How to open business for non-US residents?
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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 12 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.
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