New Federal Requirement: Starting January 1, 2024, most business entities in the US will need to report Beneficial Ownership Information.


Non-US partner

Asked by: Ramish  — 1 February, 2012

Hi! I have a green card and wanted to start a business in USA. One of my friends who lives aborad wanted to be my partner/investor. My question is what will be his status?

Answered by: admin  — 1 February, 2012

Dear Ramish,

If you form an LLC your friend will become a member of that LLC just as you would, and if its corporation then he will be listed as a shareholder of this corporation. Foreigners are only restricted from being shareholders of S-Corporations, other than that there should be no problem.

From immigration point of view (if that is your question) your friend would have little if no advantage being either member or shareholder of this company. You might want to consult an immigration attorney to see if there is a way for your friend to benefit from ownership of shares or member interest in a US company.

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