Since 2003, Healy Consultants Group has assisted our Clients with starting their business in Massachusetts. Our services include i) Massachusetts business registration, ii) regulated industries licensing, iii) Massachusetts corporate bank account opening, iv) employee recruitment strategies and v) office rental solutions.

Massachusetts company registration summary

Press the link headings below to read detailed, relevant, up to date information for Massachusetts business setup.

• Benefits and problems

  Benefits of Massachusetts company registration

  

  • Foreign investors find Massachusetts to be the best State to employ qualified engineering staff in the US, because:
    • The State enjoys the highest concentration of Master degrees holders in the fields of science and engineering degrees in the country;
    • The state is consistency ranked on top for primary and secondary school education;
    • MIT is the best engineering school in the World;
    • Massachusetts was ranked 4^th in the Quality of Life Index by Forbes in 2019;
    • Boston is home to top global engineering Firms, including: i) AECOM and ii) ThermoFisher Scientific.
  • The state offers multiple business grants and subsidies to start ups, including:
    • Sponsored costs for international trade shows and marketing costs under the State Trade and Export Promotion (STEP) grant;
    • Small business innovation support via the targeted industry program START provides annually up to US$12 million funding to start-up businesses;
    • Increased productivity programs such as Workforce Training Fund, covering expenses for ongoing employee development and training;
    • Through the Small Business Technology Transfer program, offers portfolio of support in the fields of i) high school internships and apprenticeships and ii) tax incentives.
  • A Massachusetts company is a flexible business structure to enter the US market because:
    • It is possible to register an LLC in Massachusetts within a day with 1 director and 1 shareholder of any nationality, without personal travel required;
    • Massachusetts law does not mandate a minimum share capital for company incorporation. Furthermore, there is no requirement to open a corporate bank account to support the new company;
    • The state was ranked 6^th in access to capital by CNBC in 2019;
    • All Massachusetts LLCs which are not conducting any business in the state will be exempt from any licensing requirements.
  • A business owner i) who is neither a US citizen, permanent resident or tax-resident) ii) who lives outside the USA iii) who only has a company number in the USA iv) whose staff and directors are based outside the US and v) whose company provides services or manufactures goods outside the USA, is legally exempt from USA corporate and personal income tax;
  • While the above applies for the majority of cases, it should be confirmed on case-by-case basis;
  • Foreign corporate shareholders need to register for Employer Identification Number (EIN) tax at all times. IRS will not share tax information with the Client’s home country;
  • Massachusetts is well connected with major economic centers across the country and is a cluster for tech companies. This allows similar businesses to benefit from each other at lower costs;
  • It is also one of the most advanced states in research and innovation, which means higher demand for investment and growing business opportunities.

  Problems with Massachusetts company registration

  • Running a business in Massachusetts is expensive, because:
    • The minimal hourly wage in this state is one of the highest in the US, at US$12.75 per hour;
    • Boston rental prices are above average when compared to other US state capitals in the US;
    • The median salary in Boston is US$64,700; 20% higher than the US average salary of US$51,000;
    • According to KPMG, Boston is the third most expensive city in US to do business, after New York and San Francisco;
    • Massachusetts is the fifth most expensive state in the US when comparing electricity prices.
    • Boston is one of the most expensive cities to live in the USA in 2019. High living costs automatically mean high business costs in terms of salaries and utilities.

• Best uses for a Massachusetts company

  • Boston is an ideal destination for engineering and other complex businesses such as accounting, financial advisory services as well as biotechnology companies that require high skilled workers;
  • There are multiple targeted State grants available to new businesses, especially in the fields of employee development and international product promotion;
  • Massachusetts is an excellent jurisdiction for tech start-ups. This is majorly due to the presence of i) an increasingly growing and dynamic tech industry; ii) a competitive and rich start-up culture and iii) an immensely skilled and talented pool of workers in the State. Moreover, Massachusetts has 17 of United States’ fastest growing companies.