Here's my situation. I am an F1 student and a friend of mine is a citizen. We are both administrators on a local car club message board. Due to the growth of the board, we have decided to form an LLP in order to accomodate vendors and advertisers on the site.
I have done some reading on this site. The following is what I understand. Please correct / advise me if I am wrong:
I can not become a limited liability partner but i can become a passive investor. Which means I can not be involved in any decision making process but I am entitled to dividends. Also, I am not allowed to work for the company due to my current F1 status. Does being a forum administrator count as working for the company and would it be legal for me to continue as one of the admins? To me it is no different from being the captain of a local soccer team and it involves no pay.
Also, my father is in India and has travelled to America on a business visa. I dont know if he files taxes in America. Can he become a limited liability partner?
Thank you for all your help.
I have done some reading on this site. The following is what I understand. Please correct / advise me if I am wrong:
I can not become a limited liability partner but i can become a passive investor. Which means I can not be involved in any decision making process but I am entitled to dividends. Also, I am not allowed to work for the company due to my current F1 status. Does being a forum administrator count as working for the company and would it be legal for me to continue as one of the admins? To me it is no different from being the captain of a local soccer team and it involves no pay.
Also, my father is in India and has travelled to America on a business visa. I dont know if he files taxes in America. Can he become a limited liability partner?
Thank you for all your help.