Canadian on TN Visa, can I open a business?

[Daverdvm]

As stated, I am a Canadian on a TN Visa in California. Can I open a business with a bank loan in California?

 

[TheRealCanadian]

Unless you are just being a passive investor, no.

 

[Daverdvm]

Unless you are just being a passive investor, no.

A passive investor meaning?

I want to buy into a medical practice where I work.

Can I do so with a green card?

 

[nelsona]

Passive means you own shares, you make no day-to-day decisions. The other problem you would face is that you would be an owner of your immigration sponsor, which is a non-no.

Your first post said you wanted to open a business. You did not say you wanted to buy in to your employers buisness.
That is a no go at this point. Get GC first.

 

[Daverdvm]

Passive means you own shares, you make no day-to-day decisions. The other problem you would face is that you would be an owner of your immigration sponsor, which is a non-no.

Your first post said you wanted to open a business. You did not say you wanted to buy in to your employers buisness.
That is a no go at this point. Get GC first.

So, once I have a GC I can buy-in or own a business where I work?

 

[nelsona]

Yes, depending on its structure. I beleive some corp structures are only available to citizens. But that is a question for a corp tax atty.