At Bookmate, we’ve worked closely with more than 1,000 non-U.S. founders who are launching and growing companies in the United States. From first-time founders to seasoned entrepreneurs backed by top-tier venture capital, we’ve seen the highs, the hurdles, and everything in between.
Through all of that, we’ve learned a lot, and we want to share those insights with you.
If you're based outside the U.S. and thinking about starting a business here (or already running one), this guide is for you. Here are the biggest lessons we’ve learned, and how you can avoid common pitfalls.
1. U.S. Taxes Are Complicated (Especially If You’re Not From Here)
There are dozens of forms to be aware of, including Forms 5471, 1040-NR, W-8BEN, and 5472, and it’s often unclear which ones apply to you as a non-resident founder. To make matters worse, the rules aren’t static. They change frequently as new regulations are introduced or IRS guidance is updated.
We've seen founders get tripped up by small mistakes: filing the wrong form, missing a deadline, or misunderstanding what needs to be reported. The consequences can range from annoying penalties to serious legal risks. The founders who get ahead of the curve are the ones who seek expert guidance early on.
2. Your Entity Structure Can Make or Break Your Business
One of the first big decisions you’ll make is how to structure your company. For many founders, that means setting up a Delaware C Corporation, but that’s not always the right choice. Depending on your goals, where you're based, and whether you plan to raise U.S. investment, an LLC might be more efficient. However, it comes with its own set of rules.
We’ve helped founders weigh the pros and cons of each option. Some end up restructuring midway through their journey, often after encountering unexpected tax issues or realizing their setup doesn’t align with investor expectations. Choosing the right structure from the beginning can save you a lot of stress and money.
3. Opening a U.S. Bank Account Is Still a Challenge
Getting a business bank account in the U.S. sounds simple, but it’s still one of the biggest pain points for non-resident founders. Even with platforms like Mercury and Stripe Atlas making things easier, we still see founders get stuck.
KYC (Know Your Customer) checks, physical address requirements, and identification verification can all create roadblocks. These issues often delay operations and frustrate founders who are eager to move quickly.
Banking might seem like a small thing, but it's critical. Without it, you can’t accept payments, pay vendors, or fund operations smoothly. Getting it right the first time is key.
4. Bookkeeping Is a Strategic Advantage Not Just Admin
We hear it all the time: "I’ll handle the books myself for now." And while that might work for a few months, it rarely holds up when your company starts growing.
Bookkeeping isn’t just about tracking expenses or organizing receipts. It’s how you get clear on your numbers, how you impress investors, and how you avoid red flags with the IRS.
We’ve seen founders miss out on deductions, misclassify income, or run into issues with international payments, all because their books weren’t set up properly. Our team makes sure your financial systems are clean, accurate, and tailored to both your U.S. obligations and your global reality.
5. Most Founders Wait Too Long to Get Help
One of the most common patterns we’ve seen? Founders wait until there’s a problem to bring in an expert. By then, it's often a scramble. You’re late on filings, unsure how to handle investor documents, or trying to fix something that’s snowballed.
The best time to get help is before you need it. A strategic tax and accounting partner can help you stay compliant, optimize your tax position, and make better decisions from the start.
And just to be clear, that doesn’t mean hiring a junior bookkeeper. It means working with someone who understands international founder needs, the U.S. startup ecosystem, and how the two intersect.
Get Started Today!
At Bookmate, we’re here to make the U.S. side of your business less overwhelming. We specialize in helping non-U.S. founders build companies that are fundable, compliant, and built to last. Whether you're launching your first venture or already scaling a cross-border team, we’ve got your back.
If you want to dive deeper, check out our resources at trybookmate.co. Or if you're ready to talk specifics, book a free consultation with our team.
Every founder’s situation is unique. Let’s figure out the best path forward for yours.
