So you want to start a new company and move lock stock and two smoking barrels 6000 miles away to do it on foreign soil? Well, it’s not an easy task – but here are some tips from Analog to help you get started.
1.Define your goals
If you’re setting up in the US, you’ll need to convince US immigration that your idea is viable and will contribute to the economy. It may sound daunting but it’s actually a great way to check your plan for weak spots.
So ask yourself the following:
How much do want this - more than anything else in your life? Like a new born baby, your business will, at times, take over your life. Your focus and tenacity is essential to your success. Fail and not only do you lose your business but you lose your US right of abode. So it’s a lot of pressure – which means you need to live and breathe it.Win over US immigration.
The due diligence demands are high and everything needs to be documented in exacting detail – it takes about a year. It’s not a definitive list, but for starters you’ll need:
US immigration are only interested in the creation of new companies that will comfortably support the founders and a minimum of two full time US employees. If you’re successful, you’ll get an E2 Visa for 2 years (NOT a Green card!) which is renewable based on your continuing success.
It’s not enough to allocate investment funds against spending that you envisage once you get the green flag. The funds need to be irrevocably committed if not actually spent long before you get to the Embassy interview or are allowed to operate on US soil.
This means setting up a US corporation, travelling back and forth to LA to find and sign up for various business essentials, a lease for an office, utiliites, phones, staff, suppliers, delivery mechanisms and networking. Plus find somewhere to live…..still up for it?
Have faith in yourself
There will always be people who will tell you it’s impossible – and they’re wrong. It’s not impossible, but you will need a lot of resilience. Be bold, hang on tight, get up when you fall down, and it’ll be an exhilarating rollercoaster ride, with immense rewards at the end. Good luck!