01Mar 2024 by ggarciadme@gmail.com
How to open a company bank account in the US?

How to open a company bank account in the US?

Business
One of the first steps that foreign companies must take when launching their business in the US market is to open a bank account. This can be complicated when the company does not have employees residing in the country or does not have a permanent physical address, something that happens frequently at the beginning of an internationalization project and even in later phases. Many foreign-owned US companies are permanently managed by non-resident staff, with occasional support from a local representative.  The availability of a US bank account is of great importance for multiple reasons: It will make it easier to get local services and be paid for sales. For example, some online markets require the availability of a bank account in the US.It is an essential element when trying to…
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14Dec 2022 by ggarciadme@gmail.com
Year-end checklist and tax planning for US subsidiaries

Year-end checklist and tax planning for US subsidiaries

Laws and regulations
Introduction Entering the last few days of the year, it is important to review as a "checklist" some aspects of a tax or regulatory nature that should not be forgotten and that affect all US companies regardless of their size and whether or not they make a profit. Some of them are especially relevant for subsidiaries of international companies or companies owned by residents of other countries. Neglecting these obligations can lead to penalties, fines, costs and headaches that could have easily been avoided. This often occurs after the creation of new companies in the US, a process described in detail in our free guide.We review the most important aspects in this article. Year-end checklist Here are some tasks that should be completed before the end of the year: Review the company's…
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07Nov 2022 by ggarciadme@gmail.com
How to manage a multilingual presence on LinkedIn, for companies and individuals

How to manage a multilingual presence on LinkedIn, for companies and individuals

Business
1. Introduction There are 190 million LinkedIn users in the United States, 71.9% of the population older than 18The online presence of any international business acting or planning to act in the US market is an essential factor that will impact the success of their strategy. We have covered in the past related topics like How to Ensure your International Company Website is Effective in the US.  Having a powerful online presence on LinkedIn is essential for any business, especially those serving other businesses (B2B). A few facts to illustrate this point: As of July 2022, LinkedIn has more than 850 million users worldwide (source: Kepios). There are 190 million LinkedIn users in the United States, which is 71.9% of the population older than 18. This percentage is much higher…
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01Sep 2022 by ggarciadme@gmail.com
How to understand US cultural differences impacting your business: Hofstede’s 6-D model

How to understand US cultural differences impacting your business: Hofstede’s 6-D model

Business
By Sheena Liang For any international executive trying to do business in the United States, one of the main challenges is learning to navigate cultural differences between this country and his or her country of origin. They can be subtle sometimes but can have an enormous impact on multiple activities including hiring and managing employees, selling, negotiating contracts, and many others. In this article, we present one of the most widely used models for the understanding of cultural differences and use it to identify the most relevant ones when comparing the United States and several other countries. It has been improved over more than 50 years through extensive research. The 6-D model, or Hofstede’s cultural dimensions theory – describes the relationship between culture, society, and individuals. This model was originally developed…
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30Jun 2022 by ggarciadme@gmail.com
What does your company do? How to make an effective elevator pitch

What does your company do? How to make an effective elevator pitch

Business Development
By Sheena Liang An elevator pitch is a professional introduction that will hopefully lead to a deeper dialogue about the value of what you and your company can offer. Why is it called an elevator pitch? The term comes from the idea that if you ended up in an elevator with someone, what would you say about you or your company on the elevator ride to start a conversation with them? In the United States, an elevator pitch is essential because people expect to learn about you or your company in a short amount of time. A successful elevator pitch should spark your audience’s interest and make them want to hear more.  In general, you can use an elevator pitch anytime when someone asks you, “What does your company do?”…
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31Mar 2022 by ggarciadme@gmail.com
War in Ukraine: Impact on international companies doing business in the US

War in Ukraine: Impact on international companies doing business in the US

Business
Introduction World attention has been focused on the very serious events that are taking place in Ukraine as a result of the attack launched by Russia on February 24. We dedicate this article to analyzing the impact that this crisis is having on international companies that participate in some way or plan to enter the US market. Some aspects such as sanctions or export restrictions can indirectly generate problems in your operations. Others are a source of potential opportunities.The United States government immediately initiated a series of punitive actions in response to the Russian attack, through executive orders from President Biden translated into concrete actions managed by the Bureau of Industry and Security (BIS) of the Department of Commerce, and the Office of Foreign Assets Control (OFAC) of the Department of…
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14Mar 2022 by ggarciadme@gmail.com
Do you know form 5472? Ignoring it could cost you $25,000… or a lot more!

Do you know form 5472? Ignoring it could cost you $25,000… or a lot more!

Laws and regulations
INTRODUCTION Creating a company in the US is extremely easy compared to other countries, it is a process that we explain in detail in our free guide. However, there are some details that must be taken into account. Ignoring them can be extremely costly. An example is form 5472 of the US tax authority, the Internal Revenue Service or IRS, which, with few exceptions, must be completed annually by foreign companies doing business in the US, as well as US companies that have more than 25% of its capital in the hands of foreign persons (individuals or legal entities), directly or indirectly. WHAT IS FORM 5472? This form is used to inform the IRS of the activities in the US of foreign companies or activities of US companies with more than 25%…
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22Feb 2022 by ggarciadme@gmail.com
How to win contracts from the world’s largest client (3): Advantages for Small Businesses

How to win contracts from the world’s largest client (3): Advantages for Small Businesses

Government Contracts
Introduction This is the third installment in the series on "How to win contracts from the world's largest client, the US Government", which started with the first article in which we talked about the structure of the government, the ways that a non-US company can use to access this gigantic market, the initial procedures that must be followed, types of government contracts and aspects to take into account when preparing bids.In the second article we deal with the applicable regulations that must be taken into account, how some of them are barriers to entry of special relevance to international companies or their US affiliates, and what solutions can be used to cross them.In this third and final installment of this series, we focus on analyzing the advantages that small businesses can…
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28Jan 2022 by ggarciadme@gmail.com
Incorporate in Delaware? Myths, realities and the Delaware flip

Incorporate in Delaware? Myths, realities and the Delaware flip

Business
Introduction Delaware is a small state on the East Coast of the US, not far from major metropolitan areas (Washington DC, Baltimore, Philadelphia and New York), with less than 1 million residents. Its largest city is Wilmington, with a population of around 71,000. Apart from being the home state of President Biden, a proud Delawarean, it is famous for some advantages offered to businesses. When establishing a subsidiary in the US, one of the main decisions that international companies need to make is which state to choose. There are many implications that need to be analyzed carefully. Unfortunately, there is quite a bit of misinformation regarding pros and cons of the different options. A lot of it is connected with the alleged advantages derived from setting up the business in…
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01Dec 2021 by ggarciadme@gmail.com
3JIT and Anzen Engineering select Markentry USA as partner for US market entry

3JIT and Anzen Engineering select Markentry USA as partner for US market entry

Business
3JIT, Anzen Engineering and Markentry USA today announced the signature of a strategic collaboration agreement. Thanks to this agreement, Markentry USA will act as local partner in the United States for market analysis, strategic planning and business development support in order to optimize the development of Anzen Engineering’s business in the US market, initially in the area of RAMS engineering for the Urban Air Mobility (UAM) market. Through this partnership, Markentry USA will use its strong background in US market entry and the aerospace business to help Anzen Engineering design and implement a successful strategy to increase its portfolio of international customers and serve new clients in the United States, a country that currently offers massive opportunities and growth in UAM.  3JIT is a consulting company with the purpose and firm commitment to the added…
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