Texas attracts a lot of businesses and investors to the US and it is one of the best regions for business in terms of a reasonable income tax rate, a thriving job market and modern infrastructure. Consider the capital city of Houston if you plan to establish a business. It has a solid economic foundation and a versatile business scene. Houston thrives on international trade, entertainment and culture, media and fashion, and science and technology. The city boasts a prosperous international community with a population from different backgrounds.
Why start a business in Houston?
Houston is a thriving metropolis today thanks to the large international oil and gas companies and state-of-the-art medical centres that attract large investments for development.
Relocating to Houston promises high incomes from the start. Salaries in Houston are high and returns on investment tend to be generous. Be sure to check the staff costs of your business in Houston to make sure the relocation is worthwhile.
There are no residency requirements to register a business in Houston. Owners and directors do not need to live in Texas to legally operate a Houston company. Make sure you have all the necessary business licenses, permits and tax registrations before you start your business operations.
Business in Houston
The main areas of employment in the city are aeronautics, oilfield equipment manufacturing, healthcare, energy, manufacturing, transport and services.
Start your business in Houston if you operate in the oil and energy sector, the majority of the big players in the market operate from Houston. Engineering services here in mechanics, electrical and automation are always in demand.
NASA’s Central Control Center is located in Houston, as well as the head office of The Boeing Company, which develops manned spacecraft. So there is an opportunity to find a niche in the field of space research.
Consider setting up a Human Resources business in Houston. There are never enough local specialists to cover all the job demands, so many positions are available for foreigners with work visas. As a result, Houston has a dynamic employment market and a lot of job security.
Where to start a business in Houston
Draw up your business plan including the central business idea, the map of your development and the goal you are working towards.
Carefully analyze the market before you design your business plan. Study the buying habits of consumers, the buying capacity of the target audience, the interest rates of banks and the activities of your competitors.
There are 4 main forms of legal business organization in the USA. Each of them has its pros and cons, so you need to decide which is right for you. Choose your company name and make sure it is unique and has not been used in this state before.
You will need to select a good location for your business and check local regulations. Before choosing a location, think about future expansion, traffic and parking, public transport for staff and relevant infrastructure.
Draw up the charter of the company to establish each member of the corporation and their duties, rules of internal operation and distribution of profits or losses. This is an internal document of the company, it does not need to be certified by a notary and submitted to government establishments.
Steps to start a business in Houston
You can register your company online by indicating its legal name and address and the details of its founders.
If you have not yet found an office, the easiest option is to rent a post office box for all official notices.
Your next step to establish a business in Houston is to obtain a Federal Employer Identification Number (EIN) from the IRS. Banks typically require an EIN to open a company account and business partners may require your EIN to process fees.
Determine and plan your new business tax liabilities with federal, state and local tax authorities. You will be liable for three types of taxes: federal taxes at the national level, regional taxes at the state level and local at the city level. A business in Houston is likely to be exempt from regional taxes.
What to check if you start a business in Houston
The public transportation system in Houston includes an efficient system of motorways and railroads. Houston is large and you and your staff are likely to commute and use multiple buses and trains.
Prices for internet access in the United States are relatively expensive compared to many other countries, be sure to factor this in when you open your business in Houston.
Relocating to Houston makes travel to other major cities very easy and affordable. There are regular direct flights to most major US cities and world capitals.
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