Many of the companies and businesses you see in Florida are related to or owned by foreign business entities.
If you own a foreign company and want to expand your foreign business in Florida, there are different ways you can setup a business in Florida. These include creating a branch office, a subsidiary, or a new entity.
Creating a branch office will create a new location for the same company. It must have the same company name and it is considered part of the same company.
If you choose to setup a subsidiary, then you will create a new business entity, such as a LLC or Corporation, which will be owned by the foreign company. Creating a subsidiary has different liability and tax implications than a branch location or creating a new entity. If you are interested in setting up a subsidiary for your foreign company in Florida, then you may qualify for an L-1 visa for yourself or the manager of the branch located in Florida.
The third option you have is to create an entirely separate business entity. The difference between creating a subsidiary and a separate entity is the foreign company will not be the owner of the company.
Each of these options has certain advantages and disadvantages, which is why it is important to consult an experienced Florida business law attorney before making the decision to expand your foreign business in Florida. If you are interested in starting a company in Florida, then contact Boyer Law Firm’s business law attorneys today.