Chinese founders can form a US LLC or C-Corp remotely (Wyoming/Delaware typical) in 1-2 weeks, then obtain an EIN from the IRS by fax/mail (or quickly via responsible-party setup). Compliance: annual report, franchise tax, and federal/state tax filings.
Process: (1) Choose state — Wyoming (privacy, low fees) or Delaware (investor familiarity) for holding; sales-facing states for operations. (2) Formation: 1-2 weeks remotely, no US residency or SSN required. (3) EIN: IRS issues by fax/mail for foreign responsible parties (4-8 weeks) — plan banking around this. (4) Banking: Mercury/Aspire and traditional banks accept foreign-owned LLCs with EIN and KYC documents. (5) Annual compliance: state annual report + franchise tax (Wyoming USD 60 min; Delaware LLC USD 300 flat), federal Form 5472+1120 pro forma for foreign-owned single-member LLCs (USD 25,000 penalty for missing 5472!). Total US compliance is cheap but penalty traps are real.
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