Hey guys, I’m a fella from Peru, and I recently dipped my toes into the world of international trade by snagging iPhones from eBay in the US and flipping them in Latin America, mainly in my home turf. Surprisingly, that side hustle turned out to be a cash cow. I managed to rake in a sweet $3,000 USD in profit, which in my currency is around S/11,250 soles. The whole experience opened my eyes to the potential of global commerce, provided you’ve got a good handle on pricing, logistics, and market demand.
Now, I’m itching to level up my game. I’ve got big dreams of setting up a legit business in the US that would enable me to export Peruvian goodies like maca, cacao, and coffee, while also bringing in tech gadgets under more favorable tax and shipping terms. But here’s the kicker—I want to do it all above board, keeping my tax burden as low as legally possible by choosing the right business structure.
I’ve done my homework and found out that forming an LLC in states like Wyoming, Delaware, or Florida could be a smart move for international folks like me. However, I’m at a crossroads here. I can’t quite figure out which state offers the best tax perks and operational simplicity for a business focused on exports. So, here’s my burning question for you savvy entrepreneurs out there: What’s the optimal approach for a non-US resident looking to kickstart a small-scale import-export venture in America, ensuring tax efficiency and steering clear of pesky double taxation headaches between countries?
If any of you have nuggets of wisdom to share or personal anecdotes to enlighten me, I’d be forever grateful. Drop your insights below, and thanks a ton in advance for any guidance you can offer. Let’s make that international business dream a reality!