Hi Lindsey
Thank you for the question. This is actually a good Q for the Forum vs a Coaching Call Q, so let me answer it for you here:
– We recommend you set up your business entity in your local country. So this would be the UK in your case. This will ensure you are aligned with local taxation laws. Contact a UK Business Accountant to help you set up your preferred business structure and get registered. (Kirsty and I both have an Australian business entity because that was our location at the time and were Australian residents).
– Most international business entities can sell to any country, including the US and Europe. There might be a few ad hoc countries outside of this, but in the main, the market is open for international businesses 🙂
– You could set up a US LLC but the process is more difficult and unnecessary, plus you will need to get up to speed with the US taxation laws which can be very confusing, even for US citizens. You can also speak to your UK accountant about the benefits of being a ‘distance seller’ and UK seller to USA customers.
– Once you have your business entity set up, you can open BUSINESS bank accounts. You may also like to look into a foreign exchange financial service like World First or Payoneer to help you convert USD sales into our local currency for profit 🙂
I hope that helps you?
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