Opening an online store in the USA is a rather complicated topic, with many pitfalls. The main problem that any foreigner who opens an online business in America will face is the lack of American citizenship.
Before proceeding with the paperwork, keep in mind that the site should be filled with products and look complete! There should also be 3 documents on the site:
“Return policy of goods and funds” (Return and Refund Policy). Everything is clear here. An interesting fact, according to TrueShip research, more than 60% of buyers study this document before making a purchase.
“Privacy Policy” (Privacy Policy). According to the law, each store collecting personal data (for example, e-mail, first and last name) is required to have this document on its website. In it, you inform users what data is collected and how it is used.
“Terms of Service” (Terms and Conditions). Not necessary, but desirable. These are the rules that users must follow when registering on your site.
Note: Each state has its own policy regarding refunds. And in the UK, the buyer has the right to return the goods and receive the money within 14 days, without explaining the reasons for the return.
Receiving payments using Stripe
This method is preferred because it is the fastest and easiest. Stripe is very popular all over the world and this is one of its main advantages. It allows you to accept payments worldwide, supported by 23 countries.
Stripe is a payment aggregator, the main difference between a full-fledged merchant account and an aggregator is that in the first case, a separate bank account is opened in your name. And secondly, all sellers have one common bank account. Obtaining a merchant account is much more complicated and can take about 3 weeks.
The next step is to open a company in the USA. You can open a company in the USA using the online services MaxFillings, MyCompanyWorks, MyCorporation, Incorporate Fast and others. You will have a choice — to open a C Corporation or LLC. A foreigner cannot open S Corporation, it is only for US citizens.
The main difference between corporations and LLC is the form of organization. In corporations, ownership is determined by the percentage of ownership of shares. In LLC, there are no shareholders and no shares, but there is a percentage of ownership of the company. LLC is a little easier in terms of paperwork, less bureaucracy. But on the other hand, a corporation can exist forever, even after the death of its shareholder. The choice is yours.
Important point: do not forget to enable the service of obtaining an EIN and a “Registered Agent”. The EIN will be used further when opening a bank account and receiving a payment gateway. A registered agent is a way of communicating with the government, he receives various legal and tax documents on behalf of the company. In the absence of a registered agent, the company will be administratively dissolved and an additional fee (about $ 100) will have to be paid to restore work.
After placing an order, you will receive all documents and instructions by mail. It is required to hold an organizational meeting, issue shares and send the SS-4 form by mail or fax to the US Tax Service. And wait for the receipt of the confirmation letter about the assignment of the EIN number
