What attracts people to open businesses in the U.S.?

The U.S. is the world’s largest consumer market, making it a prime destination for international businesses. Many non-U.S. individuals start U.S. entities to access global marketplaces, process payments through platforms like Stripe, and reach consumers. For businesses in developing regions, setting up a U.S. entity is often the key to unlocking global opportunities and getting paid by major payment providers.

What are the benefits of selling in the U.S.?

The U.S. market’s size and credibility are significant advantages. A U.S. entity also enhances a company’s reputation, especially if they’re looking to attract venture capital (VC) investment, as many of the top investors are based here. The opportunity for growth in the U.S. market is substantial, making it a desirable destination for businesses worldwide.

(07:11) Let me explain how this works for international businesses. If they are not part of any accelerator program, it can be a bit intimidating, especially if it's their first time setting up a business in the U.S. Most of our clients are small businesses like e-commerce ventures, freelancers, and agencies, but we also help some people raise funds.

If someone is looking to raise funds, they would need to establish a Delaware C-Corp. Even VCs in Europe often require companies to have a U.S. presence, and Delaware is typically where they set up. Once the entity is established, the process is straightforward. The company will receive a kit that enables them to issue stocks and raise funds. After issuing stocks, they need to complete the necessary filings, such as the Form 2B and 3B filings, which we assist with, especially for non-resident individuals. This is where we help people with ITTIN, as it's a simple process once they have the correct documentation.

For foreign businesses looking to raise money from U.S. investors, it's crucial to understand that investors often prefer to meet in person or at least have a U.S. presence. While you can set everything up remotely, the reality is that U.S. investors tend to look for companies with a physical presence in the U.S. This makes it easier to form relationships and raise funds.

Now, for most of our clients, we’re talking about simple e-commerce businesses, so setting up an entity is straightforward. But if you’re looking to raise funds, joining an accelerator program can be a great way to build credibility and tap into the community. Being part of an accelerator often gives you a chance to network with VCs or other businesses, which is incredibly valuable when you're starting out. In cities like New York or San Francisco, putting yourself out there and networking can help establish your business.

(16:02) I don’t have the knowledge or experience to confidently say, "This is how they can be successful." Everyone's path is different.
With that said, what lessons did you learn along the way while building your company that you would recommend to others looking to launch a SaaS company and achieve similar success?

What I learned in the beginning is that I was very focused on trying to make everyone super satisfied. A lot of people who come to us to set up their business are really excited, and they want to be successful. I used to think that we had some sort of responsibility for their success, but I now realize that wasn't correct. Not every company that starts is going to be successful.

For me, I was putting so much energy into my business and trying to make everyone happy, but I’ve learned that it’s better to enjoy the experience and approach it without high expectations. The successful people I’ve worked with are the ones who took things as they came and didn't stress about immediate results. They simply enjoyed the process. Those who had expectations for success from the very beginning often felt a lot of stress. I’d advise people to focus on the experience and not put too much pressure on themselves.
I would also add, make sure you have a great product first. It's easier to market and sell a great product. Even if it takes a few extra months to get it ready, do proper beta testing, get feedback from real customers, and implement those changes. Once you're ready to scale, be sure you're prepared for it. You can't build a successful business on a bad foundation—eventually, you'll have to rebuild.

(19:04) One of the biggest challenges I faced early on was that in 2016 and 2017, there weren’t many options for non-U.S. business incorporators, so it was a good time to enter the market. But the difficulty was that I hesitated to leave the people I was working with. There were legal aspects involved, and I was scared to make the transition. I should’ve acted faster and been braver about seeking alternatives. Eventually, when I did make the change, it was tough, but it led to more success than if I had stayed where I was.
You learn a lot through trial and error. There’s a saying: "Hire slow, fire fast." If something’s not working, whether it’s with people, organizations, or strategies, you have to be willing to cut ties and try a different direction. We all eventually learn this lesson, but it's one thing to read it in a book and another to live it.

(21:06) Sometimes, you don’t fully understand the importance of acting sooner until you've been through the process. Failing earlier can actually be beneficial. It’s a learning lesson. Entrepreneurs should view failure not as a setback, but as part of the journey. It’s not a one-time event. Many successful entrepreneurs have failed multiple times before they achieved success. Those failures are often a result of years of preparation meeting opportunity.

The biggest failure I experienced was not leaving earlier when I should have. The lesson I learned was to not rely so heavily on emotions. Once I stopped doing that, things started moving faster and better. Business is a lot like learning to drive—you’re scared at first, but once you’ve done it a few times, you gain confidence and control. That’s when things start to flow.

(23:12) To answer your last question: For non-U.S. residents, if you’re looking to launch a business in the U.S., having an ITIN is essential. We help people with the ITIN process, and it’s important because you’ll need it for tax purposes, among other things.

(23:39) A lot of people skip over getting their ITIN and start their business without it. They learn the hard way, often too late. There are various reasons why having an ITIN is important. For example, if someone doesn't have a Social Security Number and wants to open a U.S. business account, PayPal, TikTok shop, or Shopify, they are required to have an ITIN. Without it, they won’t be able to set up accounts with these platforms.

Once they form their company and get the company’s EIN (Employer Identification Number), they can apply to these platforms. However, they’ll be told they need to verify their personal identity using a Social Security Number or ITIN. It’s a process that takes time, and if they get rejected during the application, they might get flagged—this could mean their name, company name, or domain gets red-flagged.

So, it's better for them to get their ITIN in advance to avoid issues or rejections down the line. Additionally, for platforms like Stripe, Amazon Seller Central, eBay, and others, if they provide an ITIN, it strengthens their application. Even for European customers, it can be harder to get approved by these platforms, as they often judge applicants based on nationality and location. Having an ITIN makes it look like they are more U.S.-based, which is what these platforms want.

We make this process simple and straightforward. We also assist with business formations such as LLCs or C-Corps, ensuring compliance by reminding clients when they need to take action. For example, we guide them on how to file their federal income taxes and notify them of any state renewals. We guarantee the best price on the market and offer live chat support Monday through Friday. Our team is always ready to help clients with their specific cases.

(26:04) In terms of timing, business formation typically takes about a week. If you're forming in New Mexico, it can take 2-3 days, and for Wyoming, it’s about a week. Once the company is formed, obtaining the EIN usually takes 25-30 days. Getting the ITIN will take an additional 6-8 weeks. So, overall, the process can take around three months. Many people think they can just follow a tutorial or buy a course and start making $10K a month, but it usually takes longer. I know people who worked on it for a year before they started getting paid. For non-U.S. residents, it can take time, and it may be challenging, especially if they’re from a region where resources are limited, as I was many years ago.

(27:32) So, the key lesson is to get started right away. Don’t postpone getting your ITIN set up. The sooner you do it, the sooner you can start earning from the U.S. market.

One other thing I want to mention is that, unlike other business incorporators, we have an actual team member who helps clients set up payment providers and selling platforms. Our team offers guidance, making recommendations on what to put on their website and how to apply to these platforms. This hands-on support is a significant advantage for our clients, ensuring they’re fully prepared.

(28:02) As for what’s next for us, many non-U.S. residents are aware that they need an LLC if they want to be a dropshipper, sell on Amazon, or run an agency. While this is trending, we see a niche opportunity in helping with ITINs, especially for people looking to build credit scores in the U.S. or apply for credit cards. We may pivot to offer solutions in this area as our clients’ needs evolve. We are currently one of the leading providers of ITINs online, and we’ll continue expanding our services based on what our customers need.

In the future, we’ll keep providing solutions for credit building and other needs, and we’ll see where it takes us.
(29:28) If you’re interested in learning more about the ITIN, visit our website at [yourwebsite.com]. We have live chat support available 24/7 Monday through Friday, where our team can assist you with any questions you have.

(29:48) Additionally, Nacho Nacho is a proud partner of the ITIN service. You can grab your ITIN today through the marketplace. Nacho Nacho is your first stop for software savings, and we have a special promotion today—you can get $50 off if you grab your ITIN now. Don’t delay because the longer you wait, the longer it will take to start earning from the U.S. market. Whether you come through Nacho Nacho or visit [yourwebsite.com], just mention Nacho Nacho to claim your discount.

(30:16) Thanks again for having me today. It’s been great discussing our business and growth with you.