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A German Sole Proprietorship is essentially a form of personal ownership of assets. It is not a separate entity. Therefore, 'it' cannot own a US LLC because there is no 'it' to speak of.
Since the ownership is vested in the person, obviously the German person can own the US LLC.
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Thanks for your answer. I think my question might not have been clear. I am the owner of the agency in germany ( personal ownership) and would like to put this business in an LLC or C-corp. I am a German permanent resident here in the US. SO the LLC should own the business. Would your answer still l be the same? Thanks.
If your question is about the the US LLC owning the German business then that's permissible but you would need to effectuate the transfer of owner from you to the LLC and most likely register in Germany some sort of a foreign entity. In addition, you would like have a tax impact in that you will have to pay taxes on the German earnings since they will be flowing to the US. I believe there is a tax treaty between the US and Germany, so you will likely avoid double taxation but this just is fairly complex and costly and at the end of the day, I'm not sure what would be the advantage for the US LLC to own the German business?
In conclusion, the LLC can own the German business.
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