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Indians can start business in US in one hour, says US expert

The US is “open to business” and Indians can start a business in the country within an hour, a US-based industry expert said in Kolkaya.

“It is easy to start a business here (US) as the cost of entry (business set-up) is low…You can open a business within an hour,” world chairman of BKR International (BKRI) Howard M. Rosen said on the sidelines of an event on Monday night. BKRI is a global industry association.

According to Rosen, federal and state clearances can be obtained online by Indians within an hour besides tax benefits which can put them to business at a lightning speed.

“Limited Liability Companies (LLC) is the highest growing segment in the industry variant and it is very easy for Indians to run, operate and dissolve,” he said.

An LLC combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.

However, Indians may find it difficult to invest in the ‘S’ category of corporations as shares must be held by a resident or citizen individuals or US-based qualifying trusts making LLCs, the preferred choice for Indian entrepreneurs.

As per NASDAQ, the US stock exchange, only eight Indian companies have been listed in the US so far.

According to Rosen, Indian firms have “huge investment opportunities” in healthcare and IT segment.

A survey from industry lobby Confederation of Indian Industry last year revealed investments by Indian companies in the US amounted to $17 billion, generating an employment figure of for more than 81,000 people.(IANS)

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