{"id":3390,"date":"2024-05-15T16:01:05","date_gmt":"2024-05-15T14:01:05","guid":{"rendered":"https:\/\/digitalizeglobal.com\/?p=3390"},"modified":"2024-09-13T09:28:05","modified_gmt":"2024-09-13T07:28:05","slug":"ein-interview-mit-llc-gruender","status":"publish","type":"post","link":"https:\/\/digitalizeglobal.com\/en\/an-interview-with-llc-founder\/","title":{"rendered":"An interview with LLC founder"},"content":{"rendered":"
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Below you will find an interview with an LLC founder who wishes to remain anonymous.<\/h2>\n<\/div>\n<\/div>\n<\/div>\n

Can you tell us about your decision to set up an LLC company in Wyoming, USA, as an EU citizen?<\/h3>\n

For me, as an EU citizen with a varying monthly income, setting up an LLC in Wyoming, USA, was the best option to secure my livelihood in the long term. The LLC structure offers the advantage of limited liability, which is particularly important as in the EU the threat of lawsuits and overwhelming bureaucracy can threaten the existence of many businesses. I didn't have the financial resources for expensive lawyers, but I still wanted to appear professional like a serious company. There were certainly competitors who had their eye on me and were keen to undercut me.<\/p>\n

What advantages do you see in founding an LLC in the USA compared to other legal forms or locations?<\/h3>\n

The decision to set up an LLC gave me numerous advantages compared to other options. Whereas in the EU, high taxes and social security contributions would have placed a heavy burden on my financial resources, and normal self-employment is not enough to limit liability, which seems less serious for customers, the Formation of an LLC in the USA<\/a> the opportunity to save my income more effectively and run my company with fewer bureaucratic hurdles. In addition, setting up a company outside the EU offers greater freedom. The LLC structure in the USA brought considerable administrative simplifications compared to founding a company<\/a> in the EU. The start-up formalities were much less complicated and less expensive. In addition, there were no ongoing accounting and reporting obligations during the start-up phase, which saved me an enormous amount of work and time as a sole trader. Costs<\/a> saved.<\/p>\n

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I would actually rate it as stress-free, but it has to be mentioned that I have the Foundation via a foundation agency<\/a> and not independently.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

Can you tell us more about how anonymity works with an LLC in Wyoming and how it affects your business?<\/h3>\n

The anonymity of an LLC, especially in Wyoming<\/a>This is ensured by registering a registered agent as a director instead of the founder. This practice is extremely practical if, for example, you want to keep your own name in the background, mainly after insolvency or to keep the competition at bay.<\/p>\n

Tax optimization was the decisive factor for me. And not every customer needed to know that I was working alone in the company. Setting up an LLC in the USA allowed me to grow slowly without having to give up all my income immediately, which would have jeopardized my professional existence and thrown me back into unemployment.<\/p>\n

What role did the unrestricted use of company funds play in your decision to form an LLC?<\/h3>\n

The unrestricted use of company funds was another important aspect of my decision to form an LLC. I had a main account for business activities and a separate sub-account from which I could also pay for food or software such as Photoshop. While in the EU certain legal requirements and restrictions would have affected my entrepreneurial decisions, the LLC structure in the USA<\/a> more flexibility and control over my business activities. The separate sub-account for personal expenses brought decisive tax advantages. Since living expenses are considered business expenses in the USA, I was able to virtually deduct these costs. tax-free<\/a> from the company's profit. In the EU, these expenses would have had to be paid from already taxed private assets.<\/p>\n

Although the Founding a company in the USA<\/a> was an optimal solution for my financial situation, I also considered other options. Setting up a company in the EU might have given me easier access to certain contracts, but the higher tax and maintenance costs could have jeopardized my financial stability.<\/p>\n

What experiences have you had with the banking system in the USA, particularly with regard to the automatic exchange of data with other countries?<\/h3>\n

My overall experience with banking in the US was positive and supported my decision to form an LLC. And nothing has changed so far!<\/p>\n

How did the fact that US banks do not have automatic data exchange with other countries influence your decision to set up an LLC in the US?<\/h3>\n

The fact that US banks have no automatic data exchange with other countries<\/a> gave me the opportunity to build up my business step by step. In the early stages, I was able to keep my earnings in the company, which gave me the liquidity I needed to start my business successfully. Once I had earned enough, I was able to use the services of a tax advisor to fulfill my tax obligations correctly.<\/p>\n

Founding an LLC in the USA was also a strategic decision to protect my business interests in the long term. The legal and economic framework in the USA offers a stable basis for entrepreneurial growth and development. In some cases, a US company enjoys even greater trust in the creative industry than an EU company.<\/p>\n

Can you tell us more about how tax collection works for cross-border services in the US compared to the EU and how this benefits your business?<\/h3>\n

The handling of taxes for cross-border services in the USA was another important<\/a> factor in my decision. Compared to the EU with complex tax rules and high tax rates, the US tax policy offered me a simpler and more transparent solution. It is not mandatory to charge, collect and remit VAT from EU customers if you have a US company.<\/p>\n

What advice would you give to other EU citizens who are thinking about setting up an LLC in the US, especially with regard to the issues mentioned above?<\/h3>\n

My advice to other EU citizens with similar financial challenges<\/a>The advice to other EU companies, particularly in the creative industries, is clearly to consider US LLCs and to consider incorporating in the US. My urgent advice to other EU citizens is to consider the advantages of a US LLC very seriously - mainly the aspects of limited liability<\/a>low fees, high flexibility in the use of funds and the advantage of a good reputation. These factors can be particularly important for Sole proprietor<\/a> and freelancers in the creative industry.<\/p>\n

Is there anything else you would like to share with our readers about your experience of setting up an LLC in the USA?<\/h3>\n

In conclusion, I would like to say that setting up an LLC in the USA can be a brave decision, but it can pay off in the long run. In the beginning, I was a little skeptical whether it was really that easy and good to incorporate in the US, but after 3 years I can say it absolutely was! This step has changed my life positively and opened up new opportunities for professional and personal growth. I have come out of unemployment thanks to this decision, pay my taxes in my current tax domicile and can afford other expenses as well. The LLC structure allows me to be professional, attract large clients and gives my one-man operation the prestige and credibility of a large company.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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