Always warm, Ocean, beach, vacations, cheerful life and entertainment. is Florida, which everyone knows.
Many who also picks up Florida as State pensioners, and very little comes to mind to explore and understand the economic side of Florida as a State for business.
It is about the conditions for business in Florida and will be discussed in this publication from GrowGrow.
So, if Florida was a separate State, it would have ranked 19 in the world among all national economies. In the United States is this 4th on the economic potential of the State, and largest-even third. In addition, according to Tax Florida Fundation is 5-first State of America with the most attractive tax climate (there is no income tax and corporate profit tax is only 5.5%, which is 62% lower than in California, for example).
According to Fast Company, Florida is the No. 1 State for innovation, according to the rating of Business Facilities, this is the number one State for infrastructure, and according to the Chief Executive, it is the number one State for business. In addition, Florida State is no. 3 largest exports of high-tech products.
If you look at Florida in terms of international relations, it is worth noting that the size of the State's foreign trade is about $ 158 billion, to more than 5 million of the 19 million residents of the State of English is not the native language, and here 300 regional (or central to North and South America) to major international corporations. Every fifth American exporter (think about those numbers) calls Florida his "second home".
Thanks to the exclusive (and all growing) logistics capabilities, Florida is a kind of bridge between the United States and the rest of the world. Through its ports and airports, leaves in particular, 40% of all us exports to Latin America. (That's why, if you are considering opening a company in Florida, it is right to explore the possibilities of expanding into markets in Latin and South America. That and many famous brands.)
Think for the future? With Florida can be delivered to the nearby planet, here is two famous spaceport. And while you may well run out 19 commercial service airports, 15 deep-water ports, more than 20 thousand. km of high-speed tracks with perfect grip. And more than 15 thousand. km of railway track for the carriage of goods.
The key industrial sectors of Florida
This, of course, space and aviation, followed by biotechnology and pharmaceuticals, defence and security systems, production, information technology, financial and professional services, logistics and distribution, as well as clean technologies.
Florida State is no. 3 on the embedded IT. In the information technology sector employs 26 thousand. companies and over 265 thousand. specialists.
Medicine and biotechnology is a huge industry in Florida. There are 580 companies all sorts of devices and equipment for human health (State no. 2 in this direction in America), over 200 major pharmaceutical manufacturers (according to this index, Florida on 3-th place) and over 250 companies working in the direction of research and development (R&D) on biotechnologies (No. 8 place among u.s. States).
More than 2000 companies and 87th. specialists in Florida work in aviation and space industry, which in scope and level of development occupies the second position.
Continuation of topic should be. In the meantime, why not say "Florida is not as it seems?
Almost forgot, we also provide the opportunity to http://growgrow.us/florida-invest-basic/
You have registered the company in the United States. What's next?
On a number of steps that will allow you to conduct business on behalf of your company, as well as to legally avoid some trouble when dealing with the United States market.
1) you need to get a business license
Business license is issued by the city or county level according to your company address (depending on the State in which you registered company).
Also, depending on the location of your company does license registration fee (payable annually).
If you plan to do business from home, you must make sure that the area in which you reside. zonirovan under doing business at home.
Even if you don't plan to take home their clients, but only use a home postal address for business purposes, you need to pay a license fee to the city.
2) State License
For some activities need a license of the State, be it any kind of professional services (lawyer, accountant, cosmetologist)
or even just providing services on kotraktu.
Registration at the State level, provides for the payment of your sales taxes and taxes on the use.
3) Federal licence
For specific types of businesses, which include regulation at the federal level (e.g., transportation, production of alcohol or tobacco products, cooking the meat products, the provision of investment tips) requires a federal license.
For more details about what types of activities are not possible without federal licenses, please visit the small business administration website (Small Business Administration)-www.sba.gov.
4) DBA or fictitious company name
Verbatim DBA is Doing Business As (title), and you need it if you plan to do business under a different name than the name of your company. In order to get a fictitious company name and use it legally, you must fill out a form and submit it for consideration (together with paid by cheque for a fictitious company name registration service) in the body of the State or County (in Florida, for example, this is done at the State level).
5) EIN or Tax ID
EIN (Employer Identification Number), it's the same Tax ID number-a sort of "Social Security number" for your business. It identifies your business on government documents, and is necessary if you have a salaried staff are planned, whether you have korporaiû or partnership, file your tax reporting and offer all types of pension plans. Moreover, your EIN you will require your contractors.
6) certificate of legal capacity
Certificate of legal capacity Certificate of Good Standing is also known as a certificate of existence ("Certificate of Existence"), or authorization Certificate ("Certificate of Authorization").
This document shows that your company is subject to an authorisation to conduct business in the State in which it is registered (created), in accordance with the laws and regulations and as of the current date is able to pay all required payments to the State, and shiitake filed all the necessary paperwork to the organs of the State.
GrowGrow experts will help you go through all the stages of the path to establish and maintain the legal activities of your American company (in Florida). For More Details-Click Here.
Why company in United States and what tasks you can perform for the growth of your business, click here.
Choose an LLC or Corporation, if the non-resident owner, read the next publication.
Florida is called the Sunny State, however, her second name could be something like “Nizkonalogovyj”. Firstly, Florida is the only State in the United States in the East of the country (East of Mississippi River), where there is no income tax (seven such States). Secondly, the sales tax here is almost at the level of the average American. Of course, there are some types of taxes, such as tax on gasoline or alcohol, which strongly higher compared with those in other States, but they don’t make “weather” If you posmatrivaete at Florida as a place to start their business in the United States or the founding of the American company.
As you already know, most likely taxes on corporations in the United States can be divided into three levels:
- Federal taxes
- State taxes
- Local taxes.
Federal taxes are the same for all corporations in all States in the United States. Taxes paid from the net profit. Income minus consumption = net profit.
These regulators business are States, whereas business regulation at the federal level to the minimum. Each State has its own corporate legislation which is often very different from State to State. And lawyers and Certified Accountants (CPA) are most often specialize in one particular State, but in order to legally work for each State they need to pass exams and get a license (which, again, applies to a specific State).
In this paper we will focus on the specifics of Florida taxes, without a goal to give comprehensive information, which, however, seems unlikely, given that United States tax law is pretty tough, about 11 thousand pages, each year there are changes (changing around 3% of normative documents regulating the payment of taxes).
Reporting thereon must file all corporations registered in Florida.
It is calculated using federal taxable income, which is modified under certain amendments of the State of Florida to determine confirmed federal income.
Corporations that conduct business outside the State can proportionally reduce the size of taxable income. To do this, use a special formula to calculate the percentage of the taxable income of the Corporation in addition to the earnings of the Corporation you must add your other nebiznesovye income in Florida.
In General, the taxable base for the calculation of corporate income tax can be reduced by $ 50.000. Further, 5.5% of this base and will be directly the size of this tax.
As we have already said, the personal income tax in Florida is not, which is one of the advantages of this State.
Sales tax in Florida is 6%. In addition, some counties also collect own
trade taxes, which typically range from 0.5 to 1.5%, which means that actual sales taxes may be in some cities up to 7.5%. However, the average sales tax in Florida is 6.62%, Florida is located on the 29-th place among all States. It is also worth noting that at the urban level sales taxes in Florida no (which cannot be said of California, for example).
Although most consumer goods are subject to sales tax accrual, however, the majority of foodstuffs and medicines, by contrast, are not subject to tax data.
By the way, as in most States, in Florida you must also pay the so-called tax for use. This means that if you bought the product outside the State and have not paid tax for it when buying, you must declare it in the Department of Revenue in Florida (Sales and Use Tax Return).
The average effective tax rate on property in Florida amounts to 1.1% of the market (estimated) value of the object. Largest state of the tax is on the 19-th place on the United States.
Real estate tax-is the only one who uplačaivaetsâ at the district level, which may vary depending on the location of your property. So, in the County of Miami-Dade County, for example, the effective tax rate-1.27% of the appraised value of the home. This means that, for example, if your home is valued at $ 300.000, each year you will need to pay with him $ 3.810 tax.
Florida also collects a special tax on the use of the services of telephony, Internet and television. Tax is 9.17% of these consumer services pays 6.65%, else directly pays the service provider. Satellite communication services in Florida are subject to even greater tax-10.8%.
In addition, Florida has one of the highest in the United States on fuel tax rates. So state residents pay tax for each cent 36.42 a gallon of gasoline. Also high taxes on beer (9-th largest in United States) and alcohol (19-th largest in the United States). As far as this is critical to open company/doing business in this State for you-you decide.
By the way, with Florida year December 31, 2014 no inheritance tax, and this is what adds bonuses to this State.
500 thousand dollars for you no problem, but a dream move to United States family overcomes? And you, of course, already aware of the immigration program for the EB-5 investors?
The truth about which very few people said-that the successful passage of immigration statistics the way EB-5 investors have been steadily deteriorating. And now, in the first quarter of every fourth investor he was denied at the first stage of approval of the petition leading to obtain a temporary green cards, after waiting an average of 1.5 years before the -2 moments, people simply had to "go the distance" and start all over again (with another lawyer and Centre), choose a different path or even abandon their American dream.
Immigration attorneys called such a frequent cause of failure as the inability to prove the legality of origin of foreign investor funds (one of the basic requirements of the program). (Miss that many of them take up such cases and underestimate the risks to their customers.)
However, the other two reasons why your way EB-5 can be disastrous-1) bad choice of a regional investment Center (or direct investment), 2) bad timing of an immigration lawyer. Well, high risk case where bad and so, and with the other, otdeal′no will not be considered. And on the first and second order below.
In June, 2016. in the United States recorded 838 regional investment centres. The overwhelming majority of them do not have projects and Moreover, experience the passage of their customers the way to grinkarte. The same regional centres that have projects, experience of receiving green card investor and the return of investor money on your fingers. Lack of experience is the problem anyway. Much more problems due to the fact that the regional centres themselves often do not end up properly evaluate their projects, time and possibilities for their implementation, and especially, no one is immune from fraud.
Evidence of fraud on the part of regional investment centres already so much that the United States citizenship and Immigration Service jointly with The U.S. Securities and Exchange Commission's Office of Investor Education and Advocacy released a special reminder EB-5 investors.
Be sure to take this as a reminder, if you plan/have already started their way to the United States permanent resident status through an immigration program for EB-5 investors:
- Find the confirmation that the regional centre created the USCIS
- Get copies of documents that the regional centre was preparing for USCIS
This is an initial application Form I-924, to obtain the approval of the citizenship and Immigration Service and addition thereto I-924A, which is served in a service at the end of each calendar year.
- Request investment information in writing
- A copy of the memorandum with the invest proposal
- Get an independent review: compare this project with similar
- If you do not understand until the end of the project details, do not invest.
- Ask for information about the promouterah of this project/regional centre
- Attorneys, consultants, agencies receive commissions from the Center,
- Be skeptical, if what they say is at odds with data invest memorandum and documents.
- Look for opportunities to independent verification project
- Evaluate structural risks
- Than secured loan? (Your investment?)
- Rate material investments in the project by the developer
- If the developer and does not invest in regional centre project together, the project at risk.
8.1. The promise of guaranteed receipt of EB-5 and permanent resident status (also guarantees to date)
8.2. Guaranteed return on investment and a lack of investment risk
8.3. Guarantees great profitability project
8.4. Unregistered investments
(Can be registered in the USCIS Center, rather than this particular invest project. In such case the issuer will not be able to provide full information on the project)
8.5. The law firm has the same owner as the regional centre/persons involved in project management.
The RIGHT IMMIGRATION ATTORNEY on EB-5-not less significant for successful passage of immigration path.
Until today the way the majority of those who took the decision on the EB-5 on osago began with an immigration lawyer (due to a complete lack of professional EB-5 agencies in Eastern Europe and the CIS). The following highlights that you should pay close attention before you start working with an immigration lawyer. (However, if you have already started your path, but in doubt, change a lawyer sooner rather than later, for a number of reasons, and the most important is to save your nerves, time and money).
Experience an immigration lawyer in EB-5?
Over the past year from across Eastern Europe and the CIS, immigration path on EB-5 picked only about 45 investors (!). In this case, only in the AILA Immigration Lawyers Association United States-more than 13 thousand members (!), and this despite the fact that not everyone includes immigration lawyer. So do not believe assurances from immigration lawyers (especially those who work exclusively or primarily with the Russian-speaking audience), that they have exceptional experience in EB-5. For the majority of your case may be the first (However, even if it is 3rd or 5th that, in principle, it is impossible for the lawyer, oriented towards Eastern Europe and the CIS, chance of napartachit he big set).
Significantly greater experience of immigration lawyers who work with China, Asia in General (from there come the absolute majority of EB-5 investors), with South America.
2. Experience as a lawyer in General
When your Russian counsel alleges a specialization on EB-5, he most likely throws wishful thinking. Specialization in extremely narrow niche-dangerous.
You can believe in good Russian-speaking immigration lawyers who work on popular destinations of immigration (e.g., L-1, political asylum, etc.), but those who have sufficient experience in the EB-5 and even e-2-statistics show that can not be.
Another equally important factor is the experience of practice. It is clear that the EB-5 program is extremely young, and a few years ago it was in principle a few people. But a lawyer with experience in the 10-20 and more years have the most experience, practice solving various cases at the end of the day, he knows how to behave with the client in the most unusual situations. He has more field to create new effective solutions if something goes wrong in the end.
Young lawyers, in contrast, often have drive and charm, but this is the first serious difficulties with your case.
3. Unprecedented discounts
Discount-that's fine. But if you run the risk of at least half a million dollars and two-pât′ma years of their quality of life, is the latest discounts, based on what you have to make a decision about choosing an immigration lawyer.
It is on the contrary a sort of "red flag": lawyer goes on big discounts to get you as a customer? Trust him (s) its fate can be a big mistake.
4. Timeliness of responses
A good lawyer-busy lawyer. If your immigration lawyer instantly responds to your emails or phone calls, write. That means it has no customers, and you are his only "victim", which he leads. The work of the lawyer is the courts, Court, regional centres and professional events, again.
For the reasons in paragraph. 4. have claimed an immigration lawyer in the United States usually have no time you persistently declining to sign the contract.
6. "Too beautiful biography" and deception in positioning
How to become a lawyer in the United States? Well, for a start to finish 3-x 1-year law school program. Yes, just 3 years old, and you already get the degree of Juridical Doctor. The truth is that this degree has nothing to do with the Russian-speaking world the term "doctor of legal sciences", which includes research, doctoral studies, publications, seniority and experience. Moreover, the level is even lower than the master's degree.
Nevertheless, many lawyers working with the Russian public, lie not blushing, attributing to his biography of Dr. Jur. Sciences ".
The Americans, however, on the contrary, believe that if the Attorney ascribed to his name the title Doctor of the Juridical means, most likely, he did not receive a license in the State. This experienced lawyer never ascribe to himself that he nedoadvokat, but something like master bar.
The EB-5 program is still an attractive way for getting EB-5. There is even a premise that the number of immigrants from Eastern Europe and the CIS that are coming this way, significantly grow. But for this to happen, it's time for the emergence of a fundamentally new quality of service for EB-5 investors from the region, and investors need to approach to a choice of the representatives of the regional centres and lawyers, as well as to perform all phases of EB-5 with maximum responsibility.
This material is solely informational function and is not advice or even more so, advertising or selling any products.
Any republication of this material without an active link to growgrow.us and growgrow.us written permission is prohibited.
EB-5 visa-a way to get a green card and permanent resident status through investment.
The investment allows you to become lawful permanent residents of the United States for the investor's spouse and unmarried/unmarried children under the age of 21, 2011.
State structure-the program operator-USCIS (United States citizenship and Immigration Service).
The EB-5 program started by the Congress of the United States in 1990 g. in order to increase investment in the economy of the United States.
- Investment in generating profit in Targeted Empoyment Area (TEA)-from $ 500 thousand to objects that do not reside on the territory of the TEA-$ 1.000, 000000.
- The creation of 10 permanent jobs with full time for at least 2 years
Quota-10 thous. EB-5 visas per year.
- Own investment project (direct investments)
- Draft ICANN USCIS regional with the creation of 10 direct, indirect or induced investment jobs (full-time)/1.
According to the 2014-2015 timeframe. 98.3% EB-5 investors preferred to invest in projects of regional investment centres direct investment.
However, for the first quarter of 2016 g. every fourth investor had been denied at the initial stage, when filing the I-526 petition approval which leads to obtaining a temporary green card. Given the fact that investors should wait a year and a half from the beginning of the work with an immigration lawyer and (most commonly) Regional Centre, it is a colossal waste of time as well as money for attorneys ' fees and administrative fee to the Regional Centre (averaging around $ 80 thousand). In addition, there are risks of loss or partial loss of the amount invested.
The main reasons for the failure of investors and as a result, the growing frustration in the program-1) low-quality draft regional investment centre, 2) bad immigration lawyer (little experience, qualifications, personal qualities, working "in tandem" (for a fee) of dubious regional centre, etc.
This publication lists GrowGrow.US questions, which it is important to set regional investment centre, in order to decide whether or not to work with him. As we have already mentioned, currently in United States registered over 830 regional investment centres, but only about 50 of them have investment projects at the moment, even smaller centres that have experience in successfully passing their customers ways to getting a green card. The same regional centres to all have experience in disbursement of funds to investors-even on your fingers.
Be careful, and increase your chances of success if you have decided to move on immigration program for investors in the United States EB-5.
And here is a list of questions to regional investment centre from GrowGrow.US:
- Is there a practice approval Service USCIS I-526 petition investors any project this regional center?
- Is there a practice of USCIS approval of the I-829 investors any project this regional center?
- All documents prepared for the current project on obtaining an EB-5? (Insist on to see the documents confirming the commitment of the Centre for this project).
- How will I go from "limited" partnerships?
- What should I sell and to whom?
- Who is the most likely buyer?
- What can I expect as a foreclosure?
- What is the "fair market value"?
- How you saved the capital invested in the new venture and at what expense?
- Does this project investors, who are not interested in obtaining green cards? If Yes, what problems it might cause?
- If the partnership proposed in the programme of collateral, where the partnership is located in the hierarchy as to who pays first, what type of financial support and partnership admission as protection in case of default of the partnership?
Transparency in financial accounting
- Whether to view the financial information of the limited partnership and aim to attract financing for each investor in the project regional centre?
- Which EB-5 partnership costs?
- How and when will I need to invest additional funds in a partnership (other than my original investment)?
Confirmation of job creation
- What method of job creation is available for consideration together with the initial I-526 petition?
- The alleged jobs-direct or indirect, or a combination of both?
- What guarantees will be provided when filing the I-526, which required jobs for I-829 approval?
- If you create direct jobs, whether there is a risk that this business project will create fewer direct jobs than planned?
- The burden of proof of employment creation for I-829 petition approval for direct jobs not covered model requires filling out forms I-9′s, W-2′s, documents for naturalization. As a regional Centre had prepared for this?
- As a set of jobs distributed among members of the partnership?
- Is there a chance that if the simulated (projected) job creation fails in practice, some members of the partnership, which should gain from this partnership bonuses in the form of a green card, will not be able to show evidence of the creation of 10 new jobs?
- Are there any drawbacks or reasons to seriously think for those members of the Limited Partnerships that align to invest later?
- Simulate worst-case scenario-ask if the project fails (bankruptcy or other), what will happen with the creation of jobs?
Questions on the draft
- Who manages the project and who is the General Manager (Director) a limited partnership, and what are the qualifications of each?
- What is the cost of project management?
- The fee is payable regardless of income or managers to project success (business enterprise), or it is reduced, if the income of the project is less than expected?
- What is the total amount of project costs?
- As members of the EB-5 protected against excessive distribution costs?
- The calculation is based on what the profitability of the project? On what increases the value of real estate?
- What other market conditions can reduce the cost of funds placed in this new kommerčesoke Enterprise (project)?
- Since you'll be in the minority position, ask how to get out of the partnership.
- What are the different sources of financing payment (reimbursement) funds placed into a new commercial enterprise?
- If all members of the EB-5 or a limited Partnership want to go within a relatively short period of time from the project (many regional centres require 5-year investment) who is the most likely candidate to buy back all of the Limited Partnership? At what price? As the price will be determined?
To learn more about your opportunities and how to minimize risks to potential EB-5 investor, download our miniknigu "the way of the EB-5 investor" or contact us.