ABOUT THE #CREATULLC CHALLENGE
These are some of the most frequently asked questions we usually get once you're inside.
#CreaTuLLC is a challenge dedicated to helping real estate investors around the world, specifically designed for Spanish speakers. With your LLC, you'll have access to the world's largest real estate ecosystem. We make it possible for you to open a bank account in the United States with all the benefits that this entails.
With the challenge, you'll have five days of educational videos to understand what it means to create an LLC in the state of New Mexico, United States, and always as a single-member. Once you reach the fifth day, at the closing party, we'll offer you the opportunity to form your LLC. We'll have a call to discuss the necessary documentation. ¡All in Spanish!
Creating a company in the USA gives you access to potential tax benefits, a flexible structure, potentially saving you taxes in your country of tax residence, business accelerators and venture capital, mortgages and loans from American banks, the ability to create an account in an American bank and access to clients located in the United States and anywhere in the world with the security that comes with having a company created there.
It typically takes about 15 business days to register if you're not a US resident. The process itself will take between 2 and 4 business days. We recommend checking your inbox daily during this process to minimize delays. We will be experiencing delays due to COVID-19 until everything returns to normal.
With the #CreateYourLLC challenge, we offer the registration of your LLC in the State of New Mexico. This state is business-friendly, efficient, and low-cost. You'll avoid filing an annual return, and they welcome businesses with foreign members.
Since we want you to start your business from the ground up and recommend keeping it simple from the start, we only create single-member LLCs—that is, YOU. We don't create LLCs with more members. This doesn't mean you can increase the number of members or even change the way you're taxed in the future, as LLCs are flexible entities that can be transformed depending on how your business progresses. Of course, always do it with the help of an expert accountant or legal advisor who can tell you the possible drawbacks or advantages that what has been said above may entail for your business. Keep in mind, for example, that if you have partners, the bank of the business's bank account must approve the potential partners' application. Don't do it without getting advice first.
We would love to say yes, but citizens of Cuba (that would be Spanish speakers), Iran, Syria and North Korea cannot create an LLC in the United States. We are very sorry for our Cuban colleagues, we hope this list changes soon.
You will need to provide us with a copy of your passport. Nothing else.
In your profile we will upload the official documents that we receive from the State and the IRS. We will upload them to your profile and you will also receive them in your email.
In the challenge we give you the best advice to open it and we will leave you a tutorial so that once you have your LLC created and your EIN, you can follow it and open it in one of the banks that we recommend (Brex, Mercury or Wise).
Yes. You can connect payment gateways like Stripe or PayPal to your Mercury account to receive payments as a business..
Generally, if the members of a US company are non-residents and the entity has no US-related income (see what this means in more detail), the company will not have any US tax obligations, although it must report them. In the case of real estate, you will likely need to report and pay. However, we always recommend speaking with a tax expert to analyze your individual situation. Each case is different, and we discuss generalities here for educational purposes.
Of course, if you didn't receive it automatically, just send us an email or submit a ticket in your profile. We'll send it to you immediately.
You are a business or individual designated to receive government notices, a responsible third party, an organization, or a person located in the same state where your business was established. You are legally designated or permitted to receive notices, correspondence from the Secretary of State, government notifications, and tax forms. We work with accredited Registered Agents in New Mexico.
Your company address will be the one provided by your Registered Agent. It's included in the #CreaTuLLC challenge package for the first year.
Another will be your mailing address for receiving unofficial correspondence. We explain this in the challenge, and you can find a video tutorial on your campus to learn how to create your US mailing address.
The #CreaTuLLC challenge sessions are unlocked on the day you access the challenge, although they will also be sent to your email.
Of course. American LLCs have a flexible system that works perfectly for companies with a global purpose. You live wherever you want, operate your LLC from wherever you want, file taxes (does not mean pay) each year in the United States and file taxes (and pay depending on the case and the tax system) each year in your country of tax residence. Simple, right? (with the particularities of each case, of course – always seek advice from an expert).
We explain it to you in a general way in the challengeBut yes, you can do this at the beginning of each fiscal year. It's something you should discuss with an accounting expert before taking the plunge.
We know the headache it can be to set up an LLC with everything right, but then not know the right steps to take to maintain it.
Yes, the immigration process can be much friendlier for O-1, EB-1, EB-2, and E-2 visas.
