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Canadian citizen owning US corporation

Asked by: Karen - 8 July, 2011
Can a Canadian citizen own a US corporation ? And also be a single member as well with no partners ?
Answered by: Lloyd Johnson - 14 July, 2011
Karen,

The answer to both questions in yes, a Canadian citizen (or any citizen for that matter) can own a US corporation, and this corporation or otherwise and LLC can be owned solely by that person.

Keep in mind that owning a US entity might require such person to obtain what is called an ITIN and file personal tax return with the IRS (even if there was no profit in the US).

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