Legal Question in Business Law in New York

Can I open an LLC in the US, if my other partners are living abroad and have foreign citizenship? Are there any limitations ? Hope you can help, Granit.

Asked on 3/04/13, 1:43 pm

2 Answers from Attorneys

Paul Vaygen Law Offices of Paul A. Vaygen
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The answer is yes. Foreign nationals and even entities are permitted to be equity holders in US business entities, provided they are not on any foreign asset control black list (such as terrorist organizations, for example) and provided they are not investing in certain industries that by law must be exclusively or largely owned by US citizens. You may have to provide your Social Security number, however, to obtain an Employer Identification Number from the IRS. In addition, foreign entities or individuals may be subject to higher taxation than US nationals.

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3/04/13, 3:58 pm
Roman Fichman Esq. Law Practice of Roman Fichman Esq.
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My colleague is correct. Please also keep in mind that it is vital to have an operating agreement between the members not withstanding the fact that some of the members are foreign. An operating agreement is mandatory under New York law and it protects the rights of all members and ensures that all members familiar with their responsibilities as well.

Another important consideration to a foreign national would be potential visa considerations. If a future visa (visitor or work) is contemplated then there are certain factors that need to be addressed when forming the company.

My practice is focused on startups and I would be happy to answer any additional questions you may have. Feel free to contact my office at your earliest convenience.


Roman R. Fichman, Esq.

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Disclaimer: This post has been written for educational purposes only and was not meant to be legal advice and should not be construed as legal advice or be relied upon. No intention exists to create an attorney-client relationship or any other special relationship or privilege through this post. The post may contain errors, inaccuracies and/or omissions. You should always consult an attorney admitted to practice in your jurisdiction for specific advice. This post may be deemed as Attorney Advertising.

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3/04/13, 5:19 pm

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