How to open business for non-US residents?

My brother and I are non-US residents and non-US citizens. We would like to invest in the US where we have relatives living and who are asking us to invest (gas station and small grocery outlets). We’d have to create a company, transfer funds from Europe, buy real estate, and start the business. We’ll not directly manage the outlets, our relatives – US legal residents – would be in charge of the day-to-day business. We would have to give them a participation in the capital that they’d pay back on their part of benefits. How is all this to be done?

Asked on October 19, 2011 under Business Law, Indiana

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Your plans are quite ambitious. You must first set forth a coherent business plan for your venture setting forth estimated costs and revenue as well as the location for the business.

You also will need to have a written agreement between you and all venturers in the project created by an experienced business attorney dated and signed by all. Likewise, the creation of a corporation or a limited liability company would be the most common form to operate a business under.

You will also need an insurance person, real estate agent and a business adviser for your plans. I recommend consulting with a business attorney first.

Good luck.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.