By EWN •
Published: 13 May 2022 • 9:45
The US is very appealing to international business people for a number of reasons. It is the economic center of the global economy as well as being a center of tremendous influence on the economy of the world. The US has the highest GDP of any nation in the world with the World Bank reporting that the country’s GDP was $20.95 trillion in 2020. This is projected to increase to $25.98 trillion by 2023. The US GDP is $6 trillion larger than the next biggest economy China, which has a projected GDP of $18.89 trillion in 2023. Additionally, the US GDP is considerably larger than that of the entire European Union with estimates predicting that the EU GDP will be $18.25 trillion in 2023. The US economy is so large that it represents almost a quarter of the GDP which the entire world produces annually.
The US is a generally favorable environment in which to conduct business and this is supported by the range of business entities which the country allows entrepreneurs to form. The most common business entities for entrepreneurs are LLCs and C corporations. These business entities differ in their specifics and the manner in which ownership is structured but they have one very useful feature in common. They both provide business owners with limited liability protection.
Limited liability protection means that the liability of a business is limited to the assets of the business itself. A business owner’s assets cannot be accessed by creditors in the event of debt or bankruptcy. The protection extends to business owners as well. If a business owner incurs liability in a personal capacity the business which they own cannot be accessed by creditors to satisfy the debts which the business owners owes. This is incredibly useful for mitigating some of the risk associated with establishing and operating a business. It is also important for acquiring business loans as banks almost exclusively lend to LLCs and C corporations. This is because the bank is then protected from liability which the business owner may incur in a personal capacity.
International business owners interested in establishing a business in the US to take advantage of the tremendous economy and business friendly environment will need help in this process. The laws relating to business and business formation vary by state and it can be difficult to understand how to go about forming a business in an unfamiliar country. Now, the Doola bank account and LLC formation service options are making this process simple and straightforward.
Doola is able to establish an LLC, a C corporation or a DAO LLC for international business owners as well as opening a business bank account for the chosen business entity. LLCs or limited liability companies provide limited liability protection to their owners and enable them to receive payment in US dollars. C corporations are ideal for business owners looking to raise venture capital from US investors. This includes both angel investors and institutional investors. While DAO LLCs are Decentralized Autonomous Organizations which provide a business entity as well as a fiat bank account.
To date, Doola has helped 1000s of international business owners establish their US business and business bank account. This is because of the quality of service which they provide and their efficiency as they are able to help international business owners establish a US business in less than ten minutes.
The CEO and co-founder of Doola, Arjun Mahadevan, understands the appeal of the US as a destination for business as well as the ease of conducting global business in the US, vs other countries in the world. He has stated that “there are a multitude of reasons why entrepreneurs globally, including British and European entrepreneurs are seeking US companies and US bank accounts. The US has one of the most lucrative consumer markets and the US dollar is globally accepted as currency to accept payments. The US, and a US entity, provides an alternative which is reliable and suitably scaled for British and European business owners to conduct business globally”.
Opening a US bank account and starting a new LLC in America seems to be an obvious choice and a global consensus for multi-nationals who seek an ideal platform. The US economy is enormous and provides international business owners with a ripe environment to conduct business on a global scale. US business entities provide limited liability protection which helps mitigate the risk associated with starting a business. Doola can help international business owners to establish a US business and a corresponding US business bank account. This process is efficient and reliable thanks to the expertise of Doola and their proven track record.
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