Firstbase.io Review – The Best Thing for Foreign Founders
Selecting the appropriate LLC service provider could be a bit daunting - especially if you’re a foreign founder. Do you need to incorporate your business in the US? Firstbase.io provides a solution for assisting business owners across the globe to start a US-based company.
You don’t even need to step foot into the country.
This article will give a detailed review of the firstbase.io services - its pros and cons, features, pricing, and other topics around it.
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our comparisons and recommendations. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
Highlighted below are some interesting features of Firstbase.io.
- Expert lifetime support: Firstbase.io members are located around the globe and supports its clients in five languages: English, Portuguese, Spanish, Russian, and French.
- Free consultations with experts: The company connects its clients with professional CPAs and attorneys.
Firstbase.io was established in 2018; this means it's a relatively new establishment. Within three years of its establishment, it has helped thousands of businesses from over one hundred and twenty countries register their businesses.
It’s different from many of the incorporation services available because it helps founders worldwide incorporate a business in the United States. It also helps with getting an EIN, opening a business bank account, and provides tens of thousands of dollars in perks to clients.
US company formation
Firstbase.io makes it easy for its customers to build a company in the United States. It doesn't matter if they're a resident of America or not. The service is offered in Wyoming and Delaware exclusively, so keep that in mind when using it.
However, the customers are responsible for selecting the state that's best for their businesses. You can consult with them, but the final choice is yours. The founder and CEO of Firstbase.io, Mark Milastsivy, says:
Registered Agent services
Firstbase.io works with reputable registered agents who stay in Wyoming and Delaware. Having a registered agent responsible for receiving important documents ensures that you run your business remotely with confidence in its compliance.
The registered agent will also help the clients keep copies of their company's most vital documents.One document that it keeps is the certificate of formation or incorporation - this will serve as a backup in case of emergencies.
Firstbase.io also ensures that its client's personal information is safe, and it will not be in the public record of the state that the client incorporates. Instead of the customer's address, the registered agent's name and address are made public.
US bank account
Opening a bank account for its clients is one of the primary features included in the package of Firstbase.io. It has a working relationship with Mercury - an online bank for businesses.
The agency automatically opens an account for its clients once it obtains an EIN. There is also a $500 reward offer from Mercury for Firstbase.io clients when they spend using their debit cards.
Employer's Identification Number (EIN)
Obtaining an EIN is necessary for newly formed companies - it's helpful in opening a bank account and completing federal filings. Firstbase.io obtains an EIN for its clients by acting as a third-party.
Note: entrepreneurs do not need an individual taxpayer identification number (ITIN) or social security number (SSN) to get their EIN. ITIN and SSN speed the process up, but they’re not required.
Firstbase.io charges its customers $399, and it's a one-time fee. It includes all the additional services and filing fees - even the state filing fee.
Firstbase.io provides its clients with multiple features such as US address set up, LLC formation or C corp incorporation, and business bank account. It also provides lifetime 24/7 services, EIN, legal documents preparation, registered agent services, expert consultation, and $20k in startup rewards.
Aside from the core LLC incorporation services, the company also provides its clients with additional benefits - its add-on services are not charged separately. Highlighted below are some add-on services.
US address setup
The agency assists its clients in obtaining a virtual address for companies in Delaware and Wyoming. The registered agent will arrange the address for companies in Wyoming, and there is no extra amount charged, as all costs are included in the package.
However, companies in Delaware will have to pay for an address setup. Partners of the agency will arrange the address in the state. The charges are $6.99 or more per month; it depends on the clients' address after Firstbase.io covers the first month.
Over $20k in exclusive rewards
Firstbase.io gives rewards and special offers beneficial for new businesses and their founders - these rewards are gotten from service providers and technology companies.
The offers could be accessed through Firstbase Network - and its clients can access the site because it is included in its incorporation fee. AWS (Amazon Web Service) is an example of such companies. It offers $5000 in free credits.
Firstbase.io will prepare some legal documents for its clients' after the incorporation.The document contains important information concerning the company owners, operations, and other vital details about the company.
Ease of use
Firstbase.io is relatively easy to use. Once the customer taps on the 'get started’ button, they can begin their USA company formation.
It takes about 5 minutes to enter all the necessary information for up a company. Highlighted below is a step-by-step method on how to set up a company on Firstbase.io.
- Select the company type - clients have the flexibility to choose their company type - either an LLC or a corporation.
- State selection - the customer chooses where it wants its business to be based - Wyoming and Delaware.
- The company's details - the clients enter the new company's details - its name, objectives, industry, etc.
- The founder's personal information - this is the final stage; the founders must fill in their details such as name, occupation, email address, etc.
After the online application is completed, Fistbase.io starts the paperwork processing. It usually takes about fifteen days to complete the whole process. However, it may only take two to four days if the client lives in the United States.
Pros and cons of Firstbase.io
- It grants its clients access to the most potent startup ecosystem globally
- A safe dashboard
- It offers its customers a full year of registered agent costs
- Tens of thousands in credits for a variety of services
- US business bank account
- Offers legal guidance
- A free tax consultation
- Expert support for a lifetime
- US address set up
- US EIN
- You can only incorporate in two states
- It only has a single pricing plan
- Doesn’t offer auxiliary service like annual report notifications
Firstbase.io has excellent customer support - this fact can be traced to the mostly glowing reviews clients drop online concerning.
Its support team is professional, proficient, and they respond to the inquiries of customers promptly. The company provides lifetime online support to its clients through its website contact form or email.
Alternatives to the service
There are several online incorporation service providers. However, not every one of them will be suitable for your needs. Highlighted below are some top-notch alternatives to the company if Firstbase.io doesn't suit your business needs.
MyCompanyWorks was established in 2001 and was known as 'MyNewCompany.’ In the intervening years, it has helped over 60 000 companies.
MyCompanyWorks assures its clients that it will process their order within a day without charging an extra fee. Although its clients have to pay for its registered agent services, it's one of the lowest prices as it only costs $99 per year.
Its refund policy is also one of the best in the industry; it'll refund its customers' fees within the first 90 days of purchase for whatever reason.
ZenBusiness was established in 2015, and over the years, it has helped thousands of businesses while amassing thousands of positive reviews.
The company's LLC service provides its clients with everything they need to form their businesses.
Some of the services it offers its customers are EIN acquisition, registered agent services, compliance requirements guarantee, CPA assessments, website building services, and legal document templates. You can read the full review here.
The company was established in 2008, and over twenty million consumers and businesses have used its service within the space of thirteen years. Its extensive customer base is a testament to the quality and convenience the service provides.
As a legal services website, Rocket Lawyer gives its clients access to various legal assistance types and connects its customers to attorneys. Its services are suitable for entrepreneurs and small business owners because of their affordability.
Firstbase.io review conclusion
While there are many LLC service providers, it is no doubt that what sets Firstbase.io apart is its interest in foreign-owned founders. Foreign-owned founders find it challenging to set up the required pieces from different countries.
Firstbase.io clients do not need to visit the US to form an entity or set up a business bank account. Additionally, its customers do not need to travel to get a US address.
If you need to set up a business in the US without visiting the place, Firstbase.io should be your top choice. It also offers tens of thousands in perks, an EIN, and lifetime customer support.
Frequently asked questions (FAQ)
Why is Firstbase.io unique?
Firstbase.io supports six languages which are English, Arabic, Portuguese, Russian, French, and Spanish.
Compared to its competitors, the company is concerned about all things related to efficient business formation - tax consultation, bank account, business preparation, etc.
Does Firstbase.io open a business bank account for its customer’s new company?
Yes, it does. Firstbase.io has a partnership with Mercury which provides an FDIC-insured corporate bank account. Mercury is 100% online, and you can even request an ATM card so you can perform transactions as you choose.
Can an outsider set up a company in the US?
Firstbase.io serves countries across the globe. The company has successfully helped thousands of founders in over 120 countries set up companies in the US. And it will be delighted to help you too.