Non-American Wanting to Start Business

[Ash1402]

Hi,
I live in Texas under an L2 visa. That means that I can't work and can't obtain an SSN#. I want to start a company though. I would not need to take a wage from this company in the foreseeable future so personal taxation would not be a problem.

My questions are... Can I form a company in the US on an L2 visa? If so would it be better for that company to be a sole proprietorship or an LLC?

I read that LLC's can have non-resident members but can it be formed by a non-American living in America?

Thanks,
Ash

[riddings]

Yes, I believe you can start a business...

The term, "non-resident" often applies to people NOT living in the state they are incorporating (LLC is part of that)... Because LLC's and Corporations are individual entities in themselves, state Corporation Commissions must recognize their existence... To incorporate (or LLC) no social security number is required, an SSN or Taxpayer ID is for TAX PURPOSES ONLY... That being said, you will be required to pay taxes, the IRS doesn't discriminate, so you'll need to file for a Federal Taxpayer ID Number which is available for FREE through the IRS...

Also, if you decide to go sole proprietor you can get a Social Security Number for tax paying purposes, however, on the card it will read, "NOT FOR EMPLOYMENT PURPOSES"

Now, because you're NOT a permanent resident and you're future visa could be denied, you'll want to put a continuation plan in place should that happen... The good news, this plan can change overtime, but you'll want to address it early so you have plenty of time to carefully consider a plan just in case that happens...