New Federal Requirement: Starting January 1, 2024, most business entities in the US will need to report Beneficial Ownership Information.
I am Indian citizen and visiting USA on B1/B2 visa, wish to form a Trading and Services Co. (LLC). Trading involves USA / European manufactured parts and units for Industrial and marine applications. These parts may be sold in any part of the USA or even other parts of world like India, UAE, OMAN etc. The Services will be for providing Engineering Drawings to American companies from Indian counterparts located in India.
I live in California with my Son’s family who is Green Crad holder and works in American company. My question: is LLC company okay for this business, where my 4 family members will be directors, and if California is okay to register company? Do I need to have Sellers permit as well as Import / export license?
Ismail,
An LLC would work just fine for this business, and if your business will be operating from California then you should register it in that state. Alternatively, if the business will be managed from outside of the U.S. you can register it in any state, in which case we recommend going for more convenient state such as Delaware or Wyoming.
The LLC can be owned by any number of persons or legal entities, and the owners are called “members” (not directors). You can list your family members as members of the LLC, and you will need to specify in the Operating Agreement what percentage of membership interest each member has in the company.
Finally, reseller permit in needed if you sell tangible goods to end users, so if your product does not fall under such description you don’t need to obtain reseller permit. For import license your product must be in one of the categories requiring such licensing (you should check with U.S. customs if you need any license for what you intend to import into the U.S.).
(a) You made a typo in the card number, CCV code, expiration date, name or address;
(b) Your card balance is too low;
(c) Issuing bank has declined this transaction for some other reason related to your account.
