Top Tips on Setting-Up in the US from Kingston Smith
Posted in Events, News, tagged with Seminars, on February 26, 2018
We are often asked for advice on setting up in the USA. There are many factors to consider, from business structures to tax and complex choices that will have a significant effect on your finances – including some watch outs about pitfalls that are very expensive.
We organised a presentation, that took place last Tuesday, from our accountants and sponsors of the APA Show, Kingston Smith because they have substantial experience of helping APA members set up in the US and an LA office advising many of them on tax and business issues.
Demand was high, with over 60 APA members attending and it was a very useful session, on business structures and tax, which also touched on immigration. Below are some top takeaway from Graham & Mike.
TOP TIPS FROM KINGSTON SMITH
Graham Tyler, Partner
Work out why you want to open in the US and why you will be successful.
Keep initial costs/overheads tight.
Consult experts on issues such as structure, immigration, unions.
Mike Hayes, Partner
A C corporation is likely to be a more appropriate US entity than an LLC.
Consider the overall structure and the benefits of having a non-trading UK holding company to own all trading entities.
Business owners should be wary of the consequences of moving to the USA, especially in terms of potential capital gains tax on an exit.