Hello,
I am on a H4 visa and am interested in forming an LLC in partnership with an American citizen. It will be a real estate development firm, we are both going to invest 50% each and expect to split the profits/losses 50/50 too. Her role is going to be managerial and my role is going to be investor. The LLC will elect to be taxed as a corporation, therefore will retain any and all profits and will pay its own taxes.
I will not be involved in any running of the business and wont be withdrawing any salary. My name will be on the bank papers (I have a social security no# from my student days) and we will require signatures from both partners for any checks that need to be made.
Will I have any problems in doing this? Any insight will be appreciated.
Thanks
I am on a H4 visa and am interested in forming an LLC in partnership with an American citizen. It will be a real estate development firm, we are both going to invest 50% each and expect to split the profits/losses 50/50 too. Her role is going to be managerial and my role is going to be investor. The LLC will elect to be taxed as a corporation, therefore will retain any and all profits and will pay its own taxes.
I will not be involved in any running of the business and wont be withdrawing any salary. My name will be on the bank papers (I have a social security no# from my student days) and we will require signatures from both partners for any checks that need to be made.
Will I have any problems in doing this? Any insight will be appreciated.
Thanks