I live in a country where corruption and bureaucracy are widespread. Opening a business takes months and costs a lot of money, and will require one to hire somebody solely for handling all administrative obligations - which include submitting four tax declarations per month.
Together with another experienced programmer I want to set up a company that develops online applications. Our clients will mostly be from the US and from Europe, and for the aforementioned reasons we are not interested whatsoever in setting up this company in our home country. Rather, we are in the process of setting up a US LLC. Regarding this I have the following questions:
- Some of our expenses will be incurred in our home country. Is this a problem, or can we just put receipt on the name of the LLC and should that not be an issue?
- I understand that LLC earnings are not taxed on corporate level but rather at individual level. Given that both owners will be foreigners, how should we declare our earnings?
- We will not be in immediate need of a US bank account and will not try to obtain an Employer Identification Number for the time being, because we read this can be difficult without a social security number. Or is there a legal obligation to obtain this EID number?