Firstbase.io Frequently Asked Questions

General

What is Firstbase.io?

Firstbase.io is dedicated to helping founders from all over the world easily launch a US-based business. From anywhere, in a few days. Firstbase.io’s powerful platform enables entrepreneurs a convenient way to grow, set up a US bank account, and access to the most powerful startup ecosystem in the world. Firstbase.io is a remote-first global company with thousands of customers from over 120 countries around the world.

Why should I incorporate a startup in the US?

To have access to the best payment providers, startup tools, venture capital, tax benefits, banking, accelerators, and US-based customers.

Additionally, US-based customers feel comfortable buying digital and physical products from companies registered in America. Read more here.

Can a foreigner form a company in the US?

Firstbase.io serves clients in countries all over the world. We’ve successfully helped founders in 97 countries, and we are happy to help you too.

Can I use Firstbase.io if I don’t have an SSN or ITIN?

You don’t need to have an SSN or ITIN to set up a legal entity and bank account in the United States through Firstbase.io.

Do I need to visit the US?

You don’t need to visit the US. We do everything remotely — you can set up a company from the comfort of your couch.

How are you different from other services?

Unlike competitive services, Firstbase.io takes care of everything — business formation, bank accounts, tax advisory, and everything in between.

The Firstbase.io Network is made up of strategic partnerships with service providers, technology companies, and tools to support our diverse group of founders and businesses. Our dynamic network continues to grow and mature based on the needs of our customer base. Access to the Firstbase.io Network is included with your fee.

We are building a tech-enabled, customer-centric service that combines automation and human touch to scale your overall experience.

Firstbase.io provides lifetime support in 5 different languages: English, Spanish, Portuguese, Russian, and French.

Are there any reviews of Firstbase.io online?

Plenty! Check out our TrustPilot page.

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Application

How do I begin?

To begin, you just need to fill out the application on our website. It will provide us with exactly what we need to get it done for you.

Just click “Get Started” on our homepage — our simple online module will guide you through the process.

What would you recommend for my startup — a Corporation or LLC?

LLC is an excellent choice for eCommerce stores and small online projects. LLCs offer limited liability for founders, simple structure, and ease of management.

LLCs don’t have shares, so you won’t be able to issue stock or go public — but many pretty huge companies are LLCs, so you can still achieve a lot with this structure.

C Corporations are ideal for businesses seeking to raise money from angel investors or VC firms. The ownership of the company is expressed in shares of stock, and you can use these shares to raise capital and issue employee options.

When deciding between an LLC and a C Corporation, consider how you intend to structure the ownership and leadership of your business, your fundraising, and hiring goals. A core component of the Firstbase.io Network is access to law firms, tax attorneys, and CPAs who can support you as you grow your business regardless of the type of entity you launch with Firstbase.io.

How many days does it take to register a company?

It normally takes 15 business days to get everything done. If you are a US resident, the process will take 2–4 business days. We encourage you to stay alert in communication and in your email inbox with us during this process to minimize the delay.

We are experiencing delays due to COVID-19, so please reach out to sales@firstbase.io for updated timelines.

In what states can I form my company — and why?

We offer company formation in the states of Delaware and Wyoming. These states are business-friendly, low cost, efficient, and welcoming to foreign business owners.

If you are currently residing or planning to reside in the United States, your business does not necessarily need to be formed in the state you live in. You can read more about this topic for both LLCs and C Corps on our blog.

Can you support everyone?

We would love to be able to support everyone. Unfortunately, citizens of Cuba, Iran, North Korea, and Syria cannot form an entity in the United States.

We will continue to update this list as things change, so please come back and check periodically.

What documents do I need to provide?

You will need to provide a picture of your passport to our partner bank. Firstbase.io won’t ask for any of your documents — just your personal and business-related information.

Will I get a hard copy of the documents?

We are a modern tool that promotes a modern approach to minimize the cost to our customers. All of the documents will be provided digitally, sent via email, and uploaded to the customer’s profile within Firstbase.io.

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Fee & Payment

What does your fee include?

Our one-time fee covers all state filing fees, company formation or incorporation, obtaining EIN (Tax ID for your company), Post-Incorporation setup (set of essential legal documents), the first year of registered agent fees, US address setup, one free tax consultation, bank account opened with our partner bank and special offers and discounts from our partners.

What payment methods do you accept?

You can make a payment in your profile using any debit/credit card. We proudly use Stripe to process transactions.

If you would like to use PayPal, please ask one of our support people to send an invoice to your email address.

Will I get a receipt for my purchase?

Sure. If you do not receive a receipt automatically, please let us know, and we will send you one manually.

Do you offer a refund/money-back guarantee?

We do. Please see our Terms of Service.

What are other costs aside from $399?

Our fee covers all you need to get started. However, as a customer, you will be responsible for covering the fees associated with setting up and running your company that are not covered by our services (e.g., notarization fees, CPA fees, and other fees).

Do you have hidden fees?

There are never any hidden fees — all government fees are built into our pricing.

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Bank Account

Will Firstbase.io open a business bank account for my new company?

Sure thing. A business bank account opening is part of our package.

Which bank do you work with?

Our current partner bank is Mercury. Mercury makes bank accounts that help tech companies scale.

Mercury offers FDIC-insured bank accounts that come with API access, virtual cards, team management, and a lot more.

Is Mercury good?

It’s great. Mercury offers beautiful full-stack bank accounts that come with lots of nice tools and features. There are no minimum balances, opening fees, or monthly fees.

Mercury is funded by some of Silicon Valley’s sharpest investors, and they are continuing to build new great things.

Will I receive a debit card?

100%. Your Visa debit card will arrive in a plain white envelope to your business address. You will be able to use it globally to pay for goods and services.

Can I connect PayPal or Stripe to the Mercury account?

Yes. You can connect payment gateways such as Stripe or PayPal to your Mercury account to receive merchant payments.

Where can I learn more about Mercury?

They have a very helpful FAQ section on their website.

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Running a Company

Can I operate a US company living in my country?

Absolutely. American LLCs and Corporations offer a very flexible structure that works perfectly for global companies.

Do I need to pay taxes in the US?

Generally, if the members or shareholders of a US company are foreigners and the entity doesn’t have any US-connected income, this company won’t have any tax liability in the US.

Just selling products or services through your US company doesn’t make you subject to US taxes — even if you are selling to customers based in the US.

Examples of a “US-connected income” may include having full-time employees in the US, operating a warehouse, or having a physical location in one of the states. Generally, the source of income is the geographic location where the services are performed and where the income-producing asset is located. Read more here.

We are not an accredited legal company, but our package includes one free tax consultation — our legal partner will be able to assist your tax needs in the US.

Will setting up a US company help me move to America?

Starting a business in the US can make the immigration process much easier. You can read more on our blog here.

Additionally, one of the Firstbase.io Network partners provides a major discount for the O-1 visa fee, deferred payment after the visa is approved, and free consultations regarding general immigration as well as O-1, EB-1, EB-2, and E-2 visas for FirstBase clients.

What is a registered agent?

In the US business law, a registered agent is a company or individual designated to receive government notices.

In the US business law, a registered agent is a responsible third-party, an organization, or individual located in the same state your business was established in. They are legally designated or allowed to receive notices, correspondence from the Secretary of State, official government notifications, and tax forms. Read more here.

We work with reputable registered agents based in Delaware and Wyoming to provide you with exceptional service.

Will I have a US address?

Yes, we will set this up for you. The address for Wyoming companies will be provided by the registered agent. It’s free and included with the package.

For Delaware companies, the address will be provided by one of our partners — they will cover the first month for you. After the first month, it’s $9.99/month and up depending on what address you choose. You may choose to discontinue this service at any time.

What are the ongoing costs?

Yearly charges would depend on whether you set up a company in Delaware or Wyoming.

For Wyoming, you will have to pay the registered agent fee of $49/year (the first year is included) and the Annual Report fee, which is $50.

For Delaware, you will be required to pay the registered agent fee of $50/year and the franchise fee, which can vary based on the nature of your business (typically, a few hundred dollars a year). Your registered agent will be able to calculate the fee for you).

Many of our customers also choose to use a US-based mailbox address. It normally starts at $9.99/month. One of our partners covers the first month of the US address for you, so you will be able to operate this address to receive some of your business mail.

Can I convert an LLC to a Corporation in the future?

Absolutely. And we will be happy to guide you through this process.

Do you provide ongoing services (accounting/payroll/tax/legal services)?

We do not (yet) provide such services, but we have a lot of partners that do. Check out Firstbase.io Network to learn more.

Will you be able to help me after the process is completed?

We sure will. We love helping founders, and our package includes lifetime support.

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Contact Us

We know lifetime online support is the best way to deliver success to our customers who live and work all over the world.

Click on the chat widget on our website or reach us at sales@firstbase.io. We’d love to help you.

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