How to transfer money (legally) to the US

How to transfer money (legally) to the US

Blog
We describe the factors to take into account when transferring money to the US as well as the existing options, their advantages, disadvantages and risks, recommending the optimal method for every situation. Index IntroductionFactors to considerOPTION 1: Travel with cash OPTION 2: Use of debit cards from the country of origin to get cash from ATMs in the USOPTION 3: Use of credit cards from the country of origin for payments in the USOPTION 4: Bank wire transferOPTION 5: Independent online platformsOPTION 6: Currency brokersTaxes and reporting obligationsConclusions and recommendationsConclusiones y recomendaciones Introduction A problem that all international entrepreneurs, executives and professionals face when settling in the US is finding the optimal way to transfer money to this country. We refer both to the money used by individuals to cover their…
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COVID-19: Is the vaccine safe? Should I get it? – Perspectives from the US

COVID-19: Is the vaccine safe? Should I get it? – Perspectives from the US

Blog
Given the evolution of the pandemic and the news about vaccines, many of us may be asking ourselves these questions right now, which we will try to answer with a double approach: technical and social, individual and collective. Is the vaccine safe? By María José López Barragán, Ph.D. Markentry USA Partner Despite the deep concern for our physical and mental health and for the economic situation, many citizens confess not wanting to be vaccinated, now that we almost touch the first version of that coveted vaccine with our fingers. The main concern: side effects. Nobody wants to be "first." These beliefs reflect a significant gap in the information that is distributed each day. Society is bombarded with efficacy data (70%, 90%, 95%, 96%) and technical details (RNA, DNA, attenuated viruses, viral…
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Reporting Requirements for Foreign-Owned Companies in the USA

Reporting Requirements for Foreign-Owned Companies in the USA

Blog
Por Diego Alarcón, Partner de Markentry USA Form 5472 Incorporating a company in the US is a decision that should not be taken lightly since it entails a high degree of responsibility for those who own it, an underestimated issue in most cases if an advisor is not available.  When a foreign person or legal entity plans establishing a company in the US they soon discover (1) the possible legal and economic advantages of operating in the US, (2) that the creation procedure is relatively simple and (3) that the operating cost is also relatively low. In many cases this leads to the immediate decision to establish a company on American soil. A frequent decision is to establish companies in the states of Delaware, Florida, Wyoming or others with supposedly…
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Biopharma perspectives 2021-24 with Trump or Biden

Biopharma perspectives 2021-24 with Trump or Biden

Business Development
By Juan Rivera-Mata, Markentry USA Partner The US elections may entail different scenarios for the biopharmaceutical industry. During his term, Trump has tried to eliminate “Obamacare” (a law that, among other things, makes it mandatory for companies to provide health insurance to their employees), and Biden has used that possibility as a main element of his campaign. But, at the same time as the President, local and state officials are also elected, and the House of Representatives and 1/3 of the Senate are renewed. It appears that Democrats will remain a majority in the House, but the Senate, now Republican, may go "blue." Trump has appointed 3 members of the Supreme Court - for life -, making it (6/3) conservative. The obligation to have health insurance (and any subsequent reform) will…
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The «Dunning-Kruger» effect and the importance of feasibility studies in business internationalization to the US market

The «Dunning-Kruger» effect and the importance of feasibility studies in business internationalization to the US market

Strategy
By Gonzalo Garcia, Founder and CEO of Markentry USA 1. The Dunning-Kruger effect and other cognitive biases The Argentinian actor Ricardo Darín, in the fabulous film "The secret in their eyes", awarded an Oscar for the best foreign film, defined in an anthological scene two types of idiots: the one who knows he is an idiot and is therefore harmless, and the one who thinks he is a genius and does nothing but generate problems. The truth is that we are all exposed to behaving like both kinds of idiots in many fields, as modern psychology has amply shown. This is the "Dunning-Kruger" effect, discovered by social psychologists David Dunning and Justin Kruger, which is defined as the inability to recognize our own ineptitude. It is a cognitive bias that means that…
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The KICS Principle (Keep It Competitive Stupid): an antidote to the “myopia” that slows down competitiveness

The KICS Principle (Keep It Competitive Stupid): an antidote to the “myopia” that slows down competitiveness

Competitive Assessment
By Raul Peralba, Markentry USA Partner Introduction This article is an adaptation made by the author from the introduction of his book, of the same title, written with Ralph Whitestone. It is currently available in Spanish via Amazon and will be published in English soon. The aeronautical engineer Clarence “Kelly” Leonard Johnson was a true innovator in the aerospace industry. He worked for many years at Lockheed Martin Skunk Works (secret projects department) and was highly regarded for his organizational skills and for dealing with highly complex matters. One of his biggest skills was the ability to break problems down and simplify them so that everybody involved in his projects was very clear about it all. I.e.: he recommended simple and understandable developments which could only cause errors that were…
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How to open a company bank account in the US as a non-resident?

How to open a company bank account in the US as a non-resident?

Business
One of the first steps that foreign companies must take when launching their business in the US market is to open a bank account. This can be complicated when the company does not have employees residing in the country or does not have a permanent physical address, something that happens frequently at the beginning of an internationalization project and even in later phases. Many foreign-owned US companies are permanently managed by non-resident staff, with occasional support from a local representative.  The availability of a US bank account is of great importance for multiple reasons: It will make it easier to get local services and be paid for sales. For example, some online markets require the availability of a bank account in the US.It is an essential element when trying to…
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Trump vs Biden: impact on international trade

Trump vs Biden: impact on international trade

International Trade
By Gonzalo Garcia, Founder and CEO of Markentry USA CONTENTS 1. Introduction  2. Trump 3. Biden 4.Who is going to win? 5. Conclusions 5. Conclusions 1. Introduction Biden or Trump, Trump or Biden. We are just over two months away from the US presidential election. Its result will have a huge impact in all areas and will directly affect the plans of international companies and entrepreneurs with interests in the US market. Very few times in the history of presidential elections have we seen two candidates with such disparate visions of how the country should be led. This is especially relevant when the nation is in the largest recession since the Great Depression 90 years ago and in the middle of a serious health and social crisis caused worldwide by…
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10 keys for successful ‘networking’ of foreigners in the USA

10 keys for successful ‘networking’ of foreigners in the USA

Blog
By Gonzalo Garcia, Founder and CEO of Markentry USA Introduction Sonia Sotomayor, Justice of the US Supreme Court, was the first Hispanic to reach that position. As she said in her book 'My beloved World':Sometimes, idealistic people are put off the whole business of networking as something tainted by flattery and the pursuit of selfish advantage. But virtue in obscurity is rewarded only in Heaven. To succeed in this world you have to be known to people. I have just completed 18 years of professional career in the USA, 2 thirds of the total. During this time, I have continually faced the challenges encountered by people from different cultures and whose native language is not English. I have had the opportunity to deal with all kinds of people, including billionaire…
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USA: Status of international travel bans and immigration suspension

USA: Status of international travel bans and immigration suspension

Blog
By Gonzalo Garcia, Founder and CEO of Markentry USA CONTENIDOS 1. Introduction2. International travel bans3. Immigration suspension4. Availability of international flights5. Do travel bans make any sense?6. Forecast7. Conclusion7. Conclusión  1. Introduction The global crisis caused by COVID-19 has created countless problems for foreigners who resided or planned to reside in the United States and did not have US citizenship or permanent residence ("Green Card"), as well as for the companies that employed them or planned to. Immigration restrictions and travel bans imposed suddenly and unilaterally by the US administration in recent months have created situations of all kinds. It is difficult to estimate the number of people residing in the United States who have been indefinitely blocked outside the country, away from their families, their homes and their jobs. Those…
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