Re: Should I Open a Business in the USA (EU- Foreigner)?

Solved

Should I Open a Business in the USA (EU- Foreigner)?

johny
Tourist
3 0 10

I currently leaving in Cyprus and have set up my Shopify store using my local address. This situation presents some challenges, such as being unable to use Shopify Payments and encountering issues with currency conversion. I'm using a third-party payment service provider, Stripe, which results in my European customers (UK, FR) being charged in USD,  currency view as well in USD (only USD for view and payments) for all markets. I can’t work like that. 

 

I've been using Shopify for a month and this currency issue has become apparent. I'm now considering opening a business in the United States to potentially resolve these issues.

 

Could anyone provide insights on the following:

 

  1. Is it feasible for me to open a business in the United States while residing in Cyprus?
  2. What are the requirements and costs associated with opening a business in the U.S.?
  3. What is the easiest business type to set up in the U.S. for dropshipping?
  4. What are the pros and cons of operating a Shopify store with a U.S. business address?
  5. Are there any additional issues I might face on Shopify without a U.S. business address?

Any advice or experiences would be greatly appreciated. Thank you!

Accepted Solutions (2)
rajimulislamjoy
Shopify Partner
415 41 73

This is an accepted solution.

@johny 

Hello mate,

 

Thank you for your reply. For your Shopify store, you will need a bank account, an LLC, and a Tax ID number. All major banks offer similar services, but it's worth comparing them. Transferring money from a U.S. bank to an EU account is generally straightforward, though fees can vary. LLCs do vary by state in terms of regulations and benefits, not just price. New Mexico is cheaper, but you should consider other factors like privacy and reporting requirements. I can suggest reliable LLC providers if you need. The process usually takes a few days to a few weeks, depending on the state and provider.

Please don't forget to Like & Mark Solution to the post that helped you. Thanks!
If you'd like to support me, you can Buy Me a Coffee
Need a Shopify Designer or Dropshipping Expert ?
Hire us at WhatsApp! For Shopify Design | Shopify Customize | Dropshipping

View solution in original post

rajimulislamjoy
Shopify Partner
415 41 73

This is an accepted solution.

@johny Sure! For LLC providers, consider options like LegalZoom, Incfile, ZenBusiness, and Northwest Registered Agent. These companies are well-regarded for their comprehensive services. While I don't have personal experience with BusinessRocket LLC, they do have a solid reputation, so it's good that you're in touch with them. For the region, Delaware is highly recommended due to its business-friendly laws, robust legal system, and strong support resources. While it may be more expensive, Delaware offers significant advantages for businesses looking for reliable and comprehensive support. Always ensure to check reviews and compare services before making a decision.

Please don't forget to Like & Mark Solution to the post that helped you. Thanks!
If you'd like to support me, you can Buy Me a Coffee
Need a Shopify Designer or Dropshipping Expert ?
Hire us at WhatsApp! For Shopify Design | Shopify Customize | Dropshipping

View solution in original post

Replies 6 (6)

rajimulislamjoy
Shopify Partner
415 41 73

@johny  Yes, you can open a U.S. business while residing in Cyprus. To do so, form an LLC, get a registered agent, obtain an EIN from the IRS, and possibly a U.S. mailing address. Costs range from $300 to $1,000. An LLC is the easiest for dropshipping. Pros include access to Shopify Payments and easier currency conversion, while cons involve additional paperwork and tax obligations. Without a U.S. business address, you may face payment and shipping challenges on Shopify.

Please don't forget to Like & Mark Solution to the post that helped you. Thanks!
If you'd like to support me, you can Buy Me a Coffee
Need a Shopify Designer or Dropshipping Expert ?
Hire us at WhatsApp! For Shopify Design | Shopify Customize | Dropshipping
johny
Tourist
3 0 10

Hello mate, 

 
Thank you for your reply. 
 
What exactly do I need for my Shopify store? Do I need a bank account, LLC, and Tax ID number? Which bank should I choose—do all major banks offer similar services? Is it easy to transfer money from a U.S. bank to an EU account or any other account in my name? What about transfer fees?
I've also noticed that LLCs vary by state. Other than price, what are the differences between them? For instance, I see that New Mexico is cheaper—are there any differences other than cost? Can you suggest reliable and stable LLC providers? Also, how long does the process usually take?
rajimulislamjoy
Shopify Partner
415 41 73

This is an accepted solution.

@johny 

Hello mate,

 

Thank you for your reply. For your Shopify store, you will need a bank account, an LLC, and a Tax ID number. All major banks offer similar services, but it's worth comparing them. Transferring money from a U.S. bank to an EU account is generally straightforward, though fees can vary. LLCs do vary by state in terms of regulations and benefits, not just price. New Mexico is cheaper, but you should consider other factors like privacy and reporting requirements. I can suggest reliable LLC providers if you need. The process usually takes a few days to a few weeks, depending on the state and provider.

Please don't forget to Like & Mark Solution to the post that helped you. Thanks!
If you'd like to support me, you can Buy Me a Coffee
Need a Shopify Designer or Dropshipping Expert ?
Hire us at WhatsApp! For Shopify Design | Shopify Customize | Dropshipping
johny
Tourist
3 0 10

Thank you very much for your answers.

Could you please suggest some LLC providers? I am currently in touch with BusinessRocket LLC. If you have any experience with them, please let me know. Also, could you recommend a region for establishing the LLC where I might pay more but have access to all the necessary resources and support?

Thank you!

rajimulislamjoy
Shopify Partner
415 41 73

This is an accepted solution.

@johny Sure! For LLC providers, consider options like LegalZoom, Incfile, ZenBusiness, and Northwest Registered Agent. These companies are well-regarded for their comprehensive services. While I don't have personal experience with BusinessRocket LLC, they do have a solid reputation, so it's good that you're in touch with them. For the region, Delaware is highly recommended due to its business-friendly laws, robust legal system, and strong support resources. While it may be more expensive, Delaware offers significant advantages for businesses looking for reliable and comprehensive support. Always ensure to check reviews and compare services before making a decision.

Please don't forget to Like & Mark Solution to the post that helped you. Thanks!
If you'd like to support me, you can Buy Me a Coffee
Need a Shopify Designer or Dropshipping Expert ?
Hire us at WhatsApp! For Shopify Design | Shopify Customize | Dropshipping

yejate
Visitor
2 0 12

To offer your customers a wide range of payment methods via Stripe, regardless of the location of your Shopify store, check out this solution https://lnkd.in/dtia-EBS

 

This solution supports multi currency.

 

And article >> https://www.linkedin.com/pulse/boost-your-uk-shopify-sales-accept-various-payment-methods-6gnnf