What Are Your Questions About Business Formation?
At Kurzban Kurzban Tetzeli & Pratt, P.A., our lawyers handle numerous intersecting issues regarding business law and immigration. We have a thorough understanding of the ways in which immigration status can affect your business. If you are a foreign national who is also an entrepreneur, you may have many questions about running a successful company in the U.S. We would like to take the time to address some of these important questions here.
Can Foreign Nationals Own A Corporation?
Yes — foreign nationals can absolutely start a business and incorporate in the United States. In fact, the process is often very similar to the process for American entrepreneurs.
As A Foreign National, Should I Start A C-Corp Or An LLC?
It is crucial to choose the correct business structure from the beginning to ensure success. An LLC could have tax consequences: For example, LLCs that have foreign partners must withhold U.S. taxes on their share of partnership income. In addition, you will have to file a personal U.S. tax return — an extra step that some people prefer not to take.
Many foreign nationals choose C-corporations. You will not have to file a personal U.S. tax return, as a C-corporation’s profits and losses do not flow through its owners. Depending on how your country of origin handles U.S. dividends, the C-corp’s double tax consequence may not apply.
How Can An LLC Or Corporation Protect Me In Torts Cases?
As an entrepreneur who owns an LLC, C-corp or S-corp, your personal finances are at less risk in a lawsuit. You would be held liable for only the assets that you have invested in your company. This is how limited liability business entities can protect you from personal liability in lawsuits.
Does An LLC Make Sense For Investments In Today’s World?
Many investors are turning to LLCs as investments for their assets. In the U.S. and in many other countries, many entrepreneurs begin their startups in hopes of starting a successful global brand. As an entrepreneur, you may wish to invest in an LLC and found your own business.
Talk To Our Business Attorneys Today
If you wish to start a successful company, Kurzban Kurzban Tetzeli & Pratt, P.A., can assist you whether you are in Miami/South Florida or across the globe. With our extensive experience helping numerous successful entrepreneurs, our legal counsel can provide much-needed guidance. Schedule your initial consultation at our Coral Gables office today. We also represent clients throughout Florida and across the country. Call 305-744-5888 or contact us online.