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Can a person who is a non-resident of America having a

Can a person who...

Can a person who is a non-resident of America having a visitors visa own shares in a US based business ?

Lawyer's Assistant: What is your official status? Do you have any pending applications or petitions with USCIS?

No Just have a b1/b2 visa. I come here to do business and was offered an opportunity to invest in a start up LLC

Lawyer's Assistant: Has anything been filed or reported?

I do not understand your question?

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

I would like to know any information regarding the requirements for a foreigner non-resident with a visa to invest. I do not intend to reside in the US at this time would just like to invest.

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Answered in 6 minutes by:
3/8/2018
Nisha Jones
Category: Legal
Satisfied Customers: 3,487
Experience: Managing Attorney at Nisha Jones Law, LLC
Verified

Good morning, I am an attorney expert with the JustAnswer website, and former Prosecutor for the State Attorney's Office. I have a near 100% customer satisfaction rate, and I'll be answering your questions today. JustAnswer provides general legal information only and does not constitute legal advice. Please allow me just a few minutes to review your question, thank you!

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I've reviewed your question and I'm happy to help. Give me just a few minutes to finish typing up some information for you, thanks!

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Customer reply replied 4 months ago
Ok I am from Belize and just need info on whether its possible and the process/ requirements to do so. Thanks

Yes, you can buy shares in a US owned business.

The US stock market does not require US citizenship in order to invest.

You will however need to first obtain a brokerage account.

There are multiple brokerage firms in the US, and while they do permit non-citiznes to have brokerage accounts, there are separate requirements for setting up an account.

You'd need to speak with several brokerage firms idependently to learn of their requirements, what forms they need from you, etc.

But again, yes you can set up a brokerage account and buy shares in the US stock market even if you are not a US citizen.

I hope that helps!

Please let me know if you have any other questions. Also, please take a moment to rate me using the stars at the top of the page, as it's the only way experts are compensated for our time on the site. I do not receive a salary here at JustAnswer, and am only compensated for my time after receiving a rating of 3 stars or more (5 stars are always appreciated). The question won't close after rating, so you can still ask follow-up questions after. Thanks, ***** ***** it!

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Customer reply replied 4 months ago
I was not asking about the stock market. I referred to a start up business- an LLC that is about the be created. My question is can I as a Belizean who does not reside in the United States, own shares/purchase shares in a business (LLC) and what are the requirements and whatever info available regarding taxation since I do not have a US social security number?

Yes shares refers to owning equities in one company, while stocks refers to owning equities in multiple companies.

Coloquially the words are often used interchangeably.

Will the company be going public or continue to be privately owned?

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Customer reply replied 4 months ago
It will be privately owned. I would like to know what it would entail to be a shareholder regarding taxes and any other relevant information. Thanks

In that case I'll opt out so that another attorney can assist you with this question. Thanks!

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Customer reply replied 4 months ago
ok thanks
Law Educator, Esq.
Category: Legal
Satisfied Customers: 125,987
Experience: JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
Verified

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

A non-resident alien can own shares in a C-corporation or a LLC, but NOT an S-corporation. If this is an LLC, you would need to have a Tax ID number for Non Resident Alien, as you would need to file a tax return in the US for any income made from the US LLC. As long as you do not work in the US for the LLC, the income is called "passive income" and does not require you to have a work visa.

Because the LLC is a flow through entity for taxes, meaning each owner pays their share for taxes through their personal income tax returns, you would need an ITIN (non-resident alien tax ID) and you would need to file a tax return reflecting the income from the US LLC.

Please do not forget to leave positive feedback by clicking on the 5 stars at the top of your page, as the experts are not employees of the site and get no credit for spending time with customers unless they leave positive feedback. Thank you.

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Customer reply replied 4 months ago
Ok is there someplace online or so that I can read the specific laws relating to this? I currently have a b1/b2 visa and want to be sure this is possible without compromising my visa. Thanks

Thank you for your reply.

Sure: https://www.lawtrades.com/blog/answers/tax-duties-non-resident-llc-owner/

Please do not forget to leave positive feedback by clicking on the 5 stars at the top of your page, as the experts are not employees of the site and get no credit for spending time with customers unless they leave positive feedback. Thank you.

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Customer reply replied 4 months ago
Thanks this is what I was looking for. how do I give the five star rating?

Thank you for your reply.

Look at the top of your page and you should see the 5 stars to click on.

Law Educator, Esq.
Category: Legal
Satisfied Customers: 125,987
Experience: JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
Verified
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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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