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Hello: Are you still looking to discuss the issue?
Is he looking to be active in the business; or a passive investor?
My apologies on the delay. I was offline due to a trip. Do you still require assistance at this time?
What type of a franchise is he seeking to invest into, or purchase? The cost of franchises is set by each specific company. Setting up a corporation in Texas, specifically incorporating a 'for-profit' entity, is $300. As far as what businesses he can start, the US really does not limit foreigners too much unless the business is somehow sensitive to the private interest, but if someone overseas wants to purchase a food franchise, unless the franchise itself has conditions on local ownership, the person can do so.
Then he has to reach out to those specific companies and find their rules on ownership. If he wants to purchase a Subway franchise for example, he has to contact Subway and find out if he can own it as an outsider, or he would need to bring in others who are local US citizens as part owners with him.
He can negotiate with the franchise on his own. But if he becomes close to signing, he should consider retaining a business attorney to review the franchise agreement and point out potential areas of concern.
As far as obtaining a Tax ID, he can do that on his own, but the process can be complicated. However, the IRS does explain it fairly well, and if you go to this link, you can follow the steps on how to apply for an SSN, or an ITIN depending on necessity.
I do apologize but I do not communicate off-site. I can, however, give you an estimate here. A cheap business attorney would likely review the documentation from $1,500 and up. A more experienced attorney would likely charge $4,000 to $6,000, but that would also include business filings and business formation.
Hope that helps!
PS. Kindly do not forget to positively rate so that I can obtain credit for my work. Thank you!
My pleasure, and I can understand that also. Since projects and time may differ it is not always easy to give a valid estimate. But I tried to limit my answer to the specifics.
Please take care and good luck. Should you need me again, please do not hesitate to request me again, and I promise to respond faster--you caught me when I was on vacation. Otherwise, kindly do not forget to positively rate. Please take care.