What are some of the pitfalls that companies make at this stage when they are setting up the company?

The most common is that many entrepreneurs attempt to do this by themselves. It is very important to have good legal and accounting advice right from the very beginning.

Some pitfalls that tend to occur: 

• Selecting wrong business structure
• Selecting the wrong state
• Not speaking to US based attorney and/or accountant 
• Staying compliant on an ongoing basis 
• Failing to understand State and Federal tax laws 

But at the same time, there are some things that you can do themselves. And we will always point you towards those things that we feel that they can handle by yourselves. For example, oftentimes forming a single-member LLC is not too complex and it can be done through online sources.

‍Get in touch with our Open Shop experts at hello@base.miami to discuss your individual requirements so we can ensure you meet all the legal requirements and understand all the additional hurdles in starting a US business.