, the tax still applies at an individual level. States such as California or New Jersey charge more than 8% in state taxes to entrepreneurs who register their companies there. While Wyoming is one of the few US states that does not charge income taxes, it also has one of the lowest renewal tax rates in the country, US$60 while Delaware is US$300 and California goes up to US$800.
3. How does having an American entity benefit international freelancers?
According to reports from Wells Fargo and CompTIA, American companies are the most profitable entities worldwide. Additionally, the different business laws and regulations in the US make American LLCs more appealing to international companies. This way, you’d be able to secure more and better deals while offering your services to big global companies.
Having a physical presence in the US will add more to your legitimacy on the global scene, plus the possibility of getting official mail on American soil. Now, the tech industry, for example, will reach the 1.8 trillion-dollar mark in revenue at the end of the year. Start your own LLC and be a part of this booming market.
When contracting Globalfy’s business packages, you can apply to have a corporate bank account (subject to approval) with Mercury. They are ready to deal with our clients, and provide support with this part of the journey. Open your own American company now!
