The US business market is undoubtedly one of the biggest ones out there. With an estimated revenue of 27 million in 2023, many businesses do their best to strengthen their position here. On top of that, the huge population of the country (more than 335,893,238) makes it even easier for businesses to build their customer base promptly. So, if you, being an Australian, want to be a part of the market, then you will first need to get a business visa for the US.
However, this will not be enough for one to start a business in the country. Rather, there are a few more things that one should know to achieve the success that they wish for. So, make sure you start your journey knowing these simple things.
Why is the US an Ideal Place for Foreign Business Owners?
The US market is one of the few markets out there that offers the same kind of opportunities to both domestic and foreign business owners. The country has around 14 different trade agreements that have made business operations easy for around 20 countries.
This is the same reason why individuals from different countries like Europeans and Australian citizens travel to the USA to start a business or invest in an existing one. As a result of this, the FDI in the USA for 2023 was valued at $5.5 trillion. This number is a result of all those business owners who saw the growth opportunities in the US market and milked the benefits out of them.
What Are the Primary Things That Are Needed to Start a Business in the USA?
Well, to start your business you will first have to enter the country. So, let us understand what the things are that you will need to first enter through the US borders.
Passport:
A passport is the biggest identity proof for anyone who is setting foot out of their home country. That means, its importance definitely stays the same when you, being an Australian citizen travel to the USA. So, make sure you have a valid passport when you are trying to travel to the USA to unlock business opportunities.
A valid passport for the USA implies a passport that has at least 6 months of validity from your departure date from the country. On top of that, this passport should also have a minimum of 2 blank pages for it to get stamped during your entry and exit from the country. However, the important indicator of a valid passport is that it should be in machine-readable condition.
Visa:
A visa works like a travel permit that proves your eligibility to enter the borders of the USA. This is why many Australians got a business visa for the US when coming to the country for work. This can be applied for through the embassy and online.
Through the Embassy
Getting a business visa through the embassy involves you physically visiting the place to carry out the rest of the process. This involves a few different steps that ultimately lead you to the visa.
- Visit your nearest embassy.
- Get the appropriate form for your visa application. In this case, you will need an E-2 treaty investor visa form which is one of the business visas for the country. Make sure that you make no mistake while writing your details in the form as that can lead to getting the visa application rejected.
- Attach copies of all your documents with the form. This includes copies of your passport, 2-3 passport-sized photographs, and supporting documents related to your visit purpose.
- Pay the fee application form in a method that feels suitable for you. You can certainly use a debit or credit card.
- Appear for the interview if you are required to do so. However, most Australian citizens traveling to the USA do not get asked to appear for one.
Through Online
The online method for visa application is quite convenient and can be done from the comfort of your home. Some of the steps of the process that you will be required to carry out are:
- Visit the Immigration website of the USA or any other reputed visa site.
- Look for the right application form for your US visa. Fill it up with details related to you and your visit purpose. Make sure you check the form multiple times to make sure you have made no mistakes.
- Attach scanned copies of the necessary documents in a PDF or JPG format. Some of the documents the copies of which you will have to provide are; a valid passport, recent photographs, bank statements, and other documents that support your visit purpose.
- Pay your application fee for the business visa for the US by using your debit or credit card.
- Schedule an interview with the embassy if you are required to do so.
- After this, it will take a few minutes to 2-3 days for you to get the approval letter for the business visa for the US. Then you will be able to receive the approval letter in the email ID that you have provided in the form. After that, you will have to get a few printed copies of the letter and bring it with you to the airport.
Steps to Be Taken for Starting a Business in the USA
Well, you will have to carry out a few steps when you try to start a business in the USA as a resident of Australia. However, before the process, you will be required to get an Individual Taxpayer Identification Number. This should be used by you to file your taxes and meet other requirements.
After that, you will have to carry out a few steps to file the registration for a Limited Liability Company (LLC) in the USA. The steps for the process that should be followed by an Australian citizen traveling to the USA for business are:
- Choose the American state from where you want to start your LLC.
- Pick an appropriate name for your LLC.
- Choose a registered agent for your business. This person will help you in understanding and complying with the regulations set by the government. Moreover, they will also help you in protecting you and your business from facing any serious consequences.
- File the legal documents necessary for starting a business with the help of your agent.
- Apply for the Employer Identification Number or EIN, necessary for all business owners.
- Open a business bank account for your business for your company in a US bank.
Top US Sectors That You Can Invest in as an Australian
The USA market is an ideal space for most businesses. So, irrespective of which sector you choose, you can easily achieve success with a little focus and smart planning. However, there are some that experience more demand and success than the other. Some of these types of businesses are;
Food and Beverage:
This US business sector is always high in demand. This explains why it was valued at $1 trillion in the year 2022. This is exactly why business owners from all corners come to the country with a business visa for the US and invest in this sector. This is what makes food and beverage the first on our list.
Real Estate:
The huge population of the country demands proper housing where people can live. This has caused the market to reach a size of $3156.7 million in 2023. That being said, entering this industry can be a little tough as there is a lot of competition. So, you should only try in this industry if you have some past experience.
E-commerce Business:
All credits to digitalization, the e-commerce sector in the USA has been able to reach a size of $1.12 trillion in the year 2023. This sector allows business owners to source commodities from their home country, sell products bought from suppliers, or create items on their own and sell them through online sites. Platforms like Amazon, Shopify, and Etsy play as the medium for selling products and carrying out the business, thus helping people maintain a minimal cost.
Other than these, one can also choose to invest in businesses like cleaning services, fitness, auto maintenance and repairs, transportation, and others, after they get a business visa for the US. However, it is important to remember that they should comply with the regulations and manage the entire business tactically if they want to experience success in the long run.
Ready to Start Your Business in the USA as an Australian?
Running a successful business in the USA market won’t be a tough thing for Australians if they are aware of the right ways for it. They will just have to apply for a business visa for the US early and hire a registered agent to make the rest of the process easy.
However, if you face any difficulty in getting your visa then you can simply just contact the Helpdesk.
Visit our home-page for more information
